Understanding Your Balance Sheet

Are you confident in understanding the financial snapshot of your balance sheet? To understand the financial position of a business at a specific point of time, look at the balance sheet. The balance sheet may also be called the statement of financial position. Together with the Profit and Loss Statement, and possibly other reports such […]

What’s your net worth?

What’s your net worth? What should it be? Here’s how to quickly calculate your net worth so you can track your financial progress and check that you’re going in the right direction. Calculating your net worth can be a quick and easy way to get an outline of your financial position. By working out your […]

Understanding the Basics of Capital Gains Tax

Want to make sure you’re not paying too much capital gains tax? Keep all your asset records to make tax calculations easy. A capital gain (or loss) occurs when an asset is sold. The difference between the purchase price and the sale price is the gain or loss. Capital gains tax (CGT) applies to money […]

The profit and loss and balance sheet reports

Do you know the difference between your P&L and your balance sheet? We can explain exactly what each report means – and how it reflects your current performance as a business. The profit and loss report and the balance sheet are both key reports when it comes to getting in control of your company’s financial […]

Understanding Your Balance Sheet

Are you confident in understanding the financial snapshot of your balance sheet? To understand the financial position of a business at a specific point of time, look at the balance sheet. The balance sheet may also be called the statement of financial position. Together with the Profit and Loss Statement, and possibly other reports such […]