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The Balance Sheet and Income Statement (Financial Management for Music Retail)
- NAMM U Post
Understand the complete financial picture. How do the balance sheet and income statement relate to each other in the big financial picture?
Income Statement: Expenses (Financial Management for Music Retail)
- NAMM U Post
Get a read on your expenses. The expense side of your income statement is as important as revenues.
Income Statement: Revenues (Financial Management for Music Retail)
- NAMM U Post
Get straight with your revenue streams. An income statement is sometimes called different names, but it’s mostly referred to as a P&L.
Balance Sheet: Liabilities (Financial Management for Music Retail)
- NAMM U Post
Take a close look at your liabilities. Anything that you owe is a liability.
Balance Sheet: Equity (Financial Management for Music Retail)
- NAMM U Post
Know your equity. The simple definition of equity is the assets of your business, minus the liabilities.
Balance Sheet: Assets (Financial Management for Music Retail)
- NAMM U Post
Identify your assets. The balance sheet is a snapshot of your business on a particular day and time.
Succession Planning (Financial Management for Music Retail)
- NAMM U Post
Develop a succession plan. Every music store owner should think about transitioning their store.
Disaster Planning (Financial Management for Music Retail)
- NAMM U Post
Make the time to plan for business disasters. It’s imperative to have a business-continuity plan in case a disaster strikes.
Worker Status (Financial Management for Music Retail)
- NAMM U Post
Be mindful of worker classification. If you have a lessons program and dictate a teacher’s dress, hours and curriculum, you must treat that music teacher
Rentals (Financial Management for Music Retail)
- NAMM U Post
Explore music instrument rental programs.
Financial Statements Overview (Financial Management for Music Retail)
- NAMM U Post
Master the nuances of financial statements. Learn or review the definitions and details of a balance sheet and a P&L and how they work together.
Financial Statements (Financial Management for Music Retail)
- NAMM U Post
Gain a firm understanding of financial statements.
Fraud (Financial Management for Music Retail)
- NAMM U Post
Minimize theft and fraud. Did you know fraud is a billion-dollar problem in retail? Hear about the hard, cold facts about music retail theft and fraud.
Financing (Financial Management for Music Retail)
- NAMM U Post
Capitalize your business. Music retail requires a substantial amount of capital to become profitable.
Budgeting (Financial Management for Music Retail)
- NAMM U Post
Build a budget and plan for profit. You wouldn’t build a home without a blueprint, so why run a business without a budget?
Music Store Revenue (Financial Management for Music Retail)
- NAMM U Post
Master the art of revenue reporting. Music retail is unique because it can generate other material revenue sources from rental, repair and lesson incomes
Alan's Rule of Thumb (Financial Management for Music Retail)
- NAMM U Post
Tap into the power of buying with this fail-safe formula. Should you buy an item, and how many should you buy?
GMROI (Financial Management for Music Retail)
- NAMM U Post
Perfect your Gross Margin Return on Investment (GMROI). This is one of the most valuable analytical tools you can use to measure the amount of profit dol
Gross Profit (Financial Management for Music Retail)
- NAMM U Post
Build a foundation with gross profit. There are several terms for gross profit.
How Much Inventory to Stock (Financial Management for Music Retail)
- NAMM U Post
How to stock inventory by design. Want to know how much inventory to stock? The answer is tied to your inventory turns.
Inventory Turns (Financial Management for Music Retail)
- NAMM U Post
Calculate your inventory turns. How much inventory should you carry during the year?
Inventory Turns (Financial Management for Music Retail)
- NAMM U Post
How Much to Buy (Financial Management for Music Retail)
- NAMM U Post
Learn the basics of purchasing inventory. Explore your buying process and the key aspects of how much to buy.
Too Much Inventory (Financial Management for Music Retail)
- NAMM U Post
Polish your inventory management skills.
Denise Gallant
- Oral History
Denise Gallant designed a video-audio synthesizer that was years ahead of its time.
Profitability Versus Cash Flow (Financial Management for Music Retail)
- NAMM U Post
A guide to profitability and cash flow. Do you understand your cash flow problems and why they exist?
Why Financial Management (Financial Management for Music Retail)
- NAMM U Post
Take your financial success to the next level. You understand the importance of managing inventory, expenses and cash flow as a music retailer.
Introduction (Financial Management for Music Retail)
- NAMM U Post
A practical guide to financial management for music retail. In this series, you’ll discover the techniques and tools to readily adapt to different financ
Kevin Monahan
- Oral History
Kevin Monahan began working at E-MU in 1980, at a very exciting time for synthesizer development.
SBA’s Economic Injury Disaster Loan Program
- Article
https://ww1.namm.org/covid-19%20updates/articles/sba%E2%80%99s-economic-injury-disaster-loan-program
The Small Business Administration’s (SBA) disaster loan product that’s being used to provide financial aid during COVID-19 situation is the