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Accounting Terms Every Construction Business Owner MUST Discuss with Their Accountant Are you a construction business owner struggling to make sense of accounting jargon? Perhaps you feel that your accountant is speaking a different language and not providing the clarity you need to understand your finances fully. In this video, I will break down common accounting terms and concepts, so you can gain a better understanding of what they mean for your construction business. Let me help simplify the complex world of accounting and empower you to make informed financial decisions. MDH Accountants are an award-winning firm based in Accountants Surrey and Accountants London. Our Director Michael Hemme is known as the Wealth Whisperer! If you like this video, don't forget to Subscribe to our channel! Watch our Business Dashboards video here ↓↓↓ • Business Dashboards–Why Every Small Busine... Time Stamps: 00:00 - Accounting Terms You SHOULD Discuss With Your Accountant 00:25 - Defining “Assets” in a Construction Business 01:59 - Identifying “Liabilities” in a Construction Business 02:15 - What are current liabilities? 02:53 - What are long-term liabilities? 03:44 - What is a balance sheet? 04:27 - Definition of the income statement 05:41 - What does ‘depreciation’ mean? 06:59 - Put a plan in place for assets replacement ________________________________________________________ Contact Us & Book a Meeting Calendly: https://www.mdh.me.uk/book-call/ Business Growth Book https://www.mdh.me.uk/get-your-copy-o... Tax Saving: 74 Ways To Pay Less Tax https://www.mdh.me.uk/74-ways-to-pay-... Funding: A Free Guide for Business Owners in The UK: https://www.mdh.me.uk/funding-guide-u... ___________________________________________________________ Say Hi on Social Media: Facebook: / accountantslondon Linkedin - Michael: / michaelhemme LinkedIn - MDH: / mdh-business-advisers-limited Instagram: / mdhaccountants TikTok: / mdh_accountants #BusinessFinanceHacks #TimeAndMoneyManagement #OptimizingBusinessOperations #CIS #construction #ConstructionIndustryScheme #EssentialAccountingTerms #ConstructionBusinessOwner Content ID Code LJH9ZWD3QIXEKYL1 • Accounting Terms Every Construction Busine...