03Planning the Financial Health of the Practice
With the accounting foundations in place so that you know where you are and how you got here, you can then have the confidence to turn your attention to the future. Armed with the knowledge of the practice’s past performance you can start to decide what you would like to have happen next.
It is important to have a long-term strategic and financial plan and to allow your thinking to break free occasionally from the tyranny of the accounting year. Although the 12-month financial period is a natural and convenient period of time to use, it can result in an unhealthy focus on the short-term view which is particularly out of step with the long-term nature of construction and architecture.
Developing ...
Get Financial Management now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
