Financial Fundamentals: What Every Entrepreneur Needs to Know

Kankakee County CEO students learned valuable insights from the first guest speaker of the year, Dr. Jesse Erickson, owner of Pathfinder. He broke down the three essential financial statements every entrepreneur needs: the Profit & Loss Statement (P&L), Cash Flow Statement, and Balance Sheet.

Dr. Erickson also explained key concepts like assets, liabilities, equity, and net profit, and introduced the P&L Projections sheet to track monthly revenue, expenses, and COGS (costs of goods and services).

His insights are helping us build a solid financial foundation for our business ventures! Thank you to Dr. Erickson for taking the time to share such valuable information with the CEO students!

8/28/24

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