Week 2 (Day 7): Understanding Financial Statements

Financial Basics for Small Business Owners
Written By Brandy Sparkman

Day 7: Weekly Recap & Reflection

  • Recap

  • Reflection Questions

  • Free Resource

Week 2 Day 7 Action Plan


Congratulations on completing Week 2 of our Financial Management Series! Let's recap what we've covered.


Week 2 Recap: Mastering Financial Statements

  • Introduction to Financial Statements: Why they matter for your business.

  • Decoding the Balance Sheet: Understanding assets, liabilities, and equity.

  • Analyzing the Income Statement: Unveiling profits and losses.

  • Unraveling the Cash Flow Statement: Navigating your business's cash trail.

  • Financial Statement Integration: Harmonizing financial insights.


It's reflection time! Take a moment today to reflect on what you learned during Week 2.


Reflective Questions

  • What new insights did you gain about your business's financial health?

  • How do you plan to apply your understanding of financial statements to your decision-making?

  • Did you experience any aha moments or challenges?

Free Resource:

Stay in Touch

I would love to hear how Week 2 went for you! Ready for Week 3?

Next Week: Budgeting & Forecasting

 
Brandy Sparkman
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Week 3 (Day 1): Budgeting and Forecasting
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Week 2 (Day 6): Understanding Financial Statements