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Tag Archives: Financial Statements

Have Your Layer Cake and Eat It Too

Accounting, Financial Statements & Reports, UncategorizedBy Becky EzzellJune 23, 2016

The best cakes have layers and layers of different delicious flavors to enjoy. Stacked on top of one another, each layer is baked separately and becomes part of the whole. Like a layer cake, your business expenses have layers of meaning to them. When you can understand how expenses play a part in profit, you…

Five Steps to Getting a Loan

Accounting, Financial Statements & Reports, UncategorizedBy Becky EzzellMay 12, 2016

Most small businesses need help with cash during certain stages of their growth. If you find that you have more plans than cash to do them with, then it might be time for a loan. Here are five steps you can take to make the loan process go smoother. 1. Make a plan. Questions like…

Marketing by the Numbers

Accounting, Financial Statements & Reports, Marketing & Advertising, UncategorizedBy Becky EzzellApril 28, 2016

Two very important skills for entrepreneurs to master are marketing and finances. Combine them by understanding the numbers behind marketing, and you have an even more powerful understanding of exactly what makes your business tick. Key Numbers – Cost Per Client Acquisition Do you know how much it costs your business to bring in one…

Boost Your Accounting Know-How with These Terms

Accounting, Financial Statements & Reports, UncategorizedBy Becky EzzellMarch 31, 2016

Outsmart your accountant and other financial friends with these accounting-related definitions: Fiscal Year Most companies report their results on a calendar year, from January 1 through December 31.  Some companies use a different year for reporting, and that’s called a fiscal year.  For example, Intuit’s fiscal year runs from August 1 to July 31.  A…

Get Finance-Savvy with 10 Accounting Terms

Accounting, Financial Statements & Reports, UncategorizedBy Becky EzzellDecember 10, 2015

It’s good to know some basic accounting terms, and here are ten terms with friendly definitions for your review. Asset:  Essentially, assets are what you own.   These include your bank accounts, business equipment, and even the amounts that customers owe you. Revenue:  Revenue is what you make.  Another word for it is Sales.  You generate…

Three Costly Accounting Mistakes to Avoid

Accounting, Financial Statements & Reports, UncategorizedBy Becky EzzellOctober 15, 2015

Small business owners have a lot on their plates, and time simply does not allow you to become an expert in all the areas required for running a business.  Here are a couple of common mistakes that we see all the time.  Correcting them will help you be more productive and profitable in your business.…

Does Your Accounting Department Have Holes in It?

Accounting, UncategorizedBy Becky EzzellApril 2, 2015

You’ve got someone to do your federal and state income tax returns, and you have a bookkeeper.  So that’s all that a small business needs when it comes to having an accounting department, right? Wrong. Large companies have many functions in their accounting departments, and small and mid-sized businesses need many of the same functions…

The Short and the Long of It

Financial Statements & Reports, UncategorizedBy Becky EzzellMarch 19, 2015

The balance sheet is one of the main financial reports for any business.  Among other things, it shows what a company owns, what they owe, and how much they and others have invested in the business.  One of the characteristics of a balance sheet is how it separates what you own and what you owe…

How Understanding Assets vs. Expenses Can Make You Rich

Financial Statements & Reports, UncategorizedBy Becky EzzellOctober 30, 2014

Assets and expenses both have a “debit” balance on the financial statements, but that’s where their similarities end.  Spending on one can make you rich and spending too much on the other can leave you broke. An expense is money you may need to spend, but after a year, there is nothing lasting to show…

How to Read Your Balance Sheet

Financial Statements & Reports, UncategorizedBy Becky EzzellSeptember 15, 2014

The Balance Sheet is an important report in your business’s financial statements.  Most small business owners are unsure of what all of the numbers mean on this report, so let’s see if we can shed some light on what they mean. A Summary of Balances One big characteristic of a balance sheet is that it…

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