You received your Financial Statements and tax return and told to “sign here”. But that’s not where the relationship with your CPA should end. That should only be the BEGINNING
Check out these procedures to help you use your business to Create Wealth from your business
- Your Balance Sheet – What’s your current ratio? Are your Assets working for you? Can you reduce those high interest liabilities by refinancing them into lower interest longer terms?
- Your Income Statement – this is the easy one. Right? Are we profitable? But the REAL QUESTIONS should be. How’s our growth? With the growth of income, what will our expenses look like? Are our labor costs in check? Is there a process to review our costs quarterly or more often to make sure we’re keeping up with inflation and other outside factors?
- Your Cash Flow Statement – What’s that? This statement is a measurement of Cash inflows, cash outflows and the net of the two at various points in time. If read and reviewed properly, this statement can tell you whether you can make that next capital investment, will we have the cash flow to cover costs while waiting for receivables, can we fund our growth, can we monitor those outflows better?
And this is just the beginning. Visit our 4-Step Wealth Creation Program or call us for a free 30 minute consultation to discuss how we may help your business not just give you a paycheck, but Create Personal Wealth.
