Knowing how your business’s finances are going is one part of owning a small business. You should have the three main financial statements at your business: balance sheet, income statement, and cash flow statement. What is a cash flow statement?
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P&L Management for Small Businesses
Being able to effectively manage your incoming and outgoing money ensures you have a healthy business. To do so, you need accurate financial records. Make necessary changes to your business through P&L management.
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To Keep or Not to Keep? That Is the Accounting Records Question
As a business owner, accounting records must be at the top of your to-do list. Accounting records track transactions and help you understand the health of your business. What accounting records should you know about, and how long should you keep them? Read on for the scoop.
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Basic Accounting Forms for Small Business That You Should Know
As a small business owner, you have many accounting responsibilities, like tracking your business transactions, income, and expenses. And on top of juggling these tasks, you must also understand which basic accounting forms are relevant to your small business.
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What is a retained earnings statement?
When it comes to managing your business’s finances, you can never be too organized. Creating financial statements paints a picture of your company’s financial health. Financial statements help with decision making and your ability to get outside financing. One statement you could create is the retained earnings statement.
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E-File vs. Paper File: The Advantages and Disadvantages You Must Consider
In this digital era, it may seem surprising that there is an option to file a paper tax return. But before you kick the idea of paper filing to the curb, consider the advantages and disadvantages of e-File vs. paper file below.
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What Is Return on Assets?
Over time, your small business acquires items of value. These things that bring value to your business are assets. To see how profitable your assets are, learn how to find return on assets and its impact on your business. So, what is return on assets?
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What Is a Schedule C?
As a small business owner, you must know which forms to file. And if you’re a sole proprietor or sole owner, you need to understand the ins and outs of Schedule C. So, what is a Schedule C?
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9 Business Formulas Math Haters Can’t Ignore
To keep your business in tip-top shape, you may need to do some things you dislike, including math. No, you don’t need to memorize a billion formulas or take a calculus class. But, you do need to familiarize yourself with essential business formulas.
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Breaking Down the Basics of a Financial Analysis Report
If you want someone to invest in your company, you need to be able to tell them why it’s worth the investment. And, you must be able to back up your claims with strong financial data. To show investors why your business is a good investment, develop a financial analysis report.
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