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…
Tag: Cash Flow
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…