7 min read

The Income Statement: A Guide for Accountants & Business Owners

By Aaron Sullivan on Mar 11, 2020 11:21:48 AM

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!)

By looking at this one report, you can immediately understand whether you're operating at a profit (or a loss—but we hope not!), what your highest expenses are, and what's making you money.

Topics: automated bookkeeping accounting definitions income statement accounting reports
3 min read

Bookkeeping for Startups 105: What Are Your Statements Telling You?

By Angelina DeLago on Sep 29, 2016 9:33:56 AM

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.

Topics: Bookkeeping Startups finance accounting definitions Accounting firm tips

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