Many practice financial statements we review are a train wreck—they lack critical data and are so poorly organized that they’re virtually useless. As a result, they fail their basic purpose of providing an effective management tool for increasing profits. Below, Jonathan White, CPA* discusses the seven steps necessary to transform your practice financial statements into a valuable tool for increasing your practice’s profitability.
Over the years, we’ve reviewed thousands of practice financial statements. Unfortunately, over 75% fail our simple test—presenting practice...
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