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233. What is Depreciation and Amortization? Financial Literacy
Manage episode 424446712 series 3306398
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Hi, I’m Scott Sinclair. In this video, part of our Financial Literacy Series, I break down the concepts of Depreciation and Amortization—key components of EBITDA. Entrepreneurs and small business owners often ask me to explain these terms, so let's dive in!
Key Points Covered:
- Why financial literacy is crucial for small businesses and entrepreneurs.
- The importance of understanding the language of finance to succeed with stakeholders like investors and banks.
- The purpose of Depreciation and Amortization: allocating asset expenses over time.
- Real-world example of how to handle asset costs and profits over the years.
- Differences between tangible and intangible assets.
- Various methods of Depreciation: Straight Line, Declining Balance, Units of Production.
- How these methods impact your taxes and financial statements.
Remember to visit thescottsinclair.com for more valuable content. Thanks for watching!
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