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Financial Statements
Do financial statements for your small business leave your head spinning and your eyes blurry? Financial statements, including the balance sheet, the profit and loss (income) statement, and the cash-flow statement, can help you identify problems and corrective action. A balance sheet is a list of the accumulated assets and liabilities incurred by your business. The difference between the assets and liabilities represents the net worth of the business. The profit and loss statement lets you know how the business did. And the cash-flow statement tells you where the cash was used. These statements show you what happened in the past, and they can help you make realistic assumptions for the future.
Featured Article
Do the Five-Minute Review of Your Financial Statements
A few simple strategies can help even the most intimidated understand these reports and make meaningful decisions about company operations.
Video + Podcast Library
Business Operations: The Importance of Financial Reports
Jerry Goldman, a senior tax partner at Ernst & Young, talks about the importance of accounting.
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Your Financial Information Is Your Business's Lifeblood
Accurate and timely bookkeeping is critical to your success. And, if you're the business owner, it's also a complete waste of your time.
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Tips for Easy Expense Reporting
It can be tough to manage expense reports. Here's how to make it easy.
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Do the Five-Minute Review of Your Financial Statements
A few simple strategies can help even the most intimidated understand them and make meaningful decisions about company...
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Your Financial Information Is Your Business's Lifeblood
Accurate and timely bookkeeping is critical to your success. And, if you're the business owner, it's a complete...
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Financial Statements for Corporations
Learn about the three principal types of financial statements: the income statement, balance sheet, and cash flow statement.
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Properly Reflecting Business Loans on Your Company’s Financial Statements
When you receive a loan, you must properly reflect it on your company's financial statements. Doing this the...
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What Are Assets, Liabilities, and Owners' Equity?
Keep your company healthy by understanding its financial foundation.
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Business Operations: The Importance of Accounting
Jerry Goldman, a senior tax partner at Ernst & Young, talks about the importance of accounting.
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Financial Statement Fraud: Overstating Revenue
Probably the most common financial statement fraud is the manipulation of sales (revenue) figures. Learn how it works...
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Tips for Easy Expense Reporting
It can be tough to manage expense reports. Here's how to make it easy.
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Financial Statement Manipulation: The Schemes
Financial statement fraud is the most expensive type of fraud perpetrated by an employee, with a median cost...
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