Classifying Employees
Taking shortcuts can be costly.Very often I see organization miss-classifying employees out of convenience or ignorance. For example, the office administrator is required to work…
Category: Financial Literacy
Income Statement aka Profit & Loss / P&L
The income statement is an easy-to-read listing of the money we received from all sources, Cost of Goods Sold, and expenses combined into categories such…
Balance Sheet
The balance sheet shows all the things an organization owns (assets) and all the things the organization owes to somebody (liabilities). There is one more…
Statement of Cash Flows
The Statement of Cash Flows is a hybrid of Income Statement and Balance Sheet. People find this document to be the easiest to read. Most…
Financial Literacy – Three documents you should know
Too often, business owner’s eyes glaze over as soon as Financial Statements are presented. Everybody running a business or being on the board of an…
Financial Literacy
It does not matter if you are a multi-billion corporation or a small non-profit. Money is passing through your organization. Without, everything comes to a…