Success and Peace of Mind It’s true that most accountants tend to stick to ‘the numbers’. They are trained in that area. It is often stated that ‘what you can measure you can manage’. Accountants are educated to measure and report financial outcomes. Traditionally, accountants report historical information. Normally, a Profit and Loss Statement to report on trading results for a period and a Balance Sheet to report the position of the business at a particular date. In more recent years, it is now well accepted that historical information is not enough for effective business management. Business owners have realised that to be competitive, they also need to look to the future. So, whilst historical information remains important, it is no longer enough. Future planning is even more important and our clients now demand to know more. Business owners know that if they run out of cash, they are out of business. They need indicators that predict cash flow. If it looks risky, action needs to be taken and the earlier the better. This is about risk management and asset protection. The concepts of managing risk and protecting assets have always been important, but the world is so competitive these … Continue reading Success and Peace of Mind