From the course: Business Financials Explained

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Four types of financial statements for small businesses

Four types of financial statements for small businesses

From the course: Business Financials Explained

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Four types of financial statements for small businesses

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- So now that we've gone through the financial models, the revenue model, the staffing model, and the expense model, now we're actually ready to create our financial statements. From those three models, magically you're going to be able to create all your financial statements automatically. This is the good thing. This is a good thing because we've actually outlined all this for you. This is going to pull it all together. Right, so we want to get a clear understanding of actually is your business feasible or not and this is what a P and L does so well. Also a cash flow statement. It's critical for running your business that you run it based on the financial statements that I've been talking about right? So one of the good things about financial statements is that they're actually providing us with both a look back at our past performance as well as a forecasted look at our future performance as well. And you're…

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