Many organizations do not realize that financial statements have a value that goes beyond their use as supporting documents for regulatory compliance.
Frequent analysis of financial statements equips business managers and owners to detect the problems that financial experts continue to see as the major cause of corporate failure — such as high operating expenses, excessive fixed assets, and working capital mismanagement.
More and more financial experts are recommending that organizations prepare financial statements periodically. Some companies prepare them at least once a week, sometimes daily, to stay abreast of results. The more often you prepare the financial statements and analyze, the sooner timely decisions can be made.
Compiling, analyzing, and understanding financial statements provides you the most important tools for reducing business risk and detect corporate failures.
Wait till it’s late or use a Guided Learning Opportunity with GLOMACS!
An Intensive 5 day GLOMACS training with Tony Davies, MBA, FCMA, CGMA, FCMI