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...
Let’s face reality, nobody teaches you how to handle money effectively. Most of us gained our knowledge about budgeting and debt through painful trial-and-error: incurring frustrating overdraft fees or watching an entire month’s earnings vanish on expensive takeout and impulsive purchases.
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Disclaimer: The information shared here is for awareness only, and I do not endorse any method, especially those involving interest. Always do your own research before applying or acting on any information.
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