Introduction

Hi! Welcome to the introduction of the financial management module.

Although financial management and -numbers might not be the first love of a social entrepreneur, they are part of the game and can provide the entrepreneur with lots of necessary data to evaluate and navigate the business. We did our best to stick to the essentials and not overload you with details, but give you the structure and knowledge needed to follow up on the financial side of your business.
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Let’s give an overview of how this module is structured. We follow the financial management structure which relies on three basic financial documents:

  • the ‘mother’ document is the balance sheet
  • The profit & Loss statement is derived from the balance sheet
  • The same counts for the Cash flow statement

In this course we will explain which information these documents hold for you, and how you can interpret them.

20 minutes

This introductory lesson will take you approximately 20 minutes to get through, that is, if you just follow the explanations.

70 minutes

With additional reading this lesson should take you in total about 70 minutes to complete.

4 hours

With additional reading and a review of the academic articles, journal articles or advanced concepts should take you, more like, 4 hours to complete.

There is one concept we want to share with you before starting the learning: How financial management is embedded in and relates to all kind of management needed to run a business.

We keep repeating: Enjoy!