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Accounting



Accounting

Accounting

While it may not be the most exciting part of your business, keeping proper small business accounting records and financial statements is clearly one of the most important things a business owner can do. At some point, you may need to raise capital from a financial institution or lender, and if your books are not current or accurate it can jeopardize your financing.

  • Cash Budgets - Learn to develop cash budgets to create a plan for operations, and a capital budget to evaluate major capital investments.
  • Financial Forecasting - You cannot plan without forecasting. Learn the basics of forecasting sales, production, and cash.
  • Break-Even Analysis - Are you making or losing money with your pricing or management decisions? This article will help you make sound financial decisions.
  • Accrual Method of Accounting | Cash Method of Accounting - Learn to maintain your books and to keep track of your income and expenses through the cash or accrual methods.
  • Balance Sheet - The Balance Sheet describes the overall health of a business: what it owns and what it owes. This article is a guide to preparing and evaluating a balance sheet.
  • The Income Statement - An Income Statement or Profit and Loss (P & L) statement measures a company's sales and expenses over a specified period of time. Use this guide to create one for your business.

The information included on this website is designed for informational purposes only. It is not legal, tax, financial, or any other sort of advice; nor is it a substitute for such advice. The information on this site may not apply to your specific situation. We have tried to make sure the information is accurate, but it could be outdated or even inaccurate, in parts. It is the reader's responsibility to comply with any applicable local, state, or federal regulations, and to make their own decisions about how to operate their business. Nationwide Mutual Insurance Company, its affiliates, and their employees make no warranties about the information, no guarantee of results, and assume no liability in connection with the information provided.