Today, we worked through some basic cash flow statements and balance sheets.

We touched on:
- gross vs. net assets
- measuring wealth
- the use of ( ) for outflows
- inflows (we like more than outflows)
- short-term vs. long-term liabilities
- fixed and variable expenses

We haven't all had an accounting class, so this was a great introduction to some basic accounting principles for us.

Next week, we have an actual accountant joining us, so we wanted to be sure we knew some basics.

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