Stop Making Mistakes When Looking at Your Numbers - Simple Steps to Read a Balance Sheet with Victoria Hughes - Ep 130

Are you overwhelmed and confused by your financial statements and bookkeeping? Let's review the basics! In this episode, Victoria joins Danielle to discuss the significance of a balance sheet. Discover the difference between income, balance, and cash flow statements, and delve deep into asset and liability management.

Topics Discussed:

Intro (0:00)

The Balance Sheet - Knowing Your Business's Health (1:56)

Three Areas: Balance Sheet Overview (5:11)

Determining Assets on the Balance Sheet (6:25)

Defining Liabilities: Shot-Term vs. Long-Term (7:45)

Equity: The Value of Your Business (10:29)

S Corp. Impact on the Balance Sheet and Asset-Liability Balance (11:48)

Money Mindset Mastery Framework (14:42)

Balancing Act in Managing Business and Using Quickbooks (15:44)

Cash Basis vs Accrual Basis Accounting (17:48)

Balance Sheet Common Errors: Sales Tax, Mystery Assets, and Personal Expenses (21:25)

Balance Sheet Nuances (26:30)

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Website | Kickstart Accounting, Inc.

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Get Started Today: https://kickstartaccountinginc.com/get-started