#21 Money Clarity for Amazon Business Owners – Part 1 of 2

Podcast: Play in new window | Download (Duration: 36:55 — 29.6MB)

Subscribe: Google Podcasts | Spotify | Stitcher | Email | RSS

This Episode, #21 , is the first of 2 that will deal with the area of money basics and accounting. This episode is about basic principles – the next will be much more specific to Amazon businesses.

Understanding and dealing with finances can be both intimidating and boring! Not a great combo! Sadly, this is one area of business you really cannot afford total ignorance of. However, once you gain clarity in the basic principles, it is easier to automate, outsource or even eliminate certain processes or records, meaning you get a more stable, safe business while costing yourself less money, less time and less worry.

SHOW NOTES FOR EPISODE #21 -Money Clarity Part 1 of 2

Basics of accounting:
Books: Phil Stone: Understanding Small Business Accounting (Amazon link)
Penny Lowe: (Penny is my accountant and advisor) Understanding your accounts (Amazon link)
1. Balance sheet
  1. assets
    1. Current assets
      1. cash in hand
      2. bank accounts
      3. INVENTORY!
    2. Fixed assets
  2. liabilities
    1. Equity
    2. Debt
2. P & L
  1. meaning- change in value of equity
  2. includes value of inventory!
3. Cashflow
  1. Cashflow vs. profit
Types of Accounts:
1. annual
2. management
3. projected
Capital requirements
1. Sources of Capital
2. Equity
3. Debt
  1. bank
  2. loan from family etc.

HOW TO SUBSCRIBE TO THIS PODCAST

A podcast is a free downloadable audio show that enables you to learn while you’re on the go. To subscribe to my podcast for free, you’ll need an app to listen to the show from.

For iPhone/iPad/iPod listeners – Grab your phone or device and go to the iTunes store and search “Amazing FBA”.

This will help you to download the free Podcasts App (produced by Apple) and then subscribe to the show from within that app. Every time I produce a new episode, you’ll get it downloaded right on your iDevice.

For Android listeners – Download the Stitcher Radio app (free) and search for “Amazing FBA Podcast.” Or, if you have already downloaded a podcasting client, follow the directions in the next sentence.

For podcast enthusiasts – If you already listen to podcasts and have a podcatcher that you prefer, the feed you’ll need to add is: http:// amazingfba.com/feed/podcast.

For those who don’t have a mobile device – You can always listen to the show by clicking the audio file at the top of this page.

If you have any queries, just go to www.amazingfba.com/ask.

Watch Amazon Private Label Money Basics – Part 1 of 2

[video_page_section type=”youtube” position=”bottom” image=”” btn=”light” heading=”” subheading=”” cta=”” video_width=”1080″ hide_related=”false” hide_logo=”false” hide_controls=”false” hide_title=”false” hide_fullscreen=”false”]https://www.youtube.com/watch?v=ufFlj6g1Nz8&feature=youtu.be[/video_page_section]