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

Indie Author Biz Guide Podcast

Episode 14
This 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 episode
0:33 Welcome to the Podcast
1:36 The Balance Sheet
2:09 The importance of the Balance Sheet
3:32 The Balance Sheet sections
3:43 Assets
6:56 Liabilities
10:41 Equity
12:09 What a Healthy Business looks like
12:22 An unhealthy business’ Balance Sheet
12:53 Resources to help you
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Additional show notes and transcripts are on my website: IndieAuthorBizGuide.com/podcast
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Music, Inspiring Sunny Day, used on the show is licensed from Nazar Rybak via MelodyLoops.com