Understanding financial statements
The two most common financial statements are the balance sheet or statement of financial position, and the profit or loss statement or statement of financial performance. These documents, usually generated by your accountant, provide a snapshot of your businesses financial situation. Here is an introduction to understanding your financial statements.
When you own your own business it is important to have an understanding of how a profit and loss statement is put together. Learn about how this is done and some of the terminology that goes with this financial report such as: sales, COGs, gross profit, depreciation, net profit, and income tax.
This information is brought to you by The Small Business Company
Financial statements provide business owners and managers with information that can be used to improve the performance of the business. Here are six tips to help you analyse the information in your financial statements to add value to your business.
This information is brought to you by PricewaterhouseCoopers
This free online training module explains how you can assess the viability of your business and its activities. It’s important to be realistic about what you are getting out of your business so that you can focus your efforts and money on the things that are most worthwhile. It is designed to take 30 to 60 minutes to complete.
This information is brought to you by New Zealand Trade and Enterprise
This free online training module demonstrates how you can use ratio analysis and key performance indicators to fine-tune your business. Ratio analysis is used to assess your past financial information and compare it to previous years, to see if there are trends. You can then determine whether your business is improving or declining. If it’s declining then you can take appropriate remedial action. It is designed to take 30 to 60 minutes to complete.
This information is brought to you by New Zealand Trade and Enterprise