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Understanding Your Financial Statements Part 8 (final) – Limitations of Financial Statements

Understanding Your Financial Statements Part 8 (final) – Limitations of Financial Statements

This series of articles has been an introduction to how to read your financial statements and how to use the information to improve your business.  Financial statements provide very valuable insights, but they are not perfect and do not tell you everything.  In this final article, we look at 8 limitations of financial statements, and where to go from here to dig deeper for business improving information.  Read More…

Understanding Your Financial Statement Part 7 – Comparing Your Results

Understanding financial statements - business comparison

Understanding Your Financial Statements Part 7 – Comparing Your Results

So far in these articles you have looked at how to read your financial statements and how to calculate meaningful measures to gauge your profitability, cash flow management and financial structure.  But the numbers on their own do not mean much until you compare them to something. Read More…

Understanding Your Financial Statement Part 6 – Business Finance

Small business finance

Understanding Your Financial Statement Part 6 – Business Finance

In this article, we step back and look at your business as an investment.

Being a business owner goes beyond being self-employed – i.e. being your own boss – to having an asset that you can grow into a valuable investment.  You are investing, by injecting money and/or your personal effort, or “sweat equity”, into your business.  To grow your investment, you have think like an investor, and not just a business manager. Read More…