Bookkeeping – Page 2 – Ellen Rohr – Business Makeover Expert

Get to KFP! (A Known Financial Position)

If you were driving 80 miles an hour, in the dark, with your lights off, heading towards a cliff, would you like someone to yell, "STOP?" OK. Stop! Do you produce financial reports – the balance sheet and income statement – every week? Do you analyze sales, costs, cash flow, and debt every week? If [...]

Getting to KFP Exercise

You’ll be at a KFP when: You can generate Income Statement and Balance Sheet reports and trust that the information is current and accurate. You can go through the reports line by line, account by account, and understand what each dollar amount represents. You need a good accountant. Most accountants just prepare tax returns. A [...]

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