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Category Archives: Financial Statements

Jun 23 2022

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

Apr 15 2022

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

Apr 15 2022

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

Apr 15 2022

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

Apr 15 2022

Family Business Case Study

A family business can be a great source of pride for everyone involved. However, working with loved ones can present

Apr 15 2022

Dealing with Obsolete Inventory

For manufacturers, retailers, or wholesale distributors, inventory is likely the largest item on their balance sheet. A particular problem that

Apr 15 2022

Data Drives Decision-Making

Every business owner looks for the information that they need to make the right decisions. Sometimes the information is not

Jan 10 2022

Tea Leaves and Financial Statements – Something in Common?

Financial reports contain the most important reading that a business owner looks at on a regular basis. And yet, for

Dec 12 2021

Finance vs. Accounting

The terms “finance” and “accounting” are often used interchangeably. There are, however, very real differences between finance and accounting. While

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