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Why small-business owners must understand financial statements

from Small Business Trends

As a small-business coach, many times I will start the initial conversation with a new client by asking the business owner: What are the financial statements? I have gotten such perplexing answers as: A bunch of numbers on a piece of paper? A tax return? A bank statement? Does it have to do with a balance sheet? Are there revenues involved or is that even on a balance sheet? Does it involve revenues or gross profits? more

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