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Making Sense of Accounting and Bookkeeping

Tue August 20, 2024
10:00 am to
Aug 22, 2024
12:00 pm

You may be able to receive this workshop free of charge. Create an account or login to your dashboard to check your eligibility.

A basic knowledge of accounting can help you manage your business more effectively and feel more confident when dealing with your accountant and banker.  This two part workshop covers accounting definitions and concepts, understanding financial statements, and the steps in the accounting cycle. It is not a bookkeeping course, but provides an introduction to the accounting concepts you need to understand in order to use your financial information for making management decisions.

Many small business owners send their financial information to their bookkeeper or accountant in order to meet income tax requirements, but they don't know how to use the financial information generated for management decisions.  Others do their own bookkeeping without really understanding how the accounting cycle works - they view it as a necessary evil.  Having a basic knowledge of accounting can save time and money whether the business owner does their own bookkeeping or has someone else do it.  


  • Purpose of Financial Statements
  • The Accounting Cycle; Accounting Definitions
  • Accounting Concepts and Principles
  • Cash vs Accrual Accounting
  • The Chart of Accounts
  • The Income Statement
  • The Balance Sheet
  • Double Entry Accounting
  • Changes Caused by Business Transactions

Learning Outcomes:

Participants will gain: 

  • the ability to communicate more effectively with their bankers, bookkeepers or accountants  
  • an understanding of accounting terminology
  • the ability to read and understand financial statements  
  • the ability to analyze the impact that transactions will have on their financial statements   


Wendy Dyson

Bio: Wendy Dyson is a retired CPA-CGA with a Masters in Business Administration. She ran her own successful small business in the tourism industry for more than 30 years, and has also worked as a public accountant and a college instructor. Having experienced the pressures of running a small business, she understands how accounting can take a back seat when you are just trying to make it through the day. She can translate accountant-speak into plain English and makes it all seem less overwhelming.

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Header Photo: Kelowna BC
Community Futures British Columbia
33163 2nd Ave
Mission BC V2V 6T8
Mon to Fri: 8:30am to 4:30pm

CFBC is the provincial association for the Community Futures Development Corporation. Since 1992 we've been fostering entrepreneurship and economic development in rural BC through our 34 member offices. Learn More.

We are grateful to live and work with people from across many traditional and unceded territories, covering all regions of British Columbia. We are honoured to live on this land and are committed to economic development and growing small businesses together.
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