WEBINAR Accounting Basics for Small Business Owners

Accounting Basicsis a practical, business-focused presentation designed to help small business owners understand how accounting systems support daily operations, cash flow, and long-term decision-making. Led by Michael DeDonato, J.D., M.B.A.—a seasoned corporate finance executive and business advisor—this session demystifies core accounting concepts and connects them directly to real-world business processes.
Participants will explore how products and services are structured, how money moves through the business (from sales to cash and from procurement to payment), and how accounting systems are properly set up to support growth, compliance, and financial clarity. The presentation bridges operational workflows—such as payroll, inventory, and customer/vendor management—with the underlying accounting framework that drives accurate financial reporting.
This session is ideal for business owners who want to move beyond “bookkeeping” and gain a working understanding of how accounting informs profitability, pricing, cash management, and strategic planning.
Learning Outcomes
By the end of this presentation, participants will be able to:
Understand the role of accounting as a management tool, not just a compliance requirement Identify and structure products and services using SKUs, service lines, and product families Explain key business cycles, including: Sales–Order–Cash Cycle Procurement–to–Payment Cycle Payroll and employee engagement processes Understand the accounting cycle and how transactions flow into financial statements Distinguish between calendar years, fiscal years, and alternative fiscal month structures Set up a basic accounting system, including: Chart of Accounts Fiscal periods Customers, vendors, employees, and inventory Understand inventory costing and pricing fundamentals Interpret the Balance Sheet and understand how assets, liabilities, and equity relate Make more informed operational and financial decisions using accounting data
Instructor: Michael DeDonato (SBDC Advisor) andseasoned corporate finance executive and business advisor, with a demonstrated history of working in the manufacturing, healthcare, consumer goods, construction and aerospace/defense industries. Mike’s functional expertise is in accounting and financial management.