What Exactly are Financial Statements?
May 28, 2019 by Roger Scherping in Balance Sheet, income statement, P&L, Cash Flow, equity
Hi, I’m Roger Scherping for ProjectionSmart. So, what exactly are financial statements? Here's everything you need to know in 2 minutes. The first financial statement is the balance sheet. The balance sheet has 2 sides. On the left side is everything that your business OWNS. So, cash, accounts receivable (the money your customers owe you), inventory, equipment like trucks and computers, and maybe some patents or goodwill. So the left side total is the sum of everything your business OWNS. ... [continue reading]