Khandelwal Manoj
Accountant in Rancho Cucamonga, CA
Prepare financial reports monthly. For year-to-date comparisons and to make quick management decisions, financial reports must be done monthly. As goes the month, so goes the year. You can compare the sales, gross profit, and net profit at, say, the end of May, with prior years and get a nice idea of how the current year will finish. You can compare the total accounts receivable or payables with prior years to spot problems and then speedily take corrective action.
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read moreIf you could have one of the following as your pay for thirty days' work, which would you choose? The $10,000 sounds very attractive, but the fact is that the penny doubled each day for thirty days adds up to over five million dollars. Of course, that is 100% interest compounded daily, a rate not available to most of us working folk. Nevertheless, this example shows you the power of compounding on your investment earnings. You can get rough answers to your financial questions by using the following calculators and making a few estimates on your part.