About this episode

This episode breaks down confusing accounting terms for business owners, starting with the basics.

Your accountant just asked, “Have you looked at your P&L lately?” And you’re sitting there wondering if that’s the same thing as your profit & loss statement. Or your income statement. Or… are those different things? So, we asked our accounting team to list every word they use that clients probably don't understand. They sent back 30+ terms. This episode is Part 1 of us breaking down that list. Starting with the basics: Net income Gross profit margin What a P&L actually is Why EBITDA has five letters And how tax brackets really work Subscribe for Part 2 where we’ll keep going down the list of terms that confuse the heck out of business owners. Don’t want to keep Googling accounting terms? Download our free glossary of confusing accounting terms: ⁠https://hubs.la/Q03-_tRN0⁠

Topics covered

• accounting terms
• profit and loss
• financial statements
• business finance
• EBITDA
• tax brackets

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