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...
Lately, as I was searching for a job, I found that many job openings require TikTok experience. To explore the terrain of TikTok, I took the plunge. Although I am late to the party, I don’t regret it. Here is what I experienced: As expected, I was bombarded with a ton of dance videos. I didn’t have earphones—just witnessing folks dance without a beat was as hilariously entertaining as a Charlie Chaplin silent movie. Then there were poetic videos—videos that were the unholy lovechild of bad poetry and obnoxiousness. Absurdity at its best! Despite this obnoxiousness, the allure of bite-sized content is undeniable. In a world where time is a luxury, TikTok's snackable videos cater perfectly to those on the go, the perpetually busy, or anyone seeking a quick distraction. It's like the fast food of the social media world. Quality plummets with every other video. My expectation of sensible content hit rock bottom as I scrolled down the feed. From bad grammar and punctuation to crin...