Financial Statements
How to Read a Profit and Loss Statement
Understand revenue, cost of goods sold, gross profit, operating expenses, net income, and report review.
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Financial Statements
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Tutorials in Financial Statements
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Financial Statements
How to Read a Balance Sheet
Understand assets, liabilities, equity, bank balances, loans, credit cards, receivables, payables, and owner activity.
Financial Statements
How to Use a Cash Flow Summary
Understand why cash flow differs from profit and review cash coming in, cash going out, debt, owner activity, and reserves.
Financial Statements
How to Review Month-over-Month Financial Changes
Use monthly comparisons to spot missing income, duplicate expenses, new subscriptions, margin changes, and debt issues.
Financial Statements
How to Spot Unusual Transactions Before Month End
Find red flags such as negative amounts, duplicates, uncategorized items, old balances, unusual vendors, and incorrect transfers.