How Fiscally Fit Is Your Organization?
Is your accounting healthy? It’s a simple question.
For operators, it’s tough to know how financially fit you are. Afterall, you have a business to run and may not live and breathe accounting. Also, how can you make comparisons if every other company is “crushing it”? What managers want to talk about the duct tape and bubble gum holding up parts of their operations?
Cash may be king, but accurate, but relevant data is gold. Every business has numbers and owners need to both get comfortable their numbers reflect reality and help guide business decisions. If your accounting has issues, then your data may not be as solid as it appears.
With that, ask yourself some of these questions:
- Do your books make sense to you?
- Do you understand each line item of your financial statements?
- Do the accounting numbers reflect what your gut is telling you?
- Do you know who your valuable customers / jobs are?
- Are there customers you should consider firing?
- Which products pay the bills?
- Which SKU’s consume cash?
- How are you doing against your financial plan?
- Are you putting your resources to their best and highest uses?
- What happens if one of your accountants or employees suddenly misses work?
These are natural questions to ponder and questions that might be on your mind. If your answer is “No”, “I’m not sure”, or “I don’t know” to these questions, then you would be well served spending time understanding your business blind spots.
That’s why we developed our simple free 5 minute, financial fitness self-evaluation test. The test exists to help business operators and owners get a better grip on their numbers and the state of their accounting function.
While far from being exhaustive and deeply diagnostic, our test gives you a fiscal fitness grade along with a short actionable report of 3 areas to consider addressing and improving.
The financial fitness self-assessment test assess your accounting operation across 5 areas:
- Integrity of numbers
- Finance operations health
- Business driver mastery
- Resource allocation planning
- Budgeting, planning and forecasting
The test is free and information submitted is kept strictly confidential.
After completing the test, you will receive a report within 2 business days on your business’ financial fitness score along with our opinion on the 3 most important accounting and finance items to address or improve. The test is short and asks 25 “yes” or “no” questions across 5 areas of accounting and finance.
What you may find is that you get a clean bill of health or that you have certain areas of strength and other areas that need a little TLC. We hope you are able to spare a few minutes to take the test and learn how you can elevate your accounting function. Some good fractional and full-time CFO’s and accounting professionals can help ensure you remain on the right path.
We write more on this topic, please check us out on LinkedIn or contact us if we can help.