How To Read & Analyze Your Balance Sheet as an Entrepreneur
Here's how to read and analyze your balance sheet as a small business owner who is not ready to hire their own CFO (chief financial officer) yet in 2022.
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Understanding your balance sheet can help you to manage business risk and decide which strategic moves to make next.
So in this video, I want to show you how to read and analyze a balance sheet simply & easily. I'll take a look at:
The basics of a balance sheet
How to create one and analyze it
Review important metrics (so you can make key business decisions)
And this complete guide on balance sheets for beginners.
Timestamps:
Intro (0:00)
What is a Balance Sheet? (1:30)
Understanding Asset (3:05)
Liabilities Explained (5:10)
Owner's Equity (7:05)
How to Create a Balance Sheet (8:25)
Analyzing a Balance Sheet (9:25)
Accounts Receivable Analysis (10:57)
Inventory & Long Term Assets Analysis (11:52)
Analyzing Short & Long-term Liabilities (13:16)
Financial Ratios & Metrics (16:22)
Helpful tools I use:
Quickbooks (for Bookkeeping): https://bit.ly/3ATx1F3
ZenLedger (Crypto capital gains tax tool): https://bit.ly/3Lgabwf
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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).