Remove Accounts Payable Remove General Ledger Remove Profit and Loss
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1047: Balancing Risk and Opportunity in a Changing Finance Landscape | John Gronen, CFO, Yooz

CFO Thought Leader

The company operated two businesses: one generating about $30 million in EBITDA, while the other incurred annual losses of roughly $10 million. Gronen proposed a strategy to merge the two operations, consolidating efforts to increase profitability. Gronen: Yooz is an AP (accounts payable) automation and payments company.

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Dealing with Obsolete Inventory

CFO Simplified

The bank reported a loss of confidence in management as a result of the inconsistent financial reporting. Reconcile the general ledger balances from the start of the year. This may be after the fact, but the shipping paperwork and accounts payable detail should match. Inventory is a tool to achieve profitability.