Your numbers tell a story — if you know how to read them. This month, we’re showing founders how to turn their P&L statements into strategic narratives that go beyond compliance and bookkeeping. Whether you're pitching investors, steering through uncertainty, or just trying to understand what’s really driving your margins, treating your financials as a…
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For many founders, financials feel like a postscript — something to be dealt with at tax time, pulled together for a pitch deck, or handed off to a bookkeeper. But when used correctly, your profit and loss statement (P&L, also referred to as your Income Statement) is more than a summary of revenue and expenses…
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The sudden introduction of significant tariffs on imports from many of America's trading partners has the potential to create substantial disruption for small businesses. Tariffs can directly impact profitability, supply chains, pricing strategies, and customer relationships. To effectively respond, business owners in industries like consumer packaged goods (CPG), retail, food & beverage, and services must…
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Financial statements for small business owners are essential tools for evaluating your company's financial health, securing funding, and making informed strategic decisions. There are three primary financial statements every small business owner should understand: Balance Sheet Income Statement (also known as Profit & Loss or P&L) Cash Flow Statement Together, these form what's commonly referred…
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In the world of business, having a clear understanding of your financial vitals is just as important as knowing your health vitals. Financial vitals are essential for business owners, providing a real-time snapshot of your company’s financial health, allowing for better decision-making and proactive problem solving, helping you make informed decisions and proactively address issues…
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As a longtime fan of Netflix’s Tidying Up with Marie Kondo, I’ve often marveled at how decluttering a closet can transform a person’s mindset. But what if we applied Kondo’s iconic “6 basic rules of tidying” to our financial lives? For entrepreneurs, periodic financial “tidying” isn’t just about neat spreadsheets — it’s about building a…
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Many Filipinos look forward to a brief pause during their workday for the merienda — a midday snack-and-sip ritual similar to British high tea. Miggy and Victoria Reyes, a brother-and-sister team who grew up in the Philippines, aim to share that tradition through their fast-growing tea brand Narra, named for their country’s national tree. Narra,…
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Understanding the difference between cash-based and accrual-based accounting methods is crucial for businesses to represent their financial position and make informed decisions accurately. Key Differences 1. Inventory Recording Cash-based: Inventory expenses are immediately recorded as Cost of Goods Sold on the income statement. Accrual-based: Inventory purchases are recorded as an Inventory Asset on the balance…
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Inventory and cost of goods sold (COGS) are both related to a company's products/merchandise, but they have different meanings. Inventory refers to the goods and materials that a company has on hand and are available for sale. It is the raw materials, ingredients, product packaging, work-in-progress, and finished goods that a company has in stock…
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In a recent Foodbevy Startup to Scale podcast episode, host Jordan Buckner sat down with our CEO Alice Zhang to discuss a question many founders are asking: Can AI handle your bookkeeping? The conversation offered practical insights into what's possible today and what's coming tomorrow. The Reality of AI in Financial Management Today Alice shares…
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