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Category Archives: Financial Statements
What to Know About the Corporate Transparency Act
Effective January 1, 2024, the Corporate Transparency Act (CTA) requires approximately 32 million existing corporations, limited liability companies, and other
How Serious Are You About Your Company’s Financial Success?
Most business owners get financial reports monthly: Profit and Loss, Balance Sheet, Statement of Cash Flows. Some look at them
Removing Confusion From Your Financials
Often, I’m told by a business owner that they don’t understand why their financial statements show strong profitability for two
How to Choose the Right Banking Relationship
By this time, you are well on the road to executing your strategic plan for this year. Odds are you
CFO vs Controller – What’s the Difference?
Some small business owners have CFOs working for them. The owner is likely proud that they have prepared their company
Ill-Defined Statement of Work
Any business doing custom work needs to carefully define the terms and expectations of the delivered product. Having open-ended, or
Identifying the Real Cost of Production
Knowing the actual cost of production is critical to setting accurate pricing and therefore profitability for any manufacturing company. How
Financial Reporting Drives Good Decisions
Problem The company used Cash Basis accounting for their operating statements because taxes were calculated on a Cash Basis. When
Family Business Case Study
A family business can be a great source of pride for everyone involved. However, working with loved ones can present
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