02The Firm Foundations
The most important role for financial management in an architecture practice is the prediction of what lies ahead and an ability to communicate that prediction to the management of the practice so that they can respond accordingly. However, it is impossible to make meaningful forecasts if you don’t have accurate historical information available as a starting point. The accounting process needs to show where you are now, and you need to have confidence in what you are being told, because you will construct a complex model of the future and make major decisions based on these foundations.
Basic Book-Keeping
Underpinning the whole financial process is the book-keeping system.
It does not matter if you are a sole practitioner ...
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