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| Robert Lee Riley CPA, MBA-tax |
| Riley Accounting |
| What to Look for in Your Business Financial Statement Copyright Robert Lee Riley, all rights reserved, do not duplicate without permission of author. ...how much income are you generating? What is your gross profit and what is your net profit? ...how much cash is tied up in accounts receivable, and when can you expect to receive it? ...how much do you owe for merchandise, rent, equipment, and for loans payable? ...what are your expenses including payroll, taxes, merchandise, advertising, equipment, repairs, insurance, and employee benefits? ...how much cash do you have on hand? How much cash is tied up in inventory? ...what is your gross profit margin? On average are the jobs profitable before administrative expenses. ...which of your service or product lines is profitable? ...how frequently do you turn over your inventory? (Sales divided by inventory). ...to be continued as time permits, check back. |