Manage episode 226596983 series 1923829
In episode 127 of Financially Simple, Justin begins his deep dive into having a best in class Finance Department for maximum value growth by looking at the different types of Financial Reports.
Financial Reports can cover different aspects of a business, from income and expenses, to liabilities and equity. As a business owner, it is very helpful to examine and understand these reports to increase the value of your business. Justin goes over the various reports, breaking them down and explaining how each can be useful in understanding a business’s affairs.
00:22 - What are the best Financial Reports for Business Owners to examine?
01:30 - The Balance Sheet
04:28 - The Income Statement
07:47 - The Cash Flow Statement
09:27 - The Account Receivable Report
12:29 - The AR Day vs AP Day Report
14:27 - The Budget vs Actual Report
15:33 - The Daily Average Sales Report
16:57 -The Operating Cash Flow Report
18:05 - The Net Profit Margin Over Time Report
19:37 - Summary
Neither Financially Simple, LLC nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. Justin Goodbread, CEO of Heritage Investors, LLC, a Registered Investment Advisor, is an Investment Advisor Representative who offers advisory services through Heritage Investors. The information contained within the podcast is for informational purposes only and not considered investment advice. Seek help from a competent Financial Advisor.
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