Eisenhower Matrix

Eisenhower Matrix

The Eisenhower Matrix Written By Geoff BurnsDwight D. "Ike" Eisenhower was a five star Army General during World War II and the 34th President of the United States of America. He is responsible for implementing the Interstate Highway System that is in use today. However, many do not know that he developed a simple matrix to analyze tasks and to...
Statement of Cash Flows

Statement of Cash Flows

Statement of Cash Flows Written By Geoff BurnsWhat is a Statement of Cash Flows? For bookkeepers, accountants, and other financial professionals, it is one of the three, core reports used to help paint the business' financial picture. To many business owners and entrepreneurs, it is still a core report, but the information is often misunderstood. In this article I intend...
The Balance Sheet

The Balance Sheet

The Balance Sheet Written By Geoff BurnsWho doesn't like a good ALE? Ok, bad joke. For accounting professionals, ALE is the accounting equation which is A=L+E, or Assets = Liabilities + Equity. But what does that mean, and why is it so important? While most business owners have heard of the ALE accounting equation, few truly understand how to set...
The Income Statement

The Income Statement

The Income Statement Written By Geoff Burns In my previous article, I briefly reviewed the basics of the most common financial reports. If you missed it, you can read it here. Today I am going to dive deeper into the Income Statement. Often referred to as the "Profit and Loss," the Income Statement is a list of all revenues and...
Understanding Your Reports

Understanding Your Reports

Understanding Your Financial Reports Written By Geoff BurnsWhether you are a small business owner, entrepreneur, or nonprofit leader, you need to use financial reports to evaluate your fiscal position. Unfortunately, even for seasoned leaders, most people don't fully understand how their reports are generated, how to tell if they are accurate, what they mean, and what knowledge can be gained...