Shareholders pay attention: Douglas Battista, a California-based business management expert, answers a few common questions regarding balance sheets and why you should learn to read them.
Q: What is a balance sheet?
Douglas Battista: A balance sheet is a statement that outlines a company’s financial position. It consists of the company’s assets and liabilities. The balance sheet is one of many important pieces of information needed to assess the value of a company.
Q: How are “current assets” defined?
Douglas Battista: The term “current assets” refers to those resources which can be converted to cash with little delay. This could be bank accounts or accounts receivable – money owed to the company by clients. A company’s inventory is also considered a current asset. Continue reading
Funding a new business may sound like a daunting task, says Douglas Battista. It’s not as difficult as many think, however, and there are options that make financing a small business accessible even to entrepreneurs with little to no credit.
According to Douglas Battista, debt financing is the most common way that small business owners find the capital to market a product or service. Debt financing is when a borrower puts up collateral and obtains a loan from a lending institution, such as a bank or finance company that specializes in commercial lending.
Debt financing has several advantages, points out Douglas Battista. Business owners have the freedom to retain 100% control over the business. They are not beholden to stockholders or investors. Additionally, debt financing can help a new business owner establish credit to further the business later on. Interest on these types of loans is nearly always tax-deductible, which may help quell reservations on the part of the borrower. Continue reading
Workplace distractions aren’t a new problem, though the invention of the Internet has likely costs employers billions in lost productivity. Here, Douglas Battista shares a few pieces of wisdom on ways to stay focused while on the clock.
Q: Is there any specific group of employee more likely to fall by the wayside during working hours?
Douglas Battista: Studies have found that those who’ve grown up witnessing the boom of the Internet might have the shortest attention spans. That’s easy to understand since Gen Y’ers have more distractions than their parents. Things like text messaging, cell phones, instant messaging, and emails weren’t a major problem as recent as 20 years ago.
Doug Battista believes strongly in the power of hard work. Growing up with a father who worked hard to provide for his family, Doug Battista learned early that nobody would hand success to him. It would have to be earned, Doug Battista discovered, and he began his post-secondary education with that in mind.
After graduation from New York’s Niagara University, Doug Battista began looking for work in his chosen area of vocation – travel and hospitality. Doug Battista was offered the position of Director of Food Services for a large insurance company in Hartford, Connecticut. ARAMARK, according to Doug Battista, the leading provider of food to correctional institutions, schools, businesses, and stadiums and arenas in the world, had the contract in this location.