Accounting Explained Tax Accounting vs. Financial Analysis
Elite Business Advice
•
19m
Become a member: https://www.pcapainted.org/membership-resources/
Have you ever wondered why you look at your profit and loss and it says one thing but you look at your bank account and it says another? Or maybe you look at your profit and loss and it shows a great or terrible month but it’s in huge swings both ways? That’s because there’s a huge difference between tax accounting and financial accounting in how you assess the numbers in your business. Believe it or not, the way you analyze the profitability of your business should be different than how the IRS analyzes your business. In this episode we help simplify the understanding of why things can be different and the best way to analyze the numbers for your business.
Are your finances something you struggle to understand? Do you need help identifying your breakeven number and using your financial analysis to make decisions in your business? Schedule a free business analysis meeting at www.elitebusinessadvisors.com
Up Next in Elite Business Advice
-
Scheduling Expectations and Efficiency
Become a member: https://www.pcapainted.org/membership-resources/
Scheduling projects properly is one of the hot questions of the summer so far for us. In this episode we cover how to schedule work to make sure you’re meeting your financial goals, how to set the right expectations with your cus...
-
Clearstory: Change Order Systems
Become a member: https://www.pcapainted.org/membership-resources/
One of the best ways to wreck your cashflow is to not have a great system in place to manage change orders and time and material tickets. Between dragging out the process, losing documentation, and even disorganization leading to...
-
Having a Mindset of Change
Become a member: https://www.pcapainted.org/membership-resources/
As entrepreneurs we need to have a mindset to grow and change. Often times, this starts with something that challenges us and our thinking to prompt the change. In this episode we talk through the things that can help challenge u...
