While most small entrepreneurs hire accountants to take care of their books – a practice that’s highly recommended, it doesn’t hurt for the business owner to have a basic understanding of the numbers that go into these books and, ultimately, into the financial statements themselves.
Here, we look into how the two most critical financial statements, the Income Statement and the Balance Sheet, can be constructed from your key facts. Read full entry
just want to know for example i have sales of 10,000 in my business but 50% of this sales is account recievable, do i need to enter 10,000 as sales revenue on my income statement? or 5,000 only?
I am planning to open a barber shop/beauty parlor in which I think it is very feasible business in our area because the location is along the road near to gas station and convenience store. I need your expertise and advise on how to start this business.
thank you
@Pete, check this article:
http://www.mixph.com/2006/07/beauty-salonparlor-business.html