Focus CPA

he Profit & Loss Statement is a very critical tool to assess the financial success of a business. However, for small businesses the statements are usually set up to prepare a tax return. In many cases the expenses are in alphabetical order.

Just like a person, a business has a pulse. It needs a pulse to stay alive. It may not need blood, but it does need cash and energy.

GOOOOO Packers! Having been born and raised in Green Bay, football is a key part of life here. Where else in the world does a football team sell out practice games?

If you have a business loan with the bank, chances are you have been asked to update your personal financial statement.

I recently came across a life satisfaction survey. There was a list of questions about my life and about my business.

Prices are soaring, staffing is tight and interest rates are rising. Keeping the cash flowing within a business is becoming harder. Being profitable does not always mean that cash is aplenty. It definitely helps, but other items can impact the cash flow.

Do you remember the excitement of jumping out of bed, ready to charge forward and live your life to the fullest? Or maybe on Christmas morning right after Santa Claus had delivered the presents and your parents allowed you to get out of bed?

Many years ago my neighbor, an attorney, who had his own practice, was stung by a bee. For some this people this would be a minor pain, however in this case he was allergic to bees.

We make decisions every day, sometimes consciously and sometimes unconsciously. The unconscious decisions just happen, such as what time we go to bed and what time we get up.

Financial success can be found in a variety of ways. The best way to achieve it depends on your current situation. Success can be found through a rewarding job, building a business, making an investment, funding a retirement account or a combination.