How to Read Your Financials Many smaller and mid-market companies in the construction industry find that critical information is misunderstood or ignored because their reports and schedules are inaccurate, often because the reports are used primarily as a tool for the accountant to prepare a tax return or to fulfill a bank-reporting obligation, so they do not contain enough information for you to control your business. But your reports and schedules, when organized, will inevitably help your profits. They represent the “financial control” of your business. It is imperative to understand how to read your financials. A Balance Sheet In