Know Your Numbers Class

Locations Duration Next Application
Deadline
Online 6 weeks 05/22/2020
Apply Now

Overview

In our Know Your Numbers class, you will learn how to set up and update an accounting system for your business, how to process financial transactions using basic accounting principles, and how to track the financial health of your business by generating meaningful reports. The class is 6-weeks long and is suited for small business owners and startup founders who wish to organize their financial information in a systematic way to make informed business decisions.

What You Will Learn

Unit

Topics Covered
Demystifying Accounting
  • Discuss money mindset and emotional barriers to tracking finances
  • Gain an understanding of the importance of knowing your numbers
  • Learn the basics of accounting for small businesses and startups
Building an Accounting System
  • Learn how a well-designed accounting system can benefit your business
  • Learn how to create a chart of accounts to record and track your financial transactions
  • Design and create your business’ chart of accounts
Recording Your Numbers
  • Learn the difference between cash and accrual accounting
  • Learn how to record financial transactions through journal entries in your accounting system
  • Record at least one month’s of financial transactions using journal entries in your accounting system
Closing Your Books
  • Learn how to reconcile your accounts
  • Gain an understanding of what information needs to be kept for tax purposes and how to create a system for tracking tax information
  • Perform an account reconciliation and close your books for the prior month
Making Sense of the Numbers
  • Gain an understanding of the types of financial statements and how to read them
  • Learn how create financial reports that are relevant to your business and help you make you make decisions specific to your business
  • Use financial data to develop monthly key performance indicators and reports
Looking Ahead as You Scale
  • Learn how to keep your accounting system going
  • Learn how to use your accounting system to measure your financial performance and make informed business decisions
  • Gain an understanding of when to get help with your accounting and how to get the support you need

Prerequisites

Business must be operating with some financial transactions (sales and/or expenses).

Commit to Building Your Business

Average time commitment for our Know Your Numbers class is 8-10 hours / week dedicated to building your accounting system, and includes the following weekly activities:

Title

Weekly 
Activity Weekly Commitment
Background Materials
  • Series of required background readings and videos on each unit to be completed online prior to the weekly in-person workshop
  • Describes concepts and their applications in building your accounting system

1-2 hours / week

Workshops
  • Weekly online workshops led by an expert instructor
  • Lecture and discussion on background materials, group activities, and reflection

2 hours / week

Business Development Activities
  • Weekly activities focused on preparing yourself for business ownership
  • Apply concepts learned in background materials and workshops

4-5 hours / week

Peer Mentoring
  • Weekly phone meetings with small peer group of other business owners in your class
  • Present weekly business development activities and receive constructive feedback from peers

1 hour / week

Meet Your Mentors

Mike Gabriel

Mike Gabriel

Lead Instructor & Mentor

Online

Join an Upcoming Class

Our Know Your Numbers class is offered at the following locations.

 

Online

Enrollment Period Program Dates Application Deadline
Spring / Summer, 2020 June 4 - July 9 May 22
Fall, 2020 September 24 - October 29 September 4

How Much It Costs

The cost of our Know Your Numbers Class consists of a course fee of $600.

We charge a $25 deposit to reserve your space in the class. This deposit is credited against the payment of your course fee, where applicable.

Financial Assistance

Because we believe in entrepreneurship as a means to close the racial wealth gap, we offer financial assistance programs for entrepreneurs of color.

For entrepreneurs of color, we offer financial assistance covering up to 100% of your course fee and payment plans, based on your household income and the number of people in your household.

Accelerate your business.