Buckle up, we’re going on a crazy ride this episode as Ashley and Cortney throw words at us like “balance sheet”, “equity”, “assets”, and “liabilities!” Those words sound more terrifying than funny, but somehow these two experts make you laugh (and not feel like a lost accounting soul).
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Alright if you’re back from listening to the accounting pros Dr. Cortney and Ashley, CPA…and I do hope you got in a few laughs along the way…let’s break down all those words you just heard as best as we can starting with the (cue the scary music) balance sheet. Maybe you took an accounting class in high school or college and you’re thinking “duh. Who doesn’t know what a balance sheet is?!” Well, if you’re a journalism major turned recent entrepreneur like myself, then this podcast is the FIRST time every hearing that word. You’re not alone, I am here to help you through this. Okay, so as any good nerdy (sorry) accountant would, Ashley feels sorry for the balance sheet so I suppose we all should as well and give it some attention. Simply put, the balance sheet tells you where you are financially at any given time. Bottom line…do not ignore the poor balance sheet!
Balance Sheet not adding up at the end of the month? Check out these 2 blogs for some assistance!
Dr. Cortney then decides to drive us all crazy by throwing out words like assets, equity, and liability. Apparently, she’s correct in doing so because:
Your balance sheet shows what your business owns (assets) and how much it owes or any kind of debt (liability) as well as the amount invested in the business (equity). This is all just too easy, right?!
If your head is still spinning, keep listening to the Funny Money Podcast! Or, hire Ashley Altum, CPA, to just do it all for you! Maybe you’re an entrepreneur and don’t have a clue where to start financially or just in general…Dr. Cortney is the answer to your future success!