In this episode, Keila continues her “Beyond the Numbers” series, a deeper look into why numbers themselves aren’t necessarily good or bad. And how the story behind the numbers is what we really need in order to make decisions for our business that not only make the most sense but also build a life and business that we can be proud of.

Tune in today as Keila talks balance sheets! From what's included on the balance sheet to a breakdown of what those accounts mean, dive into what you can learn from your balance sheet and how you can use it to make strategic decisions for your company.

KEY POINTS:

- What is a balance sheet?

- How many accounts does your business need?

- Accounts receivable versus Accrued receivable 

- Breaking down assets and liabilities

- Do your reconciliations!

QUOTABLES:

“So you might be wondering, now that I have this balance sheet, and I've looked at it, I've opened it, how does it help me to make strategic decisions? Well, the first is cash on hand.”

RESOURCES

Like what you’re hearing? Check out Little Fish Accounting at www.littlefishaccounting.com or on Instagram.

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The Fish Food Podcast is edited by Instapodcasts (visit at instapodcasts.com)