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How to Calculate Your Profitability: A Case Study

CFO Simplified

This CFO Simplified client watched profitability slowly disappear—until they incurred a $125,000 loss. Manufacturing variances were caused by a variety of factors, but the summary general ledger (GL) postings didn’t provide an answer. . This information was available from their enterprise resource planning (ERP) system.

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How do I clean up my financial statements?

CFO Share

Too many general ledger (GL) accounts. Unsophisticated GL structures. Small business owners benefit from a sophisticated GL structure customized to their business plan. If you plan to oversee a financial statement clean up project, here are the steps you should perform. Develop a plan.