Do You Know What You Own and Owe in Your Author Business?

Episode 14This is the fourth, and last, episode in our Financial Basics for Authors series. In this episode, I talk about knowing what your business owns, what it owes to others, and your owner equity. This information is shown on your balance sheet.Download a sample financial statement (both the Income Statement and Balance Sheet) to look at while I walk you through them. https://indieauthorbizguide.com/resources/0:00 This week’s episode0:33 Welcome to the Podcast1:36 The Balance Sheet 2:09 The importance of the Balance Sheet3:32 The Balance Sheet sections3:43 Assets6:56 Liabilities10:41 Equity12:09 What a Healthy Business looks like12:22 An unhealthy business’ Balance Sheet12:53 Resources to help youFind out more about how I can help you with your author business with Author Business CoachingSupport the showAdditional show notes and transcripts are on my website: IndieAuthorBizGuide.com/podcastLearn more about Micro Coaching To get more in-depth assistance with your author business, my Author Business Coaching may be for you.Get your free Indie Business ChecklistCheck out my fantasy booksLearn more about, and purchase the book: Business and Accounting for Authors Support the show, buy me a coffee!Connect with me!LinkedIn: tora-moon-author-bizguide Facebook: indieauthorbizguide Instagram: @toramoonindiebiz Music, Inspiring Sunny Day, used on the show is licensed from Nazar Rybak via MelodyLoops.com