How to Read Financial Statements – Painless, Light, Quick and Simple

How to Read Financial Statements – Painless, Light, Quick and Simple



welcome to business buffet the help yourself video series bringing you fast food for thought info you can really sink your teeth into for best results first review the program without doing the exercises and ask yourself the questions in the notebook introduction then the zero in on each section doing the exercises as you go here are some of the characters you'll be needing you with a business idea your competitor with a different idea your product or service your supplier your prospect and your customer when you hear this and see this it's your signal that there's something to do have the notebook handy and jot down the ideas you get after reviewing the whole series your notes will be a valuable resource as you plan and grow your business watching again and again will stimulate fresh insights and creative solutions and by inviting others to watch with you as a basis for discussion and brainstorming you can benefit from their ideas too now let's take the fear out of Finance welcome to how to read financial statements by the end of this program you will be able to define the two key financial statements describe their major components and identify the relationship between them regardless of why you decided to go out on your own to a great extent building a successful business is about managing money as an owner you have to manage the financial aspects of your business balancing costs with potential returns financial reports provide information not always visible on the surface much like x-rays reveal indications about physical health financial statements tell you about your fiscal health and just as a doctor learns to interpret x-rays you can learn to read and interpret financial statements the business game is a repeating cycle of selling goods and services making money and reinvesting to grow the business to win you must have profits at the end of the cycle to win long term you must apply your profits to further your business interests so your understanding of financial tools and your ability to use them can make the difference between creating a strategic game plan and playing a game of chance your business involves thousands of financial transactions every year without the structure of financial statements how could you possibly manage them one key financial statement presents a snapshot of your business at a given point in time balancing what you own and what you owe this is the balance sheet and the difference between what you own and what you owe represents your ownership your equity in the business the operating statement the other key report helps you monitor your performance by tracking revenues and expenses and determining a profit or loss for the period as the owner you provide the judgment and vision to maneuver within this structure if everything you have is financed to the hilt you have no flexibility on the other hand if you have lots of cash you could put it to work for you and increase your earn this has been part of the business buffet help yourself video series business buffet helping small business help itself to profit by making business learning fun if you enjoyed this overview you'll want to know about the other exciting products and services specially created to help small business help itself to profit for information on the growing list of business buffet products and services and to be placed on our mailing list contact business buffet and help yourself to profit thank you you

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