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Wade Anderson's Articles in Accounting

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How to Monitor Your Cash Flows With A Cash Flow Statement Does your company post a profit? Even with profits, cash flow is an entire different animal. Often ignored, but of great importance to the operations of any business, cash flow monitoring is the best test to determine whether your company is reaching its full potential. Give Your Customers The Credit They Deserve, Use A Credit Application One of the best ways to increase sales is to extend credit terms to your business customers. Companies that extend credit have an average of 37% higher revenues than companies that do not. Extending terms to your customers allows them to be flexible with their payments and pay you in accordance with their individual cash flows. The Ins and Outs Of A Financial Statement Audit Report All public companies and many private companies as well, undergo an annual financial statement audit; the culmination of which is an audit report. The audit report gives an opinion of an outside accountant on the overall financial condition of the company. Is Your Business In Balance? All About The Balance Sheet Along with the income statement and statement of cash flows the balance sheet is one of the three primary financial statements used by businesses to evaluate the financial health of a company. How To Generate Pro Forma Financial Statements For A Company Many companies generate and keep historical financial statements, but very few develop a working set of pro forma financials. Pro Forma financial statements are designed to give you a look at the projected, future financial statements of a company. How To Use Purchase Orders To Track Purchases Without the use of purchase orders within an organization expenses can quickly get out of control. The use of such a form allows you to know exactly what is purchased when and by whom.