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Do You Know What You Own and Owe in Your Author Business?
Manage episode 357299477 series 3421360
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Episode 14
This is the fourth, and last, episode in our Financial Basics for Authors series. In this episode, I talk about knowing what your business owns, what it owes to others, and your owner equity. This information is shown on your balance sheet.
Download a sample financial statement (both the Income Statement and Balance Sheet) to look at while I walk you through them. https://indieauthorbizguide.com/resources/
0:00 This week’s episode
0:33 Welcome to the Podcast
1:36 The Balance Sheet
2:09 The importance of the Balance Sheet
3:32 The Balance Sheet sections
3:43 Assets
6:56 Liabilities
10:41 Equity
12:09 What a Healthy Business looks like
12:22 An unhealthy business’ Balance Sheet
12:53 Resources to help you
Find out more about how I can help you with your author business with Author Business Coaching
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Additional show notes and transcripts are on my website: IndieAuthorBizGuide.com/podcast
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Learn more about, and purchase the book: Business and Accounting for Authors
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Music, Inspiring Sunny Day, used on the show is licensed from Nazar Rybak via MelodyLoops.com
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