🤔 What is your business truly worth? We dive into Business Assets, explaining exactly what your small business truly owns—from cash to computers—and why accurately tracking these items is the first step toward financial clarity and accurate reporting.

👋🏽 Welcome back, family! Today, we’re tackling a foundational term in finance: Business Assets.

It’s easy to think of a business asset only as a giant piece of equipment. But in reality, your assets are everything of value your business owns—and tracking them accurately is crucial for understanding your financial health. If you skip this step, you’ll never get a true picture of your business's worth.

This episode is about simplicity. We’ll use a relatable scenario to show you the difference between what your business owns and what it owes, and how tracking Balance Sheet Assets gives you powerful financial clarity.

In this episode, we’re covering:

• The Ownership Test: The simple question to ask yourself to determine if something is a business asset.
• Two Key Types: The difference between Current Assets (cash) and Non-Current Assets (equipment).
• The Bookkeeping Win: Why tracking assets correctly is essential for the Balance Sheet and depreciation (and why you can't guess!).

Ready to understand what your small business truly owns? Let's dive in!

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