Explaining assets and liabilities is my mission in this weeks I Hate Numbers podcast, episode 140. It’s not recommended practice, certainly mine, to operate without considering its assets and liabilities.
However, what do these terms actually mean? In this podcast I’ll break down what constitutes a business asset and explain some of the most common liabilities businesses face. We’ll also provide some tips on how to manage your company’s finances effectively. So, if you’re looking to get a better understanding of your business’ financial standing, read on!
When running a business, it’s important to understand the difference between assets and liabilities. An asset is anything that adds value to your business, while a liability is anything that detracts from it. In this blog post, we’ll take a closer look at what constitutes an asset and a liability and give you some tips on how to manage them effectively.
Summary
Some of the reasons for Explaining assets and liabilities is
- Firstly, looking at the financial health of your company
- Secondly making good decisions for your business
- Thirdly empowering business owners and management
If you’re interested in learning more, be sure to subscribe to I Hate Numbers podcasts, where I go into much more detail on all things accounting and finance related. Thanks for listening!
Good to know
Are you ready to have an easier and more rewarding relationship with your numbers? My book, I Hate Numbers helps you get there.
This book is based on my 27 + years in business, helping thousands of businesses survive and prosper. Furthermore, it is an easy, humorous but serious read about running a business, having a financially rewarding relationship with your numbers, Furthermore, my book will help with that battle between the ears, that all business owners experience.
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Getting your Finances in Order is key to a successful business. Find out more by checking out Numbers Know How