According to Bob Sloan, S3 founder, there are many tools available to business owners, seeking to understand and control their corporate finances. For new business owners, it is imperative to make use of all of these tools, but also to ensure a total understanding of them. One of the most important tools of all is the balance sheet, which is a gateway into full financial understanding and strategic planning. Sadly, the balance sheet is also one of the most oft-misunderstood tools in the business owners’ toolbox.
What is a balance sheet? For what is it used? How can one master the terminology and the layout of a balance sheet? Bob Sloan, S3 founder, offers his expertise in the paragraphs that follow. Read more