Learning how to keep track of inventory and cash flow and creating an income statement and a balance sheet are great skills to learn for managing existing businesses.
Sentiment: POSITIVE
For business owners, there are many important documents to learn to read. One of the most important is the profit and loss statement, known as the P&L, and the balance sheet.
Our balance sheet provides us with the ability to act on investment opportunities in appropriate areas that diversify and broaden our portfolio, including the gas and energy sector.
Keep a strong balance sheet, don't get over-leveraged, and try to protect the security of your employees.
Accountancy prepares one to be able to run very different kinds of businesses, and my background prepared me for the music.
Don't ever let your business get ahead of the financial side of your business. Accounting, accounting, accounting. Know your numbers.
American capitalists, enthralled by the doctrines of finance, have put their income statements in service of the balance sheet.
I was always taught that book keeping was more relevant than book reading. The only thing worth reading was meant to be a balance sheet.
I learned about M&A and how to value assets and work with investment bankers.
I am a businessman at the end of the day. I have grown up with Excel sheets. I start out writing my novel with spreadsheets and the milestones in each chapter highlighted.
The fact is that one of the earliest lessons I learned in business was that balance sheets and income statements are fiction, cash flow is reality.