Financial Statements (Financial Management for Music Retail)
Gain a firm understanding of financial statements. The most important single document in the financial management of a music business is the financial statement—generally comprised of a balance sheet and an income statement or P&L (profit and loss). A financial statement will reveal the health of your music store. It’s critically important to understand how to read a financial statement because you need to act on the information. Take the time to learn how to better run your business through your financial statements.