BizSugar.com › Finance › Small Business Accounting 101: How to Keep Financial Records - WSJ.com

Let's take a look at the basic financial statements that every business owner should prepare and review on a regular basis: the profit-and-loss statement, the balance sheet and the cash flow statement. I asked Libby Ladu, founder of Right Brain Ventures and a financial advisor to entrepreneurs, to describe how each of these statements can help you understand your company's overall performance and health.