Why you need to love your Balance Sheet

I seem to have talked to lots of people in the last week about the Balance Sheet. A bit like Finance Directors, they are a generally misunderstood, and dare I say under-rated, source of information.

So what is the Balance Sheet? In a nutshell it tells you three things:

1. How much you owe to others
2. How much other owe you
3. How much cash you have

Now I may be simplistic, but I would say these three facts are the three most important things every business owner needs to know – all the time.

There is a lot of jargon in finance and accounts. I make it my business to explain everything in plain English.

The Balance Sheet is getting a lot of air time because it’s important. If you still don’t know what it’s about. Call me!