Make sure your business leverages the most valuable financial reporting tactics available.
Just about every business has goals, whether they’re informal targets or the product of a more formal plan. But just as important as setting the right goals is monitoring your organization’s progress, including a comparison of budget vs actual revenue and expenses. Let’s look closer at how to properly conduct these vital reviews and why
Mid-Year Financial Goals Check: Reviewing Budget vs Actual Read More »
How far would you get into a road trip without your speedometer, gas gauge, map, or GPS? Likely not very far. So why are you still running your small business without a financial dashboard? I am not the first person to equate the financial dashboard to the dashboard of a car, but it is a
Financial Dashboards and Scorecards for Small Business Owners Read More »
Serious About Your Small Businesses Finances? You’ve come to the right place, with our CFO Approved Small Business Financial Report Template you get an in-depth review and explanation of all the important financial metrics for your business. Whether you’ve been running a business for a couple years or a couple of decades allow our certified
The CFO’s Approved Small Business Financial Report Template Read More »
Ask anyone who started their career in public accounting, and they probably don’t have a strong impression of QuickBooks. However, ask any business owner, and you get a different answer. Luckily, I have experience with QuickBooks from both the service provider and business owner perspective. This article will help you determine if you should be
QuickBooks Alternatives: 5 Situations Considered Read More »
While sitting with a client recently, we needed to solve a problem – they needed aluminum cans. Production was being constrained by the lack of aluminum cans available for this beverage manufacturer. Their supplier said the constraint resulted from more prominent players, such as Coca Cola and PepsiCo, gobbling up the supply. We wanted to
Small Businesses Lessons from Public Companies Read More »
Part of the problem with financial statements is they do not tell the whole story, metrics wise. Each financial statement tells part of a story. One must put all of the statements together to get a better idea of what the full picture is. However, even then, it is easy to misconstrue what the data
4 Metrics Any Business Owner Should Review Monthly Read More »
From day one, a business owner has been told they need to care about the financial statements. If an owner attended business school, most classes reinforced the idea that financial statements were the holy grail of information. If you listen to any business media coverage, they constantly talk about revenue, earnings, and EBITDA. As an
Financial Reporting Falls Short of Todays Entrepreneur’s Needs Read More »
No matter the size of your business, you are most likely spending money on marketing. In total, companies in the United States spent $2.1 trillion on marketing in 2019. To put that in perspective, that represents about 10% of the total US GDP (healthcare spending ranks just a little higher at 17%). In other words,
You Could Be Losing Big If You Aren’t Tracking Marketing ROI Read More »
I often read articles that point to characteristics that help some be better equipped to own a business than others. I work with enough business owners to know that people with all different types of strengths can succeed. However, no matter the skill set, there are two traits all business owners seek – answers and
An Owner’s Guide to Financial Reporting Read More »
“How can that be my net income?” “I didn’t make that much, check my bank account?” “This income statement makes no sense to me” I have sat with many business owners and heard these lines seem time and again. Their income statements make no sense. It’s no wonder many owners look at what accountants do
Why Your Income Statement Doesn’t Match You Bank Account Read More »
