CFO Simplified

APRIL 17, 2022

As Iowa State University reminds us, “profitability is the primary goal of all business ventures.”. Business leadership is often responsible for measuring current, past, and future profitability. But what is profitability? This CFO Simplified client watched profitability slowly disappear—until they incurred a $125,000 loss.

General Ledger (GL) 92

General Ledger (GL) Profit and Loss General Ledger CFO 92

CFO Share

MAY 22, 2024

Small businesses have three key financial reports: the balance sheet the income statement (aka profit and loss statement) the cash flow statement A statement of retained earnings is a fourth report common for large, public corporations, but isn’t as useful for small businesses. You won’t be able to sell your business.

Profit and Loss 52

Profit and Loss General Ledger Accounting Financial Reporting 52

CFO Share

JULY 14, 2022

Do your profits and cash flows make no sense? Too many general ledger (GL) accounts. Too many general ledger accounts. That can lead to “GL diarrhea”: too many ledgers, multi-page P&Ls, and unusable financial statements. Accurate costing is key to a useable profit and loss statement.

General Ledger (GL) 52

General Ledger (GL) General Ledger Profit and Loss Invoicing 52

CFO Simplified

APRIL 15, 2022

There are two major issues here: (1) how do you decide when something becomes obsolete and (2) how do you price it for quick sale? Sales – $10,000,000. Reduce the price of the inventory to minimal levels and promote the sale of the garments through internet channels. Ensure the sales register matches the individual invoices.

Profit and Loss 52

Profit and Loss Manufacturing General Ledger Accounts Payable 52