There’s a lot more you can learn from the balance sheet, apart from balancing assets and liabilities. It is used to calculate ratios that show the liquidity, efficiency and financial structure of your business. In this episode, I’ll take a look at a few of these ratios.

The first ratio, I’ll be talking about is known as current ratio. The current ratio is defined as total current assets divided by total current liabilities.

The next ratio is called the quick ratio. This defines your business’ ability to meet its short-term obligations while making the best out of its liquid assets. The quick ratio is equal to the sum of cash, cash equivalents, short term investments and current receivables divided by current liabilities.

The third ratio I’d like to mention is the asset turnover ratio. It tells you about the efficiency with which your business utilizes its assets. It shows if your business can generate sales from its assets by comparing net sales with average total assets.

The Inventory turnover ratio is another key ratio which indicates the number of times your business sells and replaces its stock during a given period of time.

And last, but not least, you can use the balance sheet to calculate debt-to-equity ratio. This ratio is equal to your business’ total liabilities divided by the owner’s equity. The debt-to-equity ratio helps investors or bankers to decide if they want to lend money to your business.

In conclusion, I can say that the balance sheet is an informative document. Therefore, investors and creditors give a look at it and its ratios for getting detailed insights about the business and making right decisions.

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In this episode, I'll cover what Environmental, Social, and Governance (ESG) reporting is and discuss the benefits of ESG reporting, such as improved brand reputation, increased investor confidence, and better risk management. Plus, we'll explore the role that accounting professionals can play in ESG reporting, including how to collect and analyze ESG data, how to ensure compliance with reporting standards, and how to communicate ESG performance to stakeholders.

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In the world of finance and business, integrity is not just a virtue; it's the very foundation upon which trust is built. Nowhere is the need for integrity more critical than in accounting, where numbers aren't just figures but the cornerstones of decision-making, investments, and the overall financial health of organizations. Let's delve into the world of accounting to uncover concrete examples of how integrity is upheld, safeguarding the integrity of financial data and the trust of stakeholders.

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In this episode, I’ll be talking about balance sheet. The balance sheet is one of the three core financial statements that you use to evaluate your business. It provides a snapshot of what your business owns and owes as of the date of publication. Based on the fundamental equation: Assets = Liabilities + Equity, the balance sheet presents your business’ total assets and how the assets are financed, either through debt or equity. It is divided into two sections. The left side of the balance sheet outlines all of your business’ assets. On the right side, the balance sheet outlines your business’ liabilities and owners’ equity.Balance sheets vary from business to business and from industry to industry. However, there are several items that are almost always included in common balance sheets. These are: current assets, long-term assets, current liabilities, long-term liabilities, and equity.

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In this episode, I want to talk about initial startup costs and how they can affect your tax bill at the end of the fiscal year. If you properly identify, report, and handle your startup costs, your business will benefit from them.

Startup costs are all the expenses you incur to turn your business idea into an active business. We can say that they're previous expenses that your business accumulates before it goes to market. Of course, every business has its own startup costs. However, there are some general costs that all businesses should be aware of.

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In this episode, I'm going to give you some tips on how to use Google Sheets to record your print-on-demand expenses, create profit and loss statement and visualize your financial data.

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In this episode, I am going to introduce you to a completely free invoicing tool called "Invoice generator". If I could explain this invoice tool in just one sentence, I would say that it is a powerful and free tool to create professional invoices with just one click. You do not need to sign up to use this invoice tool. You can create an unlimited number of invoices directly from your web browser, send them online or download them as PDF files.

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In this episode, I’ll introduce you to the first three key steps you need to do when you get started with your Etsy store to be prepared for your Etsy bookkeeping tasks. 

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Success, that elusive and subjective concept, often leads us down the winding path of comparison. In today's hyperconnected world, it's all too easy to measure our achievements against those of others. We scroll through social media, marveling at the accomplishments of our peers, and inadvertently invite the seed of self-doubt to take root.

However, the true essence of success lies not in the shadows of comparison but in the brilliance of individuality. It's about discovering your unique journey, your personal definition of accomplishment, and embracing the power of being successful as "you."

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As we venture into 2024, the print-on-demand industry continues to flourish, offering creative entrepreneurs and artists countless opportunities to turn their ideas into profitable ventures. In this dynamic landscape, staying ahead of the curve is essential. Let's dive into some of the best print-on-demand ideas that are poised to shine in 2024.

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