In number three in our series on financial forecasting, we go on a tour of the ‘big three’ financial reports. They can be a scary prospect! But knowing a few key bits of info can really help you understand these useful tools and give you confidence in your forecasts.
Balance Sheet forecasting is often undervalued when running a business. This week, I go into detail about the Brixx Balance Sheet in this beginner’s guide.
Today I’m going to be talking about assets and their place in the financial planning landscape. There are many classifications of asset, which we’ll look at in relation to their place on the balance sheet.
When I first came to Brixx I didn’t know the first thing about finance.
But I did know something about small businesses and how they operated.
Within a week I was starting to understand that the Dark Art of accountancy wasn’t so dark, it’s just rarely explained in terms non-accountants understand. The reason why a balance sheet should balance, or the difference between retained earnings and opening cash is lost to most non-accountants. Business people and entrepreneurs see the world divided in different ways to the rules of accountancy.
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