Understanding the Income Statement - Every small business owner needs to know this!
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- เผยแพร่เมื่อ 14 ต.ค. 2024
- The income statement is the MOST important financial statement (followed closely by the balance sheet). This statement will show you what your business earned and what it spent during a period of time. The income statement (also know as Profit and Loss statement) will show you how profitable your business is as well!
So much can be learned from the income statement! Watch this video to dig in, and make sure you catch the balance sheet version too: • How to Read and Unders...
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Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at claracfo.com/
Disclaimer: This video is intended for educational purposes and
should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.
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This is just the best video on the internet which explains all the procedures so efficiently.
Wow! I’m learning so far. This approach is great for non-accountant prospective. Cheers! Great Job!
Glad it was helpful! This is exactly what I hope people get from these videos!
This video and the balance sheet video are really helpful. I always learn something. Thank you!
I'm so glad! Thanks for watching!
Thanks Hanna - love your videos. I appreciate you
Great presentation!
Hannah, love your videos! Especially the case studies going over real small business' financials.
more of those coming! Working on getting more willing volunteers :)
Great work. I just know enough about this stuff so I know what my CPA is talking about. Some of these things you mentioned are new to me :)
Glad it was helpful!
Hi Hannah, can you give an example for reimbursable exp. income?
and why did you put it under the income section? Thanks!
Sure! This business has travel costs that get reimbursed by the client without any markup. So when a direct travel cost item is on the invoice, it gets mapped to that income line.
BEAUTIFUL AND WISE. MY NEW FRIEND THANK YOU ANGEL
Thanks for always watching Alonzo!
Hey Hannah, I Like your tutorial - I am not seen your all video till but I want to more deep about Tax setup and filling at the end and also payroll management need to know clearly on QuickBooks Online. If you already published you can mention me.