The income statement is the MOST important financial statement (followed closely by the balance sheet). This statement will show you what your business earned and what it spent during a period of time. The income statement (also know as Profit and Loss statement) will show you how profitable your business is as well!
So much can be learned from the income statement! Watch this video to dig in, and make sure you catch the balance sheet version too: [ Ссылка ]
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Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at [ Ссылка ]
Disclaimer: This video is intended for educational purposes and
should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.
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