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Category Archives: Financial Statements
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
Dealing with Obsolete Inventory
For manufacturers, retailers, or wholesale distributors, inventory is likely the largest item on their balance sheet. A particular problem that
Data Drives Decision-Making
Every business owner looks for the information that they need to make the right decisions. Sometimes the information is not
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
Finance vs. Accounting
The terms “finance” and “accounting” are often used interchangeably. There are, however, very real differences between finance and accounting. While
Do You Decide to Plan or Plan to Fail?
It’s not a new concept, but it is a lesson that we are reminded of constantly. Those not wanting to
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