Chapter 19
Ten Tips for Managers
IN THIS CHAPTER
Getting a grip on profit analytics and cash flow
Taking charge of your business’s accounting policies
Using sensible forecasting techniques
Getting the accounting information you need
Being a pro as you talk about your financial statements
Financially speaking, business managers have four essential jobs:
- Securing adequate capital from debt and equity sources
- Earning adequate profit on that capital
- Expediting cash flow from that profit
- Controlling the solvency of the business
How can accounting help make you become a better business manager? That’s the bottom-line question, and the bottom line is the best place to start. Accounting provides the financial information you need for making good profit decisions — and it stops you from plunging ahead with gut-level decisions that feel right but don’t hold water after due-diligence analysis. Accounting also provides the cash flow and financial condition information you need. But in order ...
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