Accountability is not a Luxury, it’s a Crucial Responsibility
Understand Your Numbers
How to Use Financial Statements and Ratios
Accounting Structure - Quick Reference
Accounting Journals and Ledgers - Transaction Posting
Very Much Appreciated
This post talks about how to make use of the information in Financial Statements. Those statements are really the results of past operations. It is important to use this information to be proactive and look to the future to predict results and to set goals, expectations and budgets based on the evidence provided from the past.
Time analysis is the most important tool you will use in analyzing your Financial Statements. It is essential in managing and securing resources because it can quickly pinpoint changes that indicate errors or fraud as well as the unexpected changes that might require adjustments to cash planning and/or operations.
Let’s start with Financial Ratios by looking at the Income Statement and its ratios.
Balance Sheet Ratios:
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