General Accepted Accounting Principles (GAAP)

Let your financial statements guide you to optimal business decisions

Now that 2022 is up and running, business owners can expect to face a few challenges and tough choices as the year rolls along. No matter how busy things get, don’t forget about an easily accessible and highly informative resource that’s probably just a few clicks away: your financial statements. Assuming you follow U.S. Generally […]

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Don’t assume your profitable company has strong cash flow

Cash Method of Accounting, General Accepted Accounting Principles (GAAP), Small Business / Douglas Freeman

Most of us are taught from a young age never to assume anything. Why? Well, because when you assume, you make an … you probably know how the rest of the expression goes. A dangerous assumption that many business owners make is that, if their companies are profitable, their cash flow must also be strong.

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