Managing finances for your Early Learning and Child Care business can be challenging and at times overwhelming. When you have a clearer understanding of your income and expenses you can make informed decisions to maximize your financial well-being and plan for the future.

By the end of this Study Guide, you should be able to:

• Understand why you must engage in the financial end of your business
• Understand basic accounting terms
• Understand a cash flow statement and a profit and loss statement
• Develop a budget
• Learn how to balance a budget and why you should do it
• Learn how to do a monthly reconciliation of the budget
• Determine what your break-even point is
• Create a salary schedule for your staff