For finance amateurs, even the thought of talking data or crunching numbers can be daunting.

We totally get it. 

But financial fluency can be the difference between professional success and failure. 

Not only that, but understanding financial fundamentals can save you time, money, and legal trouble in the future. 

And who doesn’t want that ;)

So let’s go back to the basics.

Here’s some important terminology: 

• Costs of goods sold (COGS): How much it costs you to deliver/produce what you offer.
• Inventory: This includes all of the raw material you have in storage, items currently in production, and finished goods that are ready to be sold.
• Assets: These are your business’s physical and non-physical properties, which add to the overall value of your business.
• Liabilities: This is the money that your business owes.
• Equity: The value of your business after subtracting your liabilities from your assets.
• Revenue: A fun one — the amount of money your business brings in from sales!

Knowing this terminology will ensure that you’re savvy about your own finances.

And your accountant will surely appreciate it ;)

Now that you know the financial fundamentals, we’d be more than happy to help you crunch those numbers — just reply to this email or give us a call for more information :)