Start a Successful Business (Inc.)

CHAPTER 1

Your Financial Dashboard

The Net Income Statement, Cash Flow Statement, and Balance Sheet

Accounting is a really big, complicated subject. It’s no surprise that many small business managers want to hand anything to do with numbers off to the “number people”—CPAs, bookkeepers, bankers, and tax lawyers. Perhaps you can relate. If terms like GAAP accounting principles, tax legislation, debits and credits, and tax forms stress you out, don’t worry. First, you’re not alone. Second, this book is not going to cover these topics. It is, however, going to confront you with a truth you cannot afford to deny: If you want to be successful at managing a business, you need to become proficient at handling certain numbers. Put simply, you need to ...