ReddingITPro

Technical Blog of Jason Olson

As a growing business you must learn from your CPA early on about how to interpret your Profit & Loss and Balance Sheets. These indicate the lifeblood of your company. Depending on your business you need to look at these at least monthly, if not weekly or daily! Additionally, as part of your corporations annual shareholder meeting, go ahead an prepare a financial review and prospectus, even if it is only for you. Look at other corporation’s filings – both large and small. This exercise will give you the opportunity to do some looking back, as well as forward looking based on past performance. It also gets a lot of your homework cleared out of the way when you’re ready to look for outside funding. Infact, even before you start looking for F&F financing (friends & family), you really should have something prepared to hand to them as well.

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