Teaching Financials to Drive Performance: Part 2 The Profit and Loss Statement

In our last post, we discussed that of the 4 critical items, (Profitability, Asset Quality, Liquidity and Leverage) 3 of them are from the Balance Sheet. The 4th, Profitability is on the Profit and Loss Statement, sometimes called the P&L or the Income Statement.

3 Ways to Manage Sales and Growth for Long Term Success

Have you ever had the experience where sales and growth were either happening way too fast or not fast enough?  The success of both requires management on the part of the owner and his or her management team.  The size of the business will determine what the division of labor is for these management tasks….

5 Things to Know About Cash Basis vs Accrual Basis Financials

When you first start your business and begin recording business transactions, you must decide whether to use cash basis or accrual basis accounting.  The big difference is in how you record your cash transactions.  Many people use cash basis accounting for taxes and accrual basis for managing the business.  Here are 5 things you must…

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