When looking at company financial statements, most of the items are self-explanatory. Almost everyone can easily explain revenue, expenses, assets, and liabilities. However, some of the line items are not as clear. Someone recently asked me about goodwill on the balance sheet. It is an important line to understand when looking at a balance sheet.[Read more…] about What is Goodwill on a Company Balance Sheet?
Over the last couple of years, I have been very entrepreneurial. I have started three small businesses and the IRS requires that I track the income and expenses for tax reasons. While this may sound daunting, it is actually not difficult if you know where to start.