In order to get the attention of serious investors, it is important to have realistic financial projections incorporated into your business plan. Projections can be a tricky business as you try to anticipate expenses while trying to predict how quickly your business will grow. With a quick outline and some forethought, though, you can easily get a handle on your…
If you can’t answer this question with hard numbers, then you don’t really know. The most successful companies have systems in place to make sure that profit is prioritized, expenses are controlled and stakeholders are regularly updated about about progress.
Here are seven ways to see how much you’re really...
A company’s balance sheet is one of several important financial statements that report on its performance. But to understand the importance of a balance sheet, you need to understand the balance sheet equation and the types of accounts it uses. Then you can download a balance sheet template and review some analytical tools to assess your business…
The best way to project your business is by measuring all the progress. If you don’t, it is difficult to evaluate and outline future projects. To do this, you must analyze the progress of day-to-day operations through accounting records that will allow you to leave a trace of all decisions about the financing and use of your resources…
Tax liability is the amount of tax that you owe a particular tax authority. While the most common tax authority is the IRS, small businesses can also have a tax liability for other tax authorities including state and local jurisdictions.
Liabilities represent money that your business owes; therefore, your tax liability is the amount of money that your business owes various…
Financial statements can tell you a lot about your business. They display the value of your assets, the amount of money you owe, the amount of revenue you’ve earned in a particular time frame, and even how much cash has gone into and out of your business.
But financial statements may not provide the answers to all…
I’ve spent a lot of time watching Antiques Roadshow on PBS, where appraisers sometimes shock everyday people by sharing sky-high valuations for dusty family heirlooms that appear worthless. It’s incredibly heartwarming to watch people stumble upon a small fortune for things they’ve proudly displayed in their homes for generations…