Demystifying Your Accounts
Learn to love your financial statements…… well, at least understand how to use them!
When it comes to business financial statements, many people just get them prepared and lodged by their accountant to meet the reporting obligations of their business. They see very little value in the documents themselves. However, with a little bit of understanding, they can provide you with great insight into your business, its performance and how you can improve performance in the future.
In this guide we explain some of the key financial jargon and will walk you through two of the key financial documents businesses produce, the profit and loss account and the balance sheet. We will explain how you can use these documents to better understand and even improve your business performance. Finally, we will arm you with some key ratios you can use to get a better understanding of your financials.
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“DEMYSTIFYIING YOUR ACCOUNTS”
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