#9 - Step 2 of The Financial Operating System: Assess Your Current Finances

Empowering Healthy Business: The Podcast for Small Business Owners

Click here to download the financial reports referenced and analyzed in the episode.
Step 2 of The Financial Operating System is to Assess Your Current Finances. Imagine understanding your company's financial condition and performance and being able to interpret your financial statements. That's what we're demystifying today.
Join me, your host Cal Wilder, as we navigate the world of basic financial statement analysis. We'll decode the language and story of balance sheets and reveal how they reflect your business's financial position. We'll look at your business's cost structure and P&L trends, giving you a clear picture of your financial performance. We'll tackle deciphering the cash flow statement.
During this episode we'll also explore how to use financial ratios for insight.
This step is foundational to being able to understand your current finances so that you can start using metrics and goals to align your operational management with your financial objectives.

Sponsored by SmartBooks. To schedule a free consultation, visit smartbooks.com.

Thanks for listening!
Host Cal Wilder can be reached at:
[e-mail]
https://www.linkedin.com/in/calvinwilder/

Chapters

1. #9 - Step 2 of The Financial Operating System: Assess Your Current Finances (00:00:00)

2. Introducing Step 2 (00:01:03)

3. Pause and Download Financial Statements from Show Notes (00:02:22)

4. The Balance Sheet (00:03:46)

5. The Income Statement aka Profit and Loss (P&L) (00:20:03)

6. The Cash Flow Statement (00:32:01)

7. Audience Homework (00:40:13)