Financial statements are management tools that deserve better than the bottom of the drawer. They can serve as a mode of operation that indicates trends. Profit is not at all synonymous with cash on hand so do not confuse them.
There are several ratios that can be calculated to set the pace (and trends) of your business: the debt ratio, the ratio of working capital, ARDOH, APDOH, INVDOH, etc. You can talk to your banker or accountant too!
“Monthly financial statements may be too expensive for an SME.”
A balance sheet is a picture of your business of your SME at age of 8, 9, 10, 12 and 24 months. By using a professional accountant who will eventually know your SME well, do not limit his role to simply writing your tax reports.
Your financial statements speak! It is only a matter of listening to them!
Communicate with the Project Officer, Mr. Benoit Brunette at 613 675-4661 extension 8106, at 613 306-2614 or by email at [email protected] for your entrepreneurial projects.
