Mike Bohinc has taught principles of small business accounting to a lot of contractors.
Previously, we addressed a question posed by a number of contractors on message boards regarding the difference between profits and cash. Specifically, “my income statement shows $50,000 but I don’t have $50,000 in my bank account. Where did the money go?” I introduced you to the Statement of Cash Flows, the financial statement that answers this question. As promised, in this installment of the series we’ll look at some ways that cash flow can be improved. Collect ...
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