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Understanding Your Financial Statements
 
May 13, 2025 | 1:00 pm - 4:00 pm
Ozarks Small Business Incubator (OzSBI)
408 Washington Ave
West Plains, MO
65775

Business owners, managers, accountants, bankers, and consultants need to know how to turn financial statements into useful management tools. After attending this financial management class, you will be able to make better business decisions based on good financial information.  This class is part of a three-part financial series.

In this first class, participants will identify key financial information on a Profit and Loss Statement and on the Balance Sheet. Participants will also learn how to calculate several financial ratios and understand what those ratios indicate in terms of business productivity and success. Overall, participants will gain a greater understanding of how to read and interpret financial documents, and use that information to drive business decisions.

Cost: $95 for OzSBI Members / $75 for non-members

Topics include:

  • Financial Management
  • Cycle Accrual vs. cash accounting
  • How to document past performance
  • Case study introduction
  • Income statements
  • Net income formula
  • Percentage size statements
  • Balance sheets
  • Ratio analysis

Facilitated by: Melvin Steele

Melvin L. Steele, Jr., E.D., is the regional business consultant for the Missouri Small Business Development Center (SBDC) at Missouri State University-West Plains (MSU-WP).

Steele is responsible for providing consultation services to small businesses on a wide range of topics including marketing, finance (including loan proposals and accounting), management, personnel and business, and strategic planning to promote growth, expansion, innovation, increased productivity and management improvement. He also  coordinates training seminars and classes designed to meet the specific needs of small business owners and managers in the region.

Prior to joining the Missouri SBDC at MSU-WP, Steele taught business courses in management, marketing and economics, which are his primary areas of interest. He has taught at the college level and consulted with small business owners for many years before joining the Missouri SBDC. Steele also has been a small business owner and has additional experience in the data analytics field. In his regional consultant role, he helps new businesses start and existing businesses grow in and around the West Plains and surrounding seven-county region.

Steele has a bachelor’s degree in business administration and speech from Southwest Baptist University, an MBA in Marketing from Louisiana Tech University, and an Education Doctorate from Lindenwood University.
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