photo of how financial statements work
Often, I meet with business owners that are embarrassed that they don’t understand the basics of Finance. If you don’t understand the differences between the financial statements you’re given, how can you use that information to help grow your business? So, here’s a little refresher course on the three Financial Statements, Balance Sheet, Income Statement and Statement of Cash Flows. They each tell you different things about your business. The Balance Sheet tells you the status of your business at a point in time. The Income Statement tells you how your business did over a period of time. The Statement
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