Chapter 26: Financial management

This chapter reviews the essentials of financial management for a graphic design firm. When the design business is first established, the basic accounting system should be set up by a CPA, preferably one who has experience working with clients in the design profession. If the firm remains small, it will continue to rely upon an outside accountant or bookkeeping service for the preparation and analysis of financial information. However, if the firm has the opportunity to grow and decides to do so, it’s a good idea to gradually bring more of this financial expertise in-house.

The benefits will be significant — financial information will be more current and complete, providing a better foundation for good decision ...

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