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"Once again, Bragg has turned his discerning eye and formidable talents on a topic and the results are outstanding. Both those new to the business and the long-established entrepreneur will benefit greatly when he joins forces with E. James Burton to produce this outstanding work."
—Mary S. Schaeffer, Editorial Director Accounts Payable Now & Tomorrow
"I use the tips and practices found in [this book] all through the year. They are clear, direct, and efficientwhich, in turn, improves our company and our bottom line. I recommend [this book] to anyone wanting to improve their own bottom line."
—D. R. Drum, CIO, CSO Engineering/Accounting, Dragon Moon Productions
"Eminently accessible, this book is a must-read for the entrepreneur, both new and established alike. Organizationally, the work flows smoothly and logically in a way that is valuable for the start-up as well as the veteran needing a refresher on specific aspects of the small business accounting/financing picture. I found particularly useful the rich resourcefulness that Messrs Burton and Bragg brought to the table in compiling the essential checklists for every conceivable corner of the entrepreneur's financial realm from fraud prevention to financing options. As a small business owner myself, I was well pleased with the real-world guidance and instant 'useability' this book offers."
—David Struthers, JDFacilitator/Trial Lawyer
"This book is essential for any small business owner, manager, or accountant's business tool kit. This easy-to-read book distills complex subject matter into meaningful and understandable information and is a great refresher course for those deeply involved in the accounting and financial matters of a small business. The book contains many examples that can be used immediately in daily operations to improve the quality of information for better decision making. The book provides those involved in small business the framework to manage what they measure."
—Jim Bologa, CFODaticon, Inc.
Section I: Preparing to Operate the Business.
Chapter 1: Budgeting for Operations.
Definition or Purpose of an Operating Budget.
Signs of Budget Ineffectiveness.
Improvements to the Budgeting System.
Budget Tracking and Maintenance.
The System of Interlocking Budgets.
Need for Budget Updating.
Chapter 2: Investing in Long-Term Assets and Capital Budgeting.
Overview and Use of Capital Budgeting.
Capital Budgeting Sequence.
Producing Numbers to Get Dollars, the Use of Forms, and the Capital Budgeting Model.
Appendix: Examples and Comparison of Calculations.
Chapter 3: Basic Control Systems.
The Need for Control Systems.
Types of Fraud.
When to Eliminate Controls.
Section II: Operating the Business.
Chapter 4: Cash Flow Concerns.
What to Do with Excess Cash.
Introduction to Cash Flow Budgets.
Indications of Cash Flow Problems.
Preparation of the Cash Budget.
Net Cash Flow and Cash Balances.
Exceptions to Expected Cash Flows.
Appendix: Cash Flow Example.
Chapter 5: Financing.
Zero Working Capital and Zero Fixed Assets.
Types of Financing.
Private Placement of Stock.
Swapping Stock for Expenses.
How to Obtain a Bank Loan.
Sources of Debt Financing.
Types of Loan Arrangements.
Restrictions on Loans.
Conditions That a Borrower Should Seek.
Section III: Evaluating the Operations of the Business.
Chapter 6: Performance Measurement Systems.
Types of Financial Ratios.
Using Performance Measurements for Predictions.
The Balanced Scorecard.
Chapter 7: Financial Analysis.
Chapter 8: Taxes and Risk Management.
Controlling Tax Liabilities.
Types of Insurance Companies.
Chapter 9: Reporting.
Federal Government Requirements.
State Government Requirements.
Local Government Requirements.