The Magic Number
As a small business owner, it is important to study our business financial statement package on an ongoing basis: it could be monthly (preferably) or quarterly. The annual audited statements that are provided by the accountant are extremely important, but if we wait for an entire year before analyzing our cash flow, budgetary variance and profit, it might be too late to prevent a ship from floundering.
The financial statement package consists of two important documents: the balance sheet and the income statement. There is one magic number that is the same on both statements. And that is, profit.
Please contact me #TrushaDesai.com for discussion of your financial statements.