Financial Statements Simplified | Entrepreneur Magazine

Corporate turnaround specialists, Slatter & Lovett found that inadequate financial controls were responsible for 75% of business failures. That is, one or more of the following financial controls may be absent or inadequate:

  • cash flow forecasts
  • costing systems
  • budgetary control
  • monitoring of key performance indicators

sand even when such information existed, management may not have understood how to use the information.

via Financial Statements Simplified | Entrepreneur Magazine.

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