Do you know a balance sheet is? How about the definition of cash flow? Do you know when you’d use a gain and loss sheet as opposed to a profit and loss statement?
There are certain accounting terms every business owner needs to know. Read this article and learn 12 accounting document terminologies you need to succeed.
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In operating a small business you are continually required to evaluate your financial status to gauge your performance against plan and plan for future operations. Most business owners realize the need for accurate financial statements and have bookkeeping staff or controllers/CPAs. But these roles are backward-looking positions that record data and produced financial statements for your purposes. A Chief... Read More