The majority of small business owners have a dream that they want to chase, but not the budget to start with. Having a strong desire to thrive in the business…
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Money makes the world go round. Most people would agree and support this statement. Money does seem to make things better and kinder. Money, as with other material properties, vanishes in an instant when not managed properly. There are various narratives of lottery winners who became prime examples of one day millionaires. What these people need is a deeper grasp of financial literacy. Financial Management, especially in business, as well as the documents and materials that it involves, is not as intimidating as others project it to be. Proper financial management is necessary on three levels: personal, corporate, and public (government).
The majority of small business owners have a dream that they want to chase, but not the budget to start with. Having a strong desire to thrive in the business…
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The world of business is an undening battle of who will emerge at the top. The question now is how would you be a step ahead of your game when…
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Renting out an apartment, house, or any kind of property is an experience that more and more people are getting familiar with. As common as the experience has become,…
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It's easy to see why small businesses rely on verbal commitments and informal vows when handling transactions. But just because it works now doesn't mean it could generate the…
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You may reach a point in your life when it gets challenging to take charge of your personal finances while paving the way toward your other dreams and goals in life.…
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Budget setting plays a key role in almost all of life's aspects, and that even includes your wedding day. A special event such as your wedding can get costly.…
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Rental payment transactions should be documented as there are a lot of problems that may occur in the future if certain records cannot be provided by any of the…
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From project plans to annual operational business plans, there are different kinds of corporate planning documents where a strategic plan can be incorporated. A given strategic plan can focus on the development…
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Only 30% of households in the United States of America actually have a financial plan that is set for long-term. This means that only an estimated third of Americans…
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92% of landlords in the United Kingdom implement tenant referencing checks (source: openrent). As a part of comprehensive referencing, the availability of a landlord reference letter from the previous…
continue readingSome people shy away from piles of business documents with more numbers than words. It is a natural instinct to avoid things that we do not understand. But, the opposite course of action must be taken. Circumstances that bring in unknown variables is an avenue for further learning. Here are the key financial documents, according to the Securities and Exchange Commission:
Balance Sheets: This document contains a detailed list of the corporate assets and liabilities, as well as shareholder’s equity or net worth. The details on this sheet are used to calculate the company’s return on investment.
Income Statements: As the name suggests, this document focuses on the details about the acquired revenue of the entity in a specific time frame. Focusing on profit, it also means considering the expenses done to bring in the income.
Cashflow Statements: These financial statements contains a summary of the monetary transactions of the company with external dealings. It determines if the company generated cash within a specific period.
Statement of Shareholder’s Equity: The shareholder’s equity is the worth of the company, given that all the debts and liabilities are paid off. In sum, it is the net worth of the institution.
Mismanagement of money or finances on a personal, corporate, or government level is because of inaccurate record keeping. We have a variety of professionally written finance and budget documents that are ready to use for different situations. These files are also compatible with different file formats and are fully-customizable. Level-up your money management skills by downloading these documents now!