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[INTERVIEW] Michael Majeed, Finance Executive, SR&ED Tax Consultant

YoungUpstarts

Michael Majeed is quick to note the vast numbers of new startups that launch each year on the Canadian landscape, and he’s keenly interested in helping young business owners make the most of their opportunities, especially when it comes to their finances. Financial intelligence is important to anyone starting a company.

Finance 193
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A Brief Look At Understanding Income Statements And Balance Sheets

YoungUpstarts

The two key documents are the income statement and balance sheet, though there are more that come into play like the cash flow reports. So why are these documents important, and what is the difference between the income statement and balance sheet? Why You Need Income Statements And Balance Sheets.

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Tax and accounting treatment for website development costs

The Startup Magazine

Or does it go on the balance sheet and count as an asset? If Adam had put his website on his balance sheet by mistake, he’d have been taxed on all his £100,000 profits. If you’re unsure of what a balance sheet is – it’s a statement of the assets, liabilities and capital of a business. But which part?

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The Bare Minimum You Need To Know About Accounting

YoungUpstarts

Though personal income taxes will usually not be due until the middle of April, organizing your finances at the end of each year is an absolute necessity. No matter what your overall accounting philosophy might be, the importance of balance cannot be overstated. Balance Sheets versus Income Statements.

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Understanding Finance for A Stronger Business Foundation

The Startup Magazine

The primary goal of any corporate firm is to benefit from the business’s finances while operating at its maximum capacity. Entrepreneurs often feel like spending too much time sorting out the finances can lead to a halt in developing innovative ideas for the growth of the business. Statement of Financial Position.

Finance 157
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Praying to the God of Valuation

Both Sides of the Table

Almost no financings, many VCs and tech startups cratered for the second time in less than a decade following the dot com bursting. Within 5 years I was on the board of real businesses with meaningful revenue, strong balance sheets, no debt and on the path to a few interesting exits.

Valuation 466
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Cash Flow

Up and Running

Broadly speaking, businesses bring in money through sales, financing, and returns on investments—that’s cash flowing in. The other two, an income statement (also known as a profit and loss statement ) and a balance sheet , complement the cash flow statement and help you see a full picture of your business’s finances. .