Basics of Accounting
Accounting plays a critical role in business growth by providing a clear picture of financial health and enabling informed decision-making. Accurate recordkeeping helps entrepreneurs manage cash flow, track expenses, and prepare for tax obligations. As a business grows, strong accounting practices also build credibility with lenders and investors, opening doors to new funding opportunities.
Navigate this page to access presentations, templates, and resources designed to help entrepreneurs learn the basics of accounting.
Featured Resources
Supporting entrepreneurs at different stages requires different tools and approaches. Review our featured resources below to better support your entrepreneurs.
Basics of Accounting Training Deck
This training deck provides a high-level introduction to the basics of accounting, with consideration for key tax and audit issues as they relate to small businesses. Additionally, the deck introduces key considerations as…
Pre-Audit Review Checklist
The Pre-Audit Review Checklist is a practical resource to help entrepreneurs prepare for financial audits with confidence and clarity. This tool supports you in training clients to organize key documents…
Small Business Financial Policy Handbook Sample
The Small Business Financial Policy Handbook Sample offers a clear example of how to establish strong financial practices within a growing business. This resource helps you guide entrepreneurs in creating…
Basics of Accounting Summary Video
The Basics of Accounting Summary Video introduces entrepreneurs to fundamental accounting concepts essential for understanding their business’s financial health. This video provides a high-level introduction to the basics of accounting…
Basics of Accounting External Resources
Leverage these links to access supplemental trainings, templates & guides from trusted sources.
Summary Video
Special Accounting Considerations for SEDI Businesses
Financial Literacy and Accessibility
Many SEDI entrepreneurs may not have prior experience with formal accounting systems. Advisors should provide simple, jargon-free explanations and introduce user-friendly tools to help clients understand basic bookkeeping and financial reporting.
Cost and Access to Services
Professional accounting and audit services can be expensive. Advisors should connect clients with affordable options, such as community-based accountants, nonprofit support organizations, or software tools with free or low-cost tiers.
Compliance and Audit Readiness
Help clients understand the importance of staying compliant with tax laws, funding requirements, and government regulations. Early education on audit preparation can reduce the risk of financial penalties or disqualification from grant and loan programs.
Building a Financial Foundation for Growth
Strong accounting practices support long-term growth by enabling better budgeting, profitability tracking, and access to capital. Advisors should emphasize how financial transparency can improve business decisions and investor confidence.
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