Moe and Dawn discuss the financial dashboard and how each measurement reflects the overall health of your business.
The Three Financial Statements that Determine the Health of Your Business
Earlier this month, a good friend was disappointed to share with me the agony of having to terminate the Comptroller of his 14-year New York based consulting firm due to misappropriation of funds. As is typical, it was during an evening of heavy drinking when he discovered the magnitude of the problem; and when he acknowledged his own negligence in supervising his top lieutenants. The sad irony, however; is that not only had his comptroller been a childhood friend – with him since day one – more importantly, he was the one confidant who he entrusted to serve as trustee of his family holdings.
I know of no more brilliant person who advises the upper echelon of Fortune 100 senior executives; still when I asked him what advice he’d give himself? He replied by simply saying “learn to make sense of financial reports.” He’s certainly not alone – that’s why I felt it important to share the work of Dawn Fotopulos. Her focus and latest book – Accounting for the Numberphobic is a primer to help you to help you understand the three fundamentals financial statements that most influence the health of your business. It’s starts with the Net Income Statement —-