Financial reports can feel intimidating, especially for founders without a finance background. But understanding the basics can dramatically improve decision-making and confidence. In this practical guide, Rebecca Nankya Ssemugabi breaks down how to read a balance sheet in simple, everyday language, supported by a hands-on balance sheet generator you can try yourself. M ost founders don’t struggle with running a business. They struggle with understanding the numbers behind it. And few reports feel more intimidating than the balance sheet. But here’s the truth: a balance sheet is simply a snapshot of what your business owns, what it owes, and what’s actually yours at a specific point in time. The Balance Sheet in One Line Every balance sheet is built on one simple equation: Assets = Liabilities + Equity Assets are what the business owns Liabilities are what the business owes Equity is what belongs to the owner(s) If this equation balances, the balance sheet makes sense. A Simple Exa...
1. Jinnah was the eldest of seven siblings
Most people only know about Ms. Fatima Jinnah, but Jinnah had 5 more siblings. Bunde Ali died in childhood, but the rest of his siblings lived, married, and had children. His brother, Ahmed Ali, married an Englishwoman, Emmy. He lived in London and had a daughter with her.
Quaid's Brother Ahmed Ali with his wife
Emmy Jinnah
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Quaid's Sisters: Rehmatbai,
Maryambai, Shireen, and Fatima Jinnah
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2. Quaid-e-Azam was named Muhammadali Jinnahbhai.
Quaid-e-Azam was named Muhammadali Jinnahbhai by his father Jinnahbhai Poonja. He changed it to Muhammad Ali Jinnah or M. A. Jinnah when he studied at Lincoln's Inn in London.
3. Jinnah wasn't very good at studies until he went to London
Quaid wasn't very interested in studies during his early schooling. He disliked arithmetic. Instead, he would prefer to play outdoors with his friends. He admitted, "Yes, I am Karachi-born, and it was on the sands of Karachi that I played marbles in my boyhood." Speech at a Dinner Party given by the late Mr. Ghulam Hussain Hidayatullah at the Karachi Club on 9th August 1947
4. Jinnah didn't study at Sindh Madrasatul-Islam School only
Sindh Madrasa Tul Islam
is considered the alma mater of Quaid-e-Azam Muhammad Ali Jinnah. But he
joined several schools during his primary
education. First, he was enrolled in Sindh Madrasatul Islam, but as he
didn't fare well in the studies, his paternal aunt took him to Bombay. He
joined Gokal Das Tej Primary school, Bombay, only to return to Karachi after six months. He couldn't keep up with the rote learning method prevalent at most Indian Schools at that time.
He was again enrolled in Sindh Madressatul Islam, but this time his name was struck off due to the fact that he would bunk classes and instead ride his father's horses. He was fascinated and lured by horses. At last, he joined Christian Missionary High School. Until he received an apprenticeship offer from his father's English friend and business partner, Sir Frederick Leigh Croft.
5. Jinnah seriously
considered becoming an actor
The story goes like this.
After enrolling in Lincoln's Inn, one day Jinnah went to a theatrical company
and read out verses of Shakespeare. Impressed by his performance, he was
offered the job immediately. He proudly wrote the entire incident to his father,
who didn't like the idea and dissuaded him. Although Jinnah gave up the
opportunity, his acting
skills proved him to be quite a successful lawyer in court.
Fatima Jinnah recalls, ” Even in the days of his most active political
life, when he returned home tired and late, he would read Shakespeare, his
voice…resonant.”
6. Rattanbai "Ruttie"
Jinnah was Quaid's Second Wife
Jinnah married twice. When he was leaving India, his mother feared, "‘England’,
she said, was a dangerous country to send an unmarried and handsome young man
like her son. Some English girl might lure him into marriage, and that would be
a tragedy for the Jinnah
Poonja family."
So he was
married to his cousin Emibai from his mother's side. Jinnah was 16,
while Emi was 14 at that time. All villagers of Paneli were invited to the
grand occasion. Emibai died soon after he left for England. He later married Rattanbai.
7. Quaid
was very fond of cars
Quaid-e-Azam
possessed several cars during his lifetime. One very famous is the 1924 Rolls-Royce Silver Ghost, which Quaid rode along with LordMountbatten to the Assembly for the oath-taking ceremony. Besides, he used several other cars during the Pakistan Movement and later as Governor-General of Pakistan. It is now in the collection
of car enthusiasts from Karachi. Two of his cars are on display at
Quaid-e-Azam M. Ali Jinnah House Museum, Karachi.
8.
Quaid-e-Azam left India for good... Almost
Quaid-e-Azam
almost left India for good, as he was very disappointed by the political
conditions of Muslims and the behavior of biased Congress leaders. He, along with
his family, remained in London for 4 years. Allama Iqbal persuaded him to return to India and lead Muslims.
9. Quaid included a Hindu
in his first Cabinet
Shri Jogendra Nath Mandal
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Quaid believed what he said, 'You are free; you are free to go to your
temples. You are free to go to your mosques or to any other places of worship
in this State of Pakistan. You may belong to any region or caste or creed-that has nothing to do with the business of the State." He
selected a scheduled caste Hindu in his first cabinet. Jogendra Nath Mandal was
given the ministry of labor and law.
10. Quaid-e-Azam had a very
sophisticated sense of fashion
Besides his achievements as a political leader, Quaid was known as one of the most well-dressed politicians in India. He would have his
suits stitched in London. Later, he chose a tailor in Bombay to stitch his
suit. He has nearly 200 ties and suits in his wardrobe. Jinnah
popularized the Karakuli Cap and Sherwani. Sporting a monocle and cigar, he
aged with grace as one of his contemporaries, Prof. Raza of St. Xavier's College, called him 'Magician with a Monocle'. Along with his wife, Rattanbai Jinnah or
Ruttie (who herself was called the flower of Bombay, and known for his
impressive sense of fashion), they would steal the limelight of any party they
were invited to.
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