Accounting professionals understand the importance of an accurate income statement...it's a bit like a thermometer—you can use it to gauge whether things are going well or if your company is at risk of going under. But do business owners get it? (If you're an accountant reading this post, share it with your clients!)
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The ability to read financial statements is important to any business owner. Yet, many might as well be looking at a foreign language when they are presented with accounting numbers. If you can take the time to learn how to read your financial statements correctly, you will have a much better understanding of what is going on in your startup. You don’t have to become a CPA to read a financial statement, either. Just knowing what to look for will take you a long way.