Last month, I wrote about the pitfalls of being overly trusting of spreadsheets. As a follow-up, I felt compelled to offer some practical advice. Below are my top ten – it could easily be many more. 1. Know the answer …
Long before there was Visi-Calc, Multiplan, Lotus 1-2-3, and Microsoft Excel there was Ticonderoga No. 2. In some ways it is still the most powerful tool in existence for financial analysis. Why? Because it is the only one that absolutely …
For small companies, emulating the practices of “the big guys” usually has value. There is a reason why the big guys have been successful and gotten big. But they should only be emulated to a point. They have resources that …
I spend a fair amount of my time developing financial forecasts. As we approach year end, everyone is thinking about 2010. What are expected revenues? What changes will we make in our cost structure (either by necessity or choice)? What …
During the last couple of weeks, I’ve had the opportunity to review a few new income statements. What I saw was pretty typical . . . too many lines. Both had over 150 line items. It is clear that the …
Last month, I wrote about the many questions that are part of our business day. To some extent, an audit is all about asking and answering questions about the financials statements of a business and whether or not they accurately …
Truthful financial statements are a mirror. They are a reflection of what is happening in the business on a day to day basis. They reflect the decisions that management is making and the efficiency (or lack thereof) with which they …
With all of the computing power that has been applied to business over the last 30 years, I sometimes wonder if it has produced any better information!? Yes, we have reams of data but there are times when it serves …
As we come to the end of 2007 and enter 2008, there is no better time than now to think about doing things differently in the New Year. While I am not a big fan of New Year’s Resolutions (any …
Last Month, I posed the question “Who’s Your CFO?” I argued that every business had someone who functioned as CFO, and the real question was whether or not they were qualified to do so!? I hope that article provided some …
