Turning Black Ink Into Gold: How to increase your company's profitability and market value through excellent financial performance reporting, analysis and control

The tacit assumption among business owners and their bookkeepers generally seems to be that the primary objective of financial performance reporting is to facilitate the production of an income tax return. To this end, the primary objective of the income statement is to report the company's net profit. This assumption is misguided. The primary objective of the income statement should be to report the company's cash flow. Quoting Dr. Pablo Fernandez, recognized as among the world's leading a...