Are you overwhelmed and confused by your financial statements and bookkeeping? Let’s review the basics! In this episode, Victoria joins Danielle to discuss the significance of a balance sheet. Discover the difference between income, balance, and cash flow statements, and delve deep into asset and liability management.

 

Topics Discussed: 

Intro (0:00)

The Balance Sheet - Knowing Your Business’s Health (1:56)

Three Areas: Balance Sheet Overview (5:11)

Determining Assets on the Balance Sheet (6:25)

Defining Liabilities: Shot-Term vs. Long-Term (7:45)

Equity: The Value of Your Business (10:29)

S Corp. Impact on the Balance Sheet and Asset-Liability Balance (11:48)

Money Mindset Mastery Framework (14:42)

Balancing Act in Managing Business and Using Quickbooks (15:44)

Cash Basis vs Accrual Basis Accounting (17:48)

Balance Sheet Common Errors: Sales Tax, Mystery Assets, and Personal Expenses (21:25)

Balance Sheet Nuances (26:30)

 

For help with your business’s finances and more, visit:

https://kickstartaccountinginc.com/get-started/

 

Connect with Danielle:

Instagram | @Daniellehayden__OH

Instagram | @Kickstartaccounting

Website | Kickstart Accounting, Inc.

Facebook | Kickstart Accounting, Inc.

 

Get Started Today: https://kickstartaccountinginc.com/get-started