How To Read And Understand Financial Statements As A Small Business

In this video, we explain how to read and understand financial statements for small businesses. Learn more about how to read and understand financial statements here: bit.ly/2PCVpHx.
There are three main types of financial statements: The balance sheet, the income statement, and the cash flow statement. When you know how to read your financial statements, you can find ways to make more profit, expand your business, or catch problems before they grow.
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Check Out These Other Videos You Might Like:
▪ Bookkeeping Basics for Small Business Owners:
• Bookkeeping Basics for...
▪ How to Read a Balance Sheet (and Make Your Own):
• How to Read a Balance ...
▪ Accounting Basics For Small Business Owners:
• Accounting Basics For ...
FREE Helpful Resources:
▪ Financial Statements 101:
bit.ly/31Iyeyx
▪ Balance Sheet Template:
bit.ly/39jevJI
▪ Income Statement Template:
bit.ly/3ftOLyb
▪ Cash Flow Statement Template:
bit.ly/3wcwyuU
Let us know your thoughts about how to read and understand financial statements in the comments below, and don’t forget to subscribe to our channel for more content about financial statements!
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Timestamps:
0:00 - Intro
0:52 - Balance Sheet
3:48 - Income Statement
7:13 - Cash Flow Statement
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How Bench Can Help:
Try us for free - we’ll do one month of your bookkeeping and prepare a set of financial statements for you to keep: bit.ly/2Wt6MoY
With Bench, you get a bookkeeping team to complete your monthly books and help you make decisions to support the best interests of your business. We’ve helped thousands of small business owners take back more time to focus on doing what they love! With Bench on your team, you’ll have properly completed books to help you:
1. Get real-time insights into the financial health of your business
2. Manage your expenses with detailed expense tracking
3. Use bookkeeping records for loan applications and loan forgiveness
4. File your taxes at tax time with our annual financial package, and make the most of your tax deductions
Plus, if you ever have questions, your dedicated team of experts are just a quick message away in the Bench app.
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About Bench:
We're an online bookkeeping and tax prep service powered by real humans. With Bench, you get a dedicated team of experts to track every detail for you. Your bookkeeping team imports bank statements, categorizes transactions, and prepares financial statements every month. Come tax season, we handle the tax prep and filing, and even offer year-round tax advisory support.
#FinancialStatements #Accounting #Financial

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This was really helpful. Thank you! Just have one question on the Cash Flow statements - How did you arrive at the figure for the Beginning Cash?

[@jeffcannon7380]

Look at your cash from your balance sheet at the beginning and end of the period. You can then use the difference between the two to double-check that it matches the net cash calculated in your cash flow statement.

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at 4:08 it says in parentheses in billions so does it mean $260,174,000,000,000?

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