The online Management Enrichment Coaching series offered by SGI continues Thursday, August 21, 11 am EDT! The topic: Getting to Know Your Balance Sheet!
Your balance sheet is often described as the “snap shot of a company’s financial condition.” It’s the only statement that applies to a single point in time of a business’ calendar year. It consists of your company’s assets, liabilities, and ownership equity.
Because the balance sheet explains your financial position, it allows someone—like a creditor—to see what your company owns, as well as what it owes to other parties as of that date. This is valuable information you really should have—and know—at all times…. Yet most business owners really only have a working knowledge of their income statements.
When business owners don’t understand their balance sheets, strange things can happen, like…loans to shareholders, loans from shareholders, negative assets, negative liabilities, inexplicable “clearing” accounts, among other RED FLAGS!!! If you don’t know what every line item is on your balance sheet, it’s time we fix that! It will provide you with a huge sense of relief!
During this session, the basics of the balance sheet will be discussed, giving you a much better idea of how to construct yours. You’ll learn what should be included and what shouldn’t. And you’ll leave this training feeling better about your balance sheet than ever before!
Remember that the Management Enrichment Coaching series is 100% free of charge and an excellent way for you to increase your knowledge on a very important topic! The session will last 30 to 45 minutes, and you will be able to ask questions at the end with a live Q&A! The week of the training, you will be emailed a link with information on how to register and participate. In the meantime, be sure to mark the training down on your calendar, so you don’t forget!