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The Role of Financial Reports in Business Decision Making
The Role of Financial Reports in Business Decision Making Understanding and utilizing financial reports is crucial for making informed decisions that drive business growth. Key Financial Reports: 1️⃣ Income Statement: Shows profitability over a period by listing revenues and expenses. 2️⃣ Balance Sheet: A snapshot of a company’s assets, liabilities, and equity at a specific point in time. 3️⃣ Cash Flow Statement: Tracks the flow of cash in and out of the business, crucial for liquidity management. How to Use These Reports: ◾ Income Statement: Helps in identifying profit drivers and managing costs. ◾ Balance Sheet: Assesses the financial health of the company and ability to meet obligations. ◾ Cash Flow Statement: Guides cash management strategies and helps avoid liquidity issues. As fractionals, your balance sheet is 100% driven by cash and cash flows. Working in this sector, you will have minimal assets and your debt positioning should be nil for your business. On a personal side, I would recommend minimizing debt and operating with a strong cash forward position. Since your business is driven by cash, Income Statement and the Cash Flow Statement are the two reports that hold the most valuable data. Don’t measure your success simply off money coming in. Always remember, your time is valuable!!! Don’t work long and crazy hours trying to keep your business afloat without measuring the success of those efforts. Make sure you’re tracking your billable and non-billable time so you can make sure you’re adding value to your business with your non-billable time.
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New comment Oct 7
The Role of Financial Reports in Business Decision Making
Financial Challenges
I want to hear from you! 📊 What’s the biggest financial challenge your business is facing right now? ◾ Cash flow management ◾ Scaling operations ◾ Raising capital ◾ Planning for the future Comment below or send me a message! #SmallBusinessPoll #FinancialChallenges #CFOservices #BusinessGrowth
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New comment Oct 3
Financial Challenges
Financial Statements - What to expect!
🔎 Is your bookkeeper just handing you reports from QuickBooks and calling it a day? Many business owners receive standard financial statements from their accounting software, but numbers without insights are just…numbers. Reports should go beyond basic bookkeeping by offering: ◾ Strategic Insights ◾ Tailored KPI tracking ◾ Actionable recommendations My reports are trailered to each client. They are clear and easy to understand. I simply financial reporting so you can easily identify KPIs and I highlight important changes with expert insights behind the changes. Hiring an accounting firm that offers controllership with bookkeeping services is the key to finding a financial partner. Don’t settle for simple data entry 🧮📉
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New comment Oct 2
2025 Budget Season Fast Approaching!
Hey everyone, As 2025 budget season quickly approaches, I wanted to share a quick reminder that this is the perfect time to start aligning your financial strategies for the coming year. I recently shared a post on LinkedIn about the importance of early budget planning and how Unbridled Advisory can help support businesses through this process. If you or anyone in your network is looking for guidance or support with budgeting, feel free to reach out to myself or Kristy. We're here to lend a hand and help ensure next year is off to a strong start! Here's the link to the post: Link Looking forward to collaborating with any of you who might need a little extra support during this busy time!
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New comment Sep 20
TOMORROW!!
I will be on the weekly call tomorrow to discuss CFOs and budgets. Join me and gain some insight into the shackles and hackles of finance
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New comment Sep 10
TOMORROW!!
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