As we get closer to planning for the next year, a lot of business owners are thinking about budgets. That is a good thing! But here is an important distinction that often gets missed: A budget and a forecast are not the same thing. Most businesses create a budget once a year based on certain assumptions and inputs: Overall business goals Expected revenue Planned expenses “Best guess” scenarios That budget sets the direction and answers the question: “Where are we trying to go?” Very often,...

Learn how to use your income statement to drive your business forward.

A helpful webinar introducing some basics on financial statements, and how to use your financial statements for decision making.