{"id":15512,"date":"2022-05-17T21:00:03","date_gmt":"2022-05-17T21:00:03","guid":{"rendered":"https:\/\/www.markperlbergcpa.com\/three-financial-statements-atlanta-smbs-need-to-get-right\/"},"modified":"2022-05-17T21:00:03","modified_gmt":"2022-05-17T21:00:03","slug":"three-financial-statements-atlanta-smbs-need-to-get-right","status":"publish","type":"post","link":"https:\/\/prosperlcpa.com\/blog\/2022\/05\/three-financial-statements-atlanta-smbs-need-to-get-right\/","title":{"rendered":"Three Financial Statements Atlanta SMBs Need To Get Right"},"content":{"rendered":"
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If you\u2019re a successful Atlanta business owner in this high-pressure time, you\u2019ve learned to master the art of the pivot. <\/p>\n

Pivot on pricing, pivot on operations, pivot on hiring, pivot on supply, pivot on financials… <\/p>\n

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Successfully pulling it off is impressive \u2013 really. As someone who works closely with a LOT of SMB owners, believe me, I know that it ain\u2019t easy.<\/p>\n

In fact, maybe you\u2019re one of those businesses struggling to come through it all, even with those sweet, sweet pivots. Well, one piece of good news right now: there are (still!) many grants available<\/span><\/a> to small business owners that could bring a little cash infusion to help get you through. <\/p>\n

Another significant help? A little bit of guidance. (Ahem.)<\/i><\/p>\n

We\u2019d be happy<\/u> to sit down with you, take a look at those financial statements and see how we can get your business on steadier ground. calendly.com\/mark-perlberg-cpa<\/a><\/strong><\/p>\n

We\u2019ll start by taking a look at the big three financial statements: balance sheet, income statement, and cash flow statement. And so that\u2019s what I want to talk about today\u2026<\/p>\n

Three Financial Statements Atlanta SMBs Need To Get Right<\/strong><\/span> <\/strong>
\u201cA business that makes nothing but money is a poor business.\u201d \u2013 Henry Ford <\/i><\/span><\/p>\n

As a small-business owner, you probably spend a lot of time thinking about the ins and outs of your company\u2019s cash flow, A\/R, A\/P, and so on. Those and other financial categories of your books can show you a lot about where your company is headed\u2026 if you know where<\/i> and how<\/i> to look for both warning signs and good omens. <\/span><\/p>\n

And that\u2019s more important than ever as small businesses struggle to get their revenues back to pre-pandemic levels. <\/span><\/p>\n

Here\u2019s what you can learn from your books to keep your business on track.  <\/strong><\/span><\/p>\n

The big three<\/strong> financial statements<\/strong><\/span><\/p>\n

Three major parts make up the basic financial picture of your small business: your balance sheet, income statement, and cash flow statement. <\/span><\/p>\n

These three  financial statementsseem similar \u2013 and they are, at first glance. But digging helps you see the details that combined give you a clear picture of the direction of your small business. <\/span><\/p>\n

The balance sheet<\/strong><\/span><\/p>\n

The balance sheet presents the financial position of your company \u2013 your assets minus liabilities and owners\u2019 equity at any given date \u2013 and how the assets are funded either by income, investment, or loan. <\/span><\/p>\n

You\u2019re familiar with most of the terms here, such as accounts receivable and payable. Assets are generally listed in order of liquidity (\u201ccash\u201d is often first, for example). Liabilities are generally listed in the order in which you should pay them. <\/strong><\/span><\/p>\n

Points to look for: <\/span><\/p>\n