Understanding your profit & loss statement

Understanding your profit & loss statement

You might remember from a previous post, many reports or tools have more than one name. As a reminder, your profit and loss statement is also sometimes referred to as: P&L, Income Statement, IS, Statement of Earnings, or Statement of Financial Performance. For...
Balance Sheet Basics … and Beyond

Balance Sheet Basics … and Beyond

In my previous post (Money Talks. Can You Understand What It’s Saying?) I discussed the importance of becoming familiar with some of the jargon, terms, and acronyms that will help you understand your business. One of those terms was “balance sheet”, which I described...
Are You Using Debt as a Tool or a Crutch?

Are You Using Debt as a Tool or a Crutch?

If you were to ask me what I think about business loans, my first reaction would be: “Avoid them at all costs!” BUT, I would be hard-pressed to find a business that hasn’t used or considered the use of debt at one point or another. I would be doing you a disservice to...

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