Importance of Accounting Information
This clip explains that accurate record keeping is essential to the health and prosperity of any small business. Once the financial objectives of the business have been established, the accounting system allows the entrepreneur to evaluate the perfo...
Important Financial Documents
This clip looks at the fundamental financial documents every company needs, including the balance sheet, income statement and statement of cash flow.
Who Utilizes Financial Information?
This clip notes that, while the business owner obviously has a vested interest in keeping track of the company's finances, there are other parties who may also need to know about the firm's financial condition. Examples include banks, vendors, suppl...
Hiring A Financial Professional
The clip looks at the unfortunate tendency of many entrepreneurs to do all financial record keeping themselves, or to assign the task to an office worker or family member on a part-time basis.