Guide to Great Financials

"I beg your pardon, did you say Great Financials?  Isn't that an oxymoron?"

If you're like most of us the financial statements that your CPA firm prepares for you are things to be glanced at (did we make money or not?), passed on to those who require them - stockholders, lenders and so on - and then put away, most likely never to see the light of day again.  But read?  Well, they're written in a language few people speak, so thanks, but no thanks.

Ever wonder why this is?  It's really very simple.  The statements accounting firms issue must adhere to strict standards of compliance so that comparability across and within many different industries may be accomplished.  The client really has no choice but to accept financials as presented.

But when it comes to internally produced financials there is a lot more latitude.  (No, no, we're not talking about creative accounting.  We're talking about creative reporting.) 

The way to get Great Financials is to design them to fit your management style and your company's unique operations.  This means using terms and nomenclature that is familiar to your industry, to your way of doing business, and laid out in a fashion that is friendly, sensible and comprehensible.

Here at Stepping Stones we are adept at providing the formats that fit your needs.  We use your existing accounting software to design financials that fit your needs, and sometimes augment it with tools that transfer data to Excel where the data can be put into just about any form desired.

Now that's worth thinking about!