Upcoming Events, Courses, and Talks

This four-part workshop series is designed to empower entrepreneurs and small business owners with a foundational understanding of their company's finances. Each session builds logically on the last, taking participants from understanding individual costs to creating a complete Profit & Loss Statement. By the end of this program, attendees will have the knowledge and tools needed to make smarter, data-driven decisions for their business.

Session 2: Inventory & Cost of Goods Sold (COGS)

This session focuses on the direct costs associated with creating or acquiring the products a business sells. For product-based businesses, this is a cornerstone of financial management.

What It Covers:

• The Purpose of Inventory: Understanding how proper inventory management prevents fraud, improves customer service, reduces profit loss, and reveals which products are and aren't selling.
• Calculating Inventory Usage: Learning the formula to determine how much inventory is used over a specific period.
• Valuing Your Inventory: Participants will learn to create a basic inventory system and translate their inventory usage into a dollar value (Cost of Goods Sold).
• Profit Analysis: Using COGS to analyze the profitability of individual menu or product items.
  

How It Builds: This session provides the second major expense category. By understanding COGS, participants can calculate their Gross Profit (Revenue - COGS), a critical step before accounting for other operational expenses.

Progressive Learning Structure: Each session provides essential components for the next, culminating in a comprehensive financial statement that gives business owners a clear and accurate snapshot of their company's financial performance.

Who Should Attend:

• Entrepreneurs and small business owners seeking financial literacy
• Startup founders preparing for investor discussions
• Anyone responsible for business financial decision-making
• Teams developing financial projections and business plans
• Business owners wanting to make data-driven strategic decisions
  
  

About the Organization 

The Greater Englewood Chamber of Commerce promotes the welfare and vitality of the business and civic community through community, connection, education, and advocacy. The organization values collaboration, believing more can be accomplished when individuals and groups combine their strengths. They are committed to building a diverse, inclusive, and equitable community while practicing transparency and generosity in sharing resources and power. The Chamber recognizes their responsibility to respect and protect community interests and resources through effective stewardship.