This fall at the Mountains & Plains and Heartland regional trade shows, the American Booksellers Association presented the “Principles of Bookstore Finance” seminar, which focused on the fundamentals of budgeting, bookkeeping, and more.
The presentation and related educational materials are available now in ABA’s Education Resources on BookWeb. Booksellers will need a BookWeb login to access the files; e-mail firstname.lastname@example.org for login details.
The 101-level seminar, led by ABA Chief Financial Officer Robyn DesHotel and a local independent bookseller (Cynthia Compton at the Heartland show and Len Vlahos at the Mountains & Plains show), covered the fundamentals of budgeting, understanding cash flow, business financing, bookkeeping, and financial statements as well as strategies for achieving higher profits and improving cash flow. The seminar also included an interactive group discussion, in which attendees worked through an example of how to use their store’s financial information to make sound business decisions.
The Principles of Bookstore Finance seminar concentrated on bookstore finances as opposed to bookstore accounting, so while it is helpful to be familiar with basic bookstore finances, deep financial experience is not required to understand the information provided.
Visit BookWeb now to review the “Principles of Bookstore Finance” presentation and materials.