15 Fundamentals for Effective Accounting Results |
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1.
Communicate, Communicate, Communicate2. Establish a
detail line item budget and
business plan annually.
3. Project and
reforecast.
4. Analyze
expected vs. actual results.
5. Consistently examine balance sheet
ratios and
cash flow.
6.
Annually review fixed assets for write-offs
7. Set target dates for monthly P&L's; if P&L’s are late find out why and correct the problem.
8. Continually ask questions of your CPA...remember,
there's no such thing as a stupid question.
9. Make time to
tax plan10. Get involved and
stay involved in accounting matters
11. Make time to
meet your CPA at least monthly.12. Review your list of outstanding checks and deposits in transit no less than monthly.
13. Develop an
incentive program for your managers, your crew and yourself.
14. Compare you vs. you
15. Review both
year-to-date and trailing twelve information on a
periodic basis.