Know your financials by scrubbing the numbers with your accountant

By Michael Lodge on February 29, 2024

Michael Lodge - The Business Advisor / Mediator - 424.542.7299 -

As a CEO or business owner, one of the most crucial meetings each month is the one with your accountant or senior accounting team to scrub your financial statements. This process involves printing out an income statement and balance sheet in a format that allows you to compare all the months side by side. By doing so, you can gain a comprehensive view of your monthly financial activity and identify any unexpected changes or trends that require further investigation. This regular financial check-up ensures that you stay informed and in control of your company's financial health.

During the meeting, it is important to ask questions about any significant fluctuations or anomalies in the financial statements. By understanding the reasons behind these changes, you can make informed decisions to address any issues or capitalize on opportunities. This collaborative discussion with your accountant not only helps you stay on top of your financial performance but also fosters a deeper understanding of your company's financial operations.

Taking just 30 minutes each month to review and discuss your financial statements with your accountant can provide valuable insights into your business's financial health. By actively participating in this process, you demonstrate your commitment to understanding and overseeing the financial aspects of your company. Remember, as the CEO or owner, you are ultimately responsible for the financials, so make sure to prioritize these meetings and stay informed. If you ever need assistance or have questions about your financial statements, don't hesitate to reach out to me here and set up a session with me or go to

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