The Profit & Loss Account (or P&L Account) is one of three primary financial statements (together with the Balance Sheet and Cash Flow).
It is a summary of the revenue received by a business in a period together with costs and charges for the same period, deducted to show the profit earned. [continue reading…]
Financial Control means using financial measures (and other measures) to monitor the performance of your entire business system.
It avoids the ostrich system of you, with your head in the sand, not knowing what’s going on. [continue reading…]
Many business owners have an uneasy relationship with money.
They know they want it – indeed the opportunity for making more money was one of the big driving forces behind the decision to start a business.
But they don’t understand it.
The numbers frighten them.
The jargon is confusing. [continue reading…]
Having an effective performance measurement system is the key ingredient to knowing your business is under control and producing the results it should do.
Or if something goes out of kilter, you get to know about it quickly and you can bring it back under control by taking whatever actions are necessary.
Measures Are Essential For Independence From Your Business [continue reading…]
Welcome to Pillar 1 of the Eight Pillars of Business Prosperity, my system for helping any type of business to increase profits.
The focus of Pillar 1 is on your Key Numbers, Measures and Performance Indicators.
Where You Are [continue reading…]