Interpreting Financial Statements

OK, we all know that we have to have those financial statements to present to lenders or as part of the business plan. But for those of us without a background in finance, we often use them as nothing more than an item on those checklists.

Fortunately, you don't have to have an MBA to turn those financial statements from a jumble of numbers into a useful management tool -- something with a little more depth than whether or not you're going to have money for next month's bills. Here's a three-part series on how to interpret your basic financial statements and use them as a valuable planning tool:

1. The Balance Sheet
2. The Income Statement
3. The Cash Flow Statement