Next week you get to analyse the numbers in your business, initially using ratios, which give you performance indicators at a glance. Profitability ratios and liquidity ratios are a great start but for greater insight you will learn to apply benchmarks and conduct breakeven analysis.
As we come to the end of Week 3, take a few minutes to reflect on the financial statements and how you can apply them to assist you in the running of your business.
What statements did you find most helpful to monitor the viability of your own online business?
Post your thoughts and any questions relating to Week 3 in the Comments area below.
© RMIT University 2016