In this episode, host Anj interviews Steven Newland, a finance expert who breaks down the three key financial statements that every business should understand: the profit and loss statement, balance sheet, and cash flow statement. They also explain the difference between cash and accrual basis accounting. Steven shares insights into the importance of understanding finances, both in personal and business contexts, and offers tips for communicating financial concepts to non-finance people. The episode concludes with a discussion on bankruptcy and what happens when someone can't pay their debts. If you've ever been confused by financial statements, this episode is a must-listen. Learn how to evaluate your own finances and make better financial decisions, whether you're running a business or managing your personal finances. You can connect with Stephen on LinkedIn at https://www.linkedin.com/in/stephenmnewland/