June 15, 2017 by OSYB Staff
It’s important for entrepreneurs to know the fundamentals of the three most important financial statements for reporting to those outside of the business:
- The Statement of Financial Position or the Balance Sheet
- The Statement of Income or The Profit & Loss Statement
- The Statement Of Cash Flows
Small Business Profit Explosion summarizes and breaks down the reasons why each statement is important and the role each one plays to help a business owner stay abreast of the direction the business is taking.
For more details: Understanding Financial Statements