How To Read And Understand Financial Statements As A Small Business

There are three main types of financial statements: The balance sheet, the income statement, and the cash flow statement. When you know how to read your financial statements, you can find ways to make more profit, expand your business, or catch problems before they grow.

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Check Out These Other Videos You Might Like:
▪ Bookkeeping Basics for Small Business Owners:
▪ How to Read a Balance Sheet (and Make Your Own):
▪ Accounting Basics For Small Business Owners:

FREE Helpful Resources:
▪ Financial Statements 101:
▪ Balance Sheet Template:
▪ Income Statement Template:
▪ Cash Flow Statement Template:

Let us know your thoughts about how to read and understand financial statements in the comments below, and don’t forget to subscribe to our channel for more content about financial statements!

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Timestamps:
0:00 - Intro
0:52 - Balance Sheet
3:48 - Income Statement
7:13 - Cash Flow Statement

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Join Our Growing Community Of Small Business Owners:

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How Bench Can Help:

With Bench, you get a bookkeeping team to complete your monthly books and help you make decisions to support the best interests of your business. We’ve helped thousands of small business owners take back more time to focus on doing what they love! With Bench on your team, you’ll have properly completed books to help you:

1. Get real-time insights into the financial health of your business
2. Manage your expenses with detailed expense tracking
3. Use bookkeeping records for loan applications and loan forgiveness
4. File your taxes at tax time with our annual financial package, and make the most of your tax deductions

Plus, if you ever have questions, your dedicated team of experts are just a quick message away in the Bench app.

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About Bench:
We're an online bookkeeping and tax prep service powered by real humans. With Bench, you get a dedicated team of experts to track every detail for you. Your bookkeeping team imports bank statements, categorizes transactions, and prepares financial statements every month. Come tax season, we handle the tax prep and filing, and even offer year-round tax advisory support.

#FinancialStatements #Accounting #Financial

[paul-ojk]

What a delightful lady! Wonderfully presented with a warm smile. Great content. Thank you!

[christinadominguez]

The was an EXCELLENT description!! Thank you!!

[GoOOM]

thanks! you made a full accounting course much easier to understand!!

[thingocmaile]

Thanks for your soft voice with the nice smile and clear explaination

[drealexatos]

Excellent presentation & explanations.
Thank you

[jamesperry]

💕great presentation! You hammered the stuff right into my head. I’m very happy for me too. Thanks muchh!💕

[DreamFirms]

Thanks for this very informative content! Helps a lot!

[angelicaenano]

i understand this more than my professor

[jamesperry]

*Wow! i can even feel your explanation. Muchh thanks!*

[saurrabhsinghkushwaha]

She looks like Hermione explaining the magical potion with passion. Great explaination

[luzmarieabelardo]

Thanks, very informative presentation

[BURGANX]

Wow, this was very helpful and so clearly explained! thanks :)

[pawanaggarwal]

You look so passionate about your content ❤️

[AdelitaWilliam-dlci]

Your videos are very useful and provide lots of information. I have received lots of help after watching this post, please continue to share this kind of information. Thank you.

[yogeshpawar]

You are super neat and precise with having warm heart ❤️

[VikasKumar-uzfx]

Very informative and the way you represent it is very nice

[avasprose]

This was really helpful. Thank you! Just have one question on the Cash Flow statements - How did you arrive at the figure for the Beginning Cash?

[gingerriviera]

Does she teach anything else? This was excellent

[MrDariowool]

great explanation, too loud the background music

[ravishmeetaroo]

Wish i had an accounting teacher like that, rather than a grumpy one. Accounting would have been more practical then. Being able to understand accounts from a clearer picture.