The Fiscal Fitness System

Understanding Balance Sheets, Income Statements, and Cash Flow

By: Made for Success, Gary Patterson

Narrated by: Gary Patterson CPA

Fiscal fitness starts with awareness…and the first step is understanding that accounting is the language of business. You can reduce your risks in this turbulent economy by understanding the critical fundamentals that are the foundation of your decision making. Whether you are a first-time small-business owner, more seasoned, or even an aspiring middle manager, you can learn in an entertaining way how to start understanding financial statements enough to run your business better: you start with a brief fiscal quiz of 20 targeted questions to uncover the blind spots to correct over time; follow that with a series of audio trackss that include enjoyable 30-minute segments on basic definitions and risk areas to be aware of for each of the three major financial statement tools—the balance sheet, income statement, and cash flow statement; finish with a segment revealing five key QuickBooks reports to better appreciate their value and what they can really tell you. For those of you using other accounting packages, don’t worry. These same reports exist in other accounting packages ranging from basic to enterprise level.

The numbers will not scare you when you learn to: move through the barriers that hold you back from meeting your personal and business goals; become aware of how this knowledge can create new choices and options; anticipate, understand, and work through the obstacles on your way to the next level of your business success.

Also included with this brilliant program are PDF copies of a series of PowerPoints, business forms, and tools from the Fiscal Doctor’s tool bag, as well as the link for a copy of the eBook Five Areas Where Risks Can Lurk.

Download the accompanying reference guide.©2011 The Fiscal Doctor (P)2011 Made for Success, Inc.

fiscal fitness

overall good topic and good performance of the book. it reminds me of a podcast that has been stitched together to make a book

To the point!

Very good outline of a business program that points to accounting cash flow balance sheet and business plan.

How to use this book to manage your wallet or 👛

I am just a musician, but I find it useful to learn the strategies to managing finances.

After reading this book, I feel inspired to look up templates thag turn my cash flow from something ambiguous into something tangible so I can forcast my spending decisions and side investments for the future.

I hope that after reading this book, I will be more aware of my current financial health, and that this increased awareness will influence my decision to dump my hard earned cash at the local strip club; I know it sounds crazy, but I think having a vision about how you want to use your finances with the help of a balance sheet will dictacte how you will spend it, that is, as long as you are looking to multiply and grow your finances.

As a looser in the stock market and a big spender in counterproductive services (to say the least), I have made it a habit of not monitering my funds. This habit makes me spend more and not feel the pain of destroying my finances. Through the lessons from this book, It is interesting seeing how big businesses fail to moniter their finances, and consequently end up missing payroll, which is the bottom lone for a business to function. So it is good to see that I am not the only one with money mismanagement problems.

I look forwars to using balance sheet concept, which is traditionally intended for business, to manage my peraonal finances.

I guess the big question is this: are you, yourself, just a person with money to spend, or are you a business entity with money to manage and grow over time. Ask yourself, what are your overhead costs? what is your personal annual P & L? What are your current retail cash equivalents and collateral on hand? What are your assets and liabilities? What strategies do you have on hand that will grow your profit and decrees loss? Is it time for a personal 6th sigma overhaul?

These are questions that a typical business would ask, but the question for you is: do you think these concepts can apply to your personal financial health? - Come up with three ways you can apply the balance sheet concept to your personal finances.