Category: Cash Flow Management
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How to Keep Cash Flowing
1) The indirect method of cash reporting The indirect method of reporting cash flow is what you’ll see most often. It’s the standard format across QuickBooks, other financial software, and for publicly-traded companies. How it works There are 3 sections of cash flow With all the components laid out, it’s easy to see why profit is so…
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The Monthly Financial Review (MFR)
Ask 10 different finance pros what their monthly review process looks like and you’ll likely get 9-10 different responses. So what is it? Monthly Financial Review (MFR) — Checklist of financial data and review procedures conducted every month (or 30 days) after your books are closed and financial statements prepared. After the month ends and your financials are…
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Weekly, Monthly, Yearly? Which Financial Period is Right?
There are probably 30-40 skills required to be a finance/accounting pro, but to manage a successful business you really only need to master maybe 10 or so… today we’ll cover one of those 10 skills… I call this zooming in and out on your business. It will help you see the bigger picture (zoom out) and…