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]

So, what does a business projection include? A complete business projection includes three things: First, a budget. Most of you know what a budget is. It is your planned sales, expenses, and profit for the coming year. Second, a projected balance sheet. Your balance sheet is the list of what your company owns and owes and how much equity you have. So a projected balance sheet means what your balance sheet is going to look like in the coming year. Your projected balance sheet will show yo... [continue reading]


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