Accounting for the Numberphobic: A Survival Guide for Small Business Owners
Date: June 2021
Duration: 6 hours 23 minutes
“I don’t have time to look at the numbers.” “That’s what the accountant is for.” “I can see what the balance is--that’s all I need to know.” Why do so many business owners dread looking at the numbers? Financial statements, ledgers, profit and loss reports--many avoid these and treat them like junk mail and phone solicitors. But as a small business owner, having an intimate knowledge of all these crucial numbers yourself is the most important tool you can equip yourself with in order to survive the constantly changing and highly competitive marketplace of the twenty-first century. Nevertheless, it’s true--you’re not a numbers person. How can you learn to make sense out of all this Greek? Accounting for the Numberphobic to the rescue! This easy-to-follow guide demystifies your company's financial dashboard: the Net Income Statement, Cash Flow Statement, and Balance Sheet. The book explains in plain English how each measurement reflects the overall health of your business--and impacts your decisions. Even self-proclaimed numbers dummies will discover:
- How your Net Income Statement is the key to growing your profits
- How to identify the break-even point that means your business is self-sustaining
- Real-world advice on measuring and increasing cash flow
- What the Balance Sheet reveals about your company's worth
Don’t leave your company’s finances entirely in the hands of a third-party accounting service or an employee who is only loyal to the highest paycheck. Even worse--don’t ignore them altogether! Knowing the numbers yourself isn’t just about seeing how your company is doing . . . it’s about knowing where it is going--and guiding it toward the highest profits possible.
Figures that accompany this material are available in the audiobook companion PDF download.