In this video, we explain how to read and understand financial statements for small businesses. Learn more about how to read and understand financial statements here: https://bit.ly/2PCVpHx. There are three main types of financial statements: The balance sheet, the income statement, and the cash flow statement. When you know how to read your financial statements, you can find ways to make more profit, expand your business, or catch problems before they grow. *** Check Out These Other Videos You Might Like: Bookkeeping Basics for Small Business Owners: https://youtu.be/W-ajzzE_upM How to Read a Balance Sheet (and Make Your Own): https://youtu.be/Yv1W683IaVc Accounting Basics For Small Business Owners: https://youtu.be/pqkdCM47hpg FREE Helpful Resources: Financial Statements 101: https://bit.ly/31Iyeyx Balance Sheet Template: https://bit.ly/39jevJI Income Statement Template: https://bit.ly/3ftOLyb Cash Flow Statement Template: https://bit.ly/3wcwyuU Let us know your thoughts about how to read and understand financial statements in the comments below, and don’t forget to subscribe to our channel for more content about financial statements! *** Timestamps: 0:00 - Intro 0:52 - Balance Sheet 3:48 - Income Statement 7:13 - Cash Flow Statement *** Join Our Growing Community Of Small Business Owners: Facebook: https://www.facebook.com/BenchAccounting/ Instagram: https://www.instagram.com/benchaccounting/ Twitter: https://twitter.com/bench LinkedIn: https://www.linkedin.com/company/benchaccounting/ *** How Bench Can Help: Try us for free - we’ll do one month of your bookkeeping and prepare a set of financial statements for you to keep: https://bit.ly/2Wt6MoY With Bench, you get a bookkeeping team to complete your monthly books and help you make decisions to support the best interests of your business. We’ve helped thousands of small business owners take back more time to focus on doing what they love! With Bench on your team, you’ll have properly completed books to help you: 1. Get real-time insights into the financial health of your business 2. Manage your expenses with detailed expense tracking 3. Use bookkeeping records for loan applications and loan forgiveness 4. File your taxes at tax time with our annual financial package, and make the most of your tax deductions Plus, if you ever have questions, your dedicated team of experts are just a quick message away in the Bench app. *** About Bench: We're an online bookkeeping and tax prep service powered by real humans. With Bench, you get a dedicated team of experts to track every detail for you. Your bookkeeping team imports bank statements, categorizes transactions, and prepares financial statements every month. Come tax season, we handle the tax prep and filing, and even offer year-round tax advisory support. #FinancialStatements #Accounting #Financial