How to Make Informed Financial Decisions
Do you receive your financial statements well after the end of the financial year? Then this area is for you. Use the articles below to create your performance dashboard.
Release the Hidden Information in Your Reports
Measure and monitor your business performance with the tools here. There is an enormous amount of information hidden in your accounting reports. Continue reading to learn about this.
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Choices For Your Performance DashBoard
Monitoring trends in your business will alert you to problems before they become critical. So, use analysis tools to monitor and measure things such as cash flow; pricing; labour productivity; return on investment. The options are enormous and can be precis for your attention. Finally, a performance dashboard will allow you to see results quickly.
Analyse the information contained in your Balance Sheet and Profit & Loss Reports. By doing this you will unearth information like cash flow, which is the lifeblood of any business. Take the stress away and have funds to pay bills when they are due. Even, pay yourself a wage. Click here to find out other options.
What are the tools that can be used? This link will take you to articles within 12Faces that focus on business analysis. In addition, learn about the various Boards – TrendBoard; ChangeBoard. The results from these will feed onto your Performance DashBoard. Also, learn about sensitivity analysis. Act now to unearth this crucial information.
Find the extra information hidden in your Profit & Loss and Balance Sheet reports. Properly interpreted, these reports will unleash valuable information about the sustainability of your business. These are an example of what you will find: could my business fail over the next 12 months; what is ruining my cash flow; how much will I get if I sell my business right now. Click here to see an example of a TrendBoard screenshot.
ChangeBoard is a Sensitivity Analysis tool. Are you thinking of increasing prices? Then undertake this with some surety instead of flying blind. For example, a survey of 1,000 firms in Europe showed that an average of 11% increase in Profit was achieved by a 1% increase in Price. Additionally, ChangeBoard can predict changes in staffing; Profit; Cash Flow and Working Capital. Click here to find out more about Sensitivity Analysis and ChangeBoard.
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