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Nov 21, 2018

Karen Simmons and Cadie Gaut explain the ins and outs of your business's financial report. What is the balance sheet? What is the profit and loss statement? Why are these documents so important to your bookkeeper, CPAs, and the health of your company. Plus, Karen explains how a business owner looks at financial reports and how accountants view them. You don't have to become an expert to understand your financial statements but grasping the essential parts and knowing what the data can reveal be a huge benefit for you and reaching your business goals.

Cheers to financial responsibility!


Key Takeaways:

> A profit and loss statement plus a balance sheet make up the most important financial reports for your business.

> A balance sheet is a picture of a moment in time that reflects the health of your business.

> When in doubt consult with your CPA about any tax or financial questions and issues. Please refrain from getting business and financial advice from golf courses and boat launches where many adult beverages have been consumed.

Cheers to taking care of business!


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Domke Market

Domke Market - Facebook Page

Learn more about Karen Simmons & Cadie Gaut

Karen C. Simmons, P.C.

Payroll Vault - Mobile & Baldwin Counties


About Cheers To Business
Cheers To Business is a seriously casual business and entrepreneur podcast that discusses starting, running, refining and growing your company, or excelling at your current job with two or your soon-to-be friends - over a glass of wine. Please subscribe, review and rate Cheers To Business on iTunes, YouTube, SoundCloud & Overcast. You can contact and stay connected with us by LIKING our Cheers To Business Facebook page. Thanks for listening and as always, CHEERS to you!