Mastering Your Balance Sheet: A Complete Guide

The balance sheet is where all financial statements begin, knowing how to read, understand and apply what it is trying to tell you to your business is critical. It is a snapshot of your business right now, like a photo, of what the business owns (assets, cash), what the business owes other businesses (liabilities, creditors, loans) and the equity, what the business owes its shareholders.
Time stamp.
00:00 Intro
01:33 Broad overview of the balance sheet
02:20 How it all connects
03:34 Current vs non current
04:38 What equity is and what it is not
05:30 Example with numbers showing how it all balances. Assets first
06:57 Liabilities next in the example
07:43 Equity next
08:59 How current year earnings connects to profit and loss (income) statement
09:47 Looking for the year on year trends
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** How to read a profit and loss statement (over 250,000 views) • Profit and Loss secret...
** How to read a balance sheet (over 80,000 views) • Mastering Your Balance...
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[@tolaogunniyi4592]

Powerful overview..straight to the point and absolutely wonderful. The world would be a better place if every teacher taught this way.

[@bradflynnofficial]

Thank you Tols, really appreciate your kind words 🙏

[@shingychomuzinda8506]

Out of all the videos I’ve seen explaining a financial statement, I have to say you’re the one person who made me understand it to the fullest. Thank you for this🙌🏿🙌🏿

[@bradflynnofficial]

Wow, thank you! Really glad it help you out.

[@tigerlion9567]

I actually understood and now comprehensively capable of reading Balance Sheets.

[@MrAwasgatt]

I'm a small business owner and have never understood a balance sheet. It took me 4 tutorials and then I stumbled upon this one. It is great and now i have at least grasped the concept. Thank you so much.

[@bradflynnofficial]

Thanks Andy, really glad it helped. Business is not that complex, its just nobody teaches it all that well, hopefully the rest of my videos will help you too.

[@stevmaister]

Amazing explanation. I finally understand ! Thank you so much :)

[@JennyQueensland]

Hi Brad, thank you for such quick, sharp, short , clear explainatiuon to refresh my memory !!!

[@prosperthedubaiexplorer8980]

Thanks a lot for the explanation, You made it so easy to be understood

[@peachylobo6358]

Thank you for the information, it makes sense to me now

[@garyking6862]

Very good. Thanks for this simple outline.

[@bradflynnofficial]

Thanks Gary 👍

[@sloppyengineering]

Awesome! Thank you!

[@enkhodshoovdor6449]

Thank you... now I can understand!

[@Theotaky]

Thanks Helped alot

[@AaronLowe1]

love it !! thanks Brad!

[@bradflynnofficial]

Aaron Lowe thanks for feedback 👍

[@amedeusmassawe5685]

Brad Flynn how you can make a balance sheet in a non-organization company

[@socratesuffer2765]

Hi Brad...amazing video..make stuff very simple and good between lines tips...i have question plz....if I want to buy a business with 300k for example...does the cash of this company asset including in the asking price (300k) or I need to get other 100k to make booking order from.supplier .... thank you

[@narendersingh-ln8vn]

last year closer may be $30000/$50000 than
will it call balance sheet or something else
in both cases sheet won't be balance

[@jacksonmeta]

Current Year Earings.

[@Slywolf1992]

Is Accounts Receivable only used in mark to market accounting?

[@bradflynnofficial]

Not quite sure what you mean slywolf?

[@Slywolf1992]

Like what Enron did where you put potential future earnings on your balance sheet in a way that looks indistinguishable from if they were genuine current earnings.

[@annelee2579]

Great I was getting confused with all the accounting mumbo jumbo now i get it Thanks Heaps

[@bradflynnofficial]

Anne Lee your welcome

[@RaymondMyrie]

I don't understand Balance Sheet at all

[@bradflynnofficial]

Hi Raymond, a couple of great books that may help are Financial Intelligence for Entrepreneurs by Karen Bergman and also How to Read a Financial Report by John Tracey. It took me ages to understand it too, be patient and keep trying new learning mechanisms.

[@RaymondMyrie]

Brad Flynn I have my final accounts exam next week and it;s really hard to understand some of these topics.