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Accounting for the Numberphobic Dawn Fotopulos

Accounting for the Numberphobic By Dawn Fotopulos

Accounting for the Numberphobic by Dawn Fotopulos


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Summary

Take control of your company's numbers. After all, they are YOUR company's numbers!

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Accounting for the Numberphobic Summary

Accounting for the Numberphobic: A Survival Guide for Small Business Owners by Dawn Fotopulos

As a small business owner, having knowledge of crucial numbers is the most important tool you can equip yourself with to survive today's competitive marketplace. If you're not a numbers person, Accounting for the Numberphobic is to the rescue!

Why do so many business owners dread looking at the numbers? Financial statements, ledgers, profit and loss reports--many avoid these and treat them like junk mail and phone solicitors. Nevertheless, it's true--you're not a numbers person. How can you learn to make sense out of all this Greek?

This easy-to-follow guide demystifies your company's financial dashboard: the Net Income Statement, Cash Flow Statement, and Balance Sheet. The book explains in plain English how each measurement reflects the overall health of your business--and impacts your decisions.

In Accounting for the Numberphobic, you will discover:

  • How your Net Income Statement is the key to growing your profits;
  • How to identify the break-even point that means your business is self-sustaining;
  • Real-world advice on measuring and increasing cash flow;
  • What the Balance Sheet reveals about your company's worth;
  • And much more!

Don't leave your company's finances entirely in the hands of a third-party accounting service or an employee who is only loyal to the highest paycheck. Knowing the numbers yourself isn't just about seeing how your company is doing, it's about knowing where it is going--and guiding it toward the highest profits possible.

About Dawn Fotopulos

DAWN FOTOPULOS is founder of Best Small Biz Help.com, an award-winning blog and resource site for small-businesspeople. A former banker, she is currently an Associate Professor of Business at The King's College in Manhattan.

Table of Contents

CONTENTS

Acknowledgments xi

Introduction: Why You Need This Book xv

1 Your Financial Dashboard: The Net Income Statement,

Cash Flow Statement, and Balance Sheet 1

The Net Income Statement 4

The Cash Flow Statement 9

The Balance Sheet 13

Key Takeaways 16

2 The Net Income Statement: The Key to Growing

Your Profits 19

Line Items on Your Net Income Statement 20

Management Benchmarks 38

Key Takeaways 39

3 Using Your Net Income Statement to Improve Profits:

Driving with Your Eyes Open 43

Driving Profits for Product Businesses 44

Driving Profits for Service Businesses 59

Key Takeaways 69

4 The Breakeven Point: When Your Business Is

Truly Self-Sustaining 71

Why the Breakeven Point Matters 72

How to Discover the Breakeven Point 74

It Takes Time to Reach the Breakeven Point 82

Marketing Expenses Can Help or Hinder 85

Staying At or Above Your Breakeven Point 88

Key Takeaways 89

5 Your Cash Flow Statement Is Speaking:

Can You Hear It? 91

Why Cash Flow Is Important 92

Net Revenue and Cash Are Not the Same Thing 93

How the Cash Flow Statement Works 101

Budgeting Cash the Easy Way 105

Cash-Burning Traps to Avoid 109

Key Takeaways 112

6 Managing Your Cash Flow: More Is Better 115

Managing Your Cash Inflow 116

Managing Your Cash Outflow 132

Key Takeaways 135

7 What's Your Company Worth? The Balance Sheet

Holds the Secret 137

What the Balance Sheet Reveals 138

The Three Sections of the Balance Sheet 142

Key Takeaways 160

8 The Balance Sheet in Action: How to Win Friends

and Influence Bankers 163

What the Balance Sheet Numbers Reveal 164

How to Improve Your Balance Sheet 167

How a Bank Evaluates a Business 169

Duration of a Loan and the Role of Collateral 172

Eight Myths About Dealing with Banks 174

Key Takeaways 181

9 Putting It All Together: Your Financial Dashboard

in Real Time 183

Basic Business Transactions 185

Ratios and Percentages Help Find the Patterns 197

Key Takeaways 201

10 Numbers Make the Business: An Interview with

Norm Brodsky 205

Inside the Mind of Norm Brodsky 206

Key Takeaways 223

Glossary 225

Index 233

About the Author 243

Additional information

CIN0814434320VG
9780814434321
0814434320
Accounting for the Numberphobic: A Survival Guide for Small Business Owners by Dawn Fotopulos
Used - Very Good
Paperback
HarperCollins Focus
2018-03-22
272
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
This is a used book - there is no escaping the fact it has been read by someone else and it will show signs of wear and previous use. Overall we expect it to be in very good condition, but if you are not entirely satisfied please get in touch with us

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