A Bookkeeper is someone who has the knowledge and understanding of how to record the daily financial transactions of a business. In many cases, a Bookkeeper can prepare Financial Statements for a bank or tax preparer. As a business owner, Read more
The Three Main Financial Statements Are: Balance Sheet (other names include Statement of Financial Position and Net Worth Statement) Income Statement (other names include Profit & Loss Statement, Statement of Operations) Cash Flow Statement (other names include Statement of Changes Read more
The Balance Sheet, in my opinion, is one of the most underestimated or ignored of all the financial statements. Most business owners focus on the Income Statement and ignore the Balance Sheet. This is a mistake. Sure it is important Read more
What is an Income Statement? Most business owners have at least heard of an Income Statement or a Profit & Loss Statement. Basically they understand and want to know if they are profitable. If by chance you have not heard Read more
The Cash Flow Statement is great tool to help a business owner understand where their cash went for a period of time. Understanding your cash position and where your cash is going is essential for ongoing operations. Cash is the Read more