15 Fundamentals for Effective Accounting Results

1. Communicate, Communicate, Communicate

2. 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 plan

10. 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.

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