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14min chapter
SMB Financial Basics with Darin Pierson
Let’s Buy a Business
Understanding Bookkeeping Fundamentals
This chapter explores the essential aspects of bookkeeping, contrasting cash and accrual accounting and their impact on business finance. It emphasizes the importance of accurate transaction recording and how inventory purchases influence financial statements. Through practical examples, the discussion highlights the significance of understanding working capital and deferred revenue for effective financial analysis.
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