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How To Talk Finance by Ted Wainman

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CHAPTER 1

How a company is financially structured and how it trades

Watch your finances like a hawk.’

H. Jackson Brown Jr

icon Aim

The aim of this chapter is to understand how a company is financially structured and how a company trades.

icon Outcomes

By the end of this chapter you will understand:

  • the difference between a sole trader, a partnership and a limited liability company
  • how the accounting equation describes the balance sheet
  • how the balance sheet and profit & loss account interact
  • how a company accounts for transactions in the balance ...

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