2200012 - Equine Business Finance & Risk Management

Course Description

Examine the basic principles of financial management of a small equine business. Preparing balance sheets, analyzing income statements and understanding cash flow are key tools in effectively managing a successful business. You will study common risk and liability issues for business owners as well as explore unique issues to running your equine enterprise.

This course will provide you with the skills to manage your own business or work as an employee of an equine business—including tack and feed stores, rescue facilities, boarding schools and non-profit organizations. Event and show coordinators, freelancers, and all other small business owners are well-suited participants for this course.

Learning Outcomes

Upon successful completion of this course, you should be able to:

• Recognize the finance management role and responsibilities of an entrepreneur;
• Identify the financial skills required to manage an ethical and sustainable equine business;
• Develop a budget using a chart of accounts to project the profitability of a business and establish financial controls; 
• Set up a basic bookkeeping system to record income and expenses for your equine business;
• Interpret and analyze financial statements and assessment tools to understand the financial health of your business;
• Identify, assess and select appropriate financial planning and management tools to support operational decisions regarding the sustainability and growth of your business;
• Describe potential risks that can affect an equine business and establish guidelines and develop tools to use in your business to reduce the identified risks;
• Effectively communicate with financial professionals using proper accounting and business terminology; and
• Demonstrate professional behaviour that leads to ethical decision-making and its impact on business performance and local communities.

Course Topics

• You as an entrepreneur and the business skills required for an ethical and sustainable equine business
• Financial accounting principles
• Standard Accounting and the Chart of Accounts
• Financial budget fundamentals
• Financial business operations
• Transaction management - managing your money
• Financial statements and reports
• Financial forecasting and fundraising
• Financial record-keeping systems
• Protecting your assets and mitigating your risk
• Managing the financial health of your equine business

Assessment

Please note that the course assessment is subject to change. Assessments are focused on the development of financial tools you can apply to any equine business.

Sponsoring Partner

• Equine Guelph

Applies Towards the Following Certificates

• Diploma in Equine Studies : Electives
• Certificate in Equine Business Management : Required Courses