No matter what the business is, it is imperative that income statement analysis is performed by a company's accounting department. This will give the true measure of how and where a company is earning their money as well as where they are spending it.
If you own a small business, take the time to understand how to read a business income statement so that you can strategize, plan and grow your business based on the numbers. Here are several places, along with links, which provide further information on where you might educate yourself on reading business income statements.
1. Enroll in a collegiate level course that covers income statement analysis.
2. Take a seminar that specializes in learning how to read a business financial statement.
3. Go through a tutorial for financial statement analysis software as a way to educate yourself on business income statements.
Take a collegiate level course that covers financial statement analysisAny college accounting program is going to offer courses that cover how to read a business income statement and how to analyze other commonly used documents. Take a college course in the school of accounting. Even if you are not majoring in accounting, a beginning course will help educate you on how to read a small business income statement so that you can apply the knowledge to your own business.
Montclair State University for further information on the "Fundamentals of Accounting" course they offer toward an undergraduate accounting degree. Reading business income statements are covered in that course. The Culver School at the University of Alabama also offers an accounting course, which covers reading a business income statement. It is found in the "Financial Reporting and Analysis of Business Activities" course.
Locate and enroll in a seminar that covers financial statement analysisThere are many seminars offered in the area of accounting that are geared for business owners and other industry professionals who do not have an accounting degree. Take these seminar classes as a way to learn about the basics of accounting so that they may be applied to your business.
Skill Path for more information on the accounting seminars offered by the company, inclusive of seminars which cover reading business income statements. Score also offers seminars for on accounting for "non-accountants."
Take a software tutorial as part of your business income statements education and trainingFinancial statement software is the backbone to any accounting department. It keeps track of everything from gross sales, to expenditures, to receivables and of course calculates all of that data to provide the user with a business income statement. Take the tutorial of your selected business financial statement software so that it can be seamlessly integrated into your accounting department.
Home Biz Accounting. A manufacturer of accounting software, the company also offers a tutorial on how to use the software and incorporate it into your small business. Free Accounting Software is another quality resource, which offers tutorials on the free software provided on the company website.