Cash flow statements are critical. It boggles my mind how many people don’t have a daily or weekly cash flow tool to help guide their business.
Over the years at American Management Services, I’ve met with owners who don’t have some type of ongoing, daily, functional cash flow reporting.
So many tend to look at their bank balance each day and function from there.
Cash flow statements provide you the information necessary to properly run your organization based on every penny coming in and what goes out.
I found this article on MediaFeed.org written by Megan Sullivan that runs through the basics of cash flow statements.
In it, Sullivan dives into the six basic elements that make up a cash flow statement, and goes through each element with a fine-toothed comb.
She also discusses how to prepare, create, review, and read a cash flow statement.
Simply checking your business’s bank statements is not enough.
Cash is king, and it’s ridiculous if you don’t believe it!
If you need help putting together a cash flow statement, give me a call at (800) 743-0410.
Straight Talk with Lou Mosca (June 12, 2019)
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American Management Services, Inc is committed to providing unparalleled business management and turnaround solutions for small and medium-sized privately owned businesses. With over 30 years of experience, spanning virtually every industry type,
we deliver Results, not Reports.
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