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Bragg":1,"#381 Results found for <span ljsid-1=\"\">\"Contabilidad \"</span>":1,"#408 Results found for <span ljsid-1=\"\">\"Contabilidad Financiera II\"</span>":1,"#No Results found for <span ljsid-1=\"\">\"Quién se ha llevado mi queso\"</span>":1,"#<span ljsid-0=\"\">Book Summary</span> <span ljsid-2=\"\">|</span> Ken Blanchard, Mark Miller":1,"#Many people today are experiencing fear and turmoil, and they require leaders who can step forward with insight, humaneness, and compassion to help them find grace and love amidst the confusion and chaos. In Who Do We Choose to Be?, Margaret J. Wheatley reveals how leaders can serve others by satisfying the basic human desires for generosity, community, contribution, and love in times of crisis. She believes that this form of sane leadership is the only path forward, and it is one that all leaders and people, in every line of work, must embrace to effect change.":1,"#<span ljsid-0=\"\">Book Summary</span> <span ljsid-2=\"\">|</span> Margaret J. Wheatley":1,"#The Secret":1,"#<span ljsid-0=\"\">Book Summary</span> <span ljsid-2=\"\">|</span> Ivan Misner, Doug Hardy, Stewart Emery":1,"#The Five Thieves of Happiness":1,"#<span ljsid-0=\"\">Book Summary</span> <span ljsid-2=\"\">|</span> Laura Liswood":1,"#Who Moved My Cheese? is a classic management parable about two mice and two mouse-sized people who took very different approaches to achievement, loss, and change. Dr. Spencer Johnson, the best-selling coauthor of The One Minute Manager, uses these characters to relay the vastly different ways that change can affect people. He illustrates how your choices can help you succeed through volatility, uncertainty, turbulence, and ambiguity or keep you mired in fear, doubt, or anger.":1,"#In Who’s in the Room?, Bob Frisch examines how leaders can better utilize their teams while increasing satisfaction and productivity. CEOs and their Senior Management Teams (SMTs) frequently experience tension that is difficult to manage. While team members believe their positions grant them the right to be consulted in major decisions, their involvement is often limited and can lead to feelings of resentment. Leaders often expect SMTs to take a wide picture view rather than utilize their expertise to dissect business cases, and they often grow irritated with the SMTs’ seeming inability to do this. A common solution is to hire a consultant to engage groups in team building exercises, but this is rarely effective because it does not address the root of the problem. As Frisch explains, the real issue is that SMTs are rarely called on to play to their strengths.":1,"#427 Results found for <span ljsid-1=\"\">\"Quién se ha llevado mi queso\"</span>":1,"#<span ljsid-0=\"\">Book Summary</span> <span ljsid-2=\"\">|</span> John Izzo":1,"#Most companies want excellence to be an integral part of their company cultures, but how people perceive excellence at the outset of a new job or company initiative can subtly degrade over time. Both at work and in their personal lives, people gradually set the bar for themselves and others lower and lower until average performance is deemed to be sufficient. In Who Kidnapped Excellence? Harry Paul, John Britt, and Ed Jent use a parable to highlight five core areas people should focus on to achieve excellence in all aspects of their lives. The story revolves around Gorman-Scott Inc., a company whose employee, Excellence, has been kidnapped and replaced by the cleverly disguised Average. Leadership does not recognize that Excellence is missing until a ransom note is left one day. Excellence’s team—Passion, Competency, Flexibility, Communication, and Ownership—must ward off Average’s team to bring Excellence back.":1,"#The New World of Work":1,"#Written in the style of fiction, The Secret follows the story of Debbie Brewster as she tries to diagnose the troubles of her team. Recently appointed to her leadership position, Debbie finds herself and her team drowning without a true sense of direction or collaboration. She realizes she is desperate for a mentor and discovers one in the company’s president. Throughout the story, Ken Blanchard and Mark Miller describe the attributes and practices of successful leaders while simultaneously describing real-world applications of the lessons imparted in the book. They use a mentorship setting to demonstrate the secrets of great leaders.":1,"#<span ljsid-0=\"\">Book Summary</span> <span ljsid-2=\"\">|</span> Steve Rizzo":1,"#Who Kidnapped Excellence?":1,"#Who Do We Choose to Be?":1,"#In 2015, former minister John Izzo took a sabbatical from his work as a sought-after speaker, consultant, and author to search for the secret of sustainable happiness. In his search, he found that destructive thought patterns rob humans of their natural human state—happiness. In The Five Thieves of Happiness, Izzo reviews the five thieves of happiness: control, conceit, coveting, consumption, and comfort, and he teaches readers how to identify and overcome them in order to transform their own lives and make the world a better place.":1,"#<span ljsid-0=\"\">Book Summary</span> <span ljsid-2=\"\">|</span> Spencer Johnson":1,"#Who's in the Room?":1,"#Who Moved My Cheese?":1,"#<span ljsid-0=\"\">Book Summary</span> <span ljsid-2=\"\">|</span> Bob Frisch":1,"#In The New World of Work, Peter Cheese explores the major factors impacting the workplace and how work models can be improved to keep pace with modern developments. Learn how to build a responsible business, demonstrate employee value, and prioritize employee well-being. Expand your mindset to help push your business toward the future.":1,"#<span ljsid-0=\"\">Book Summary</span> <span ljsid-2=\"\">|</span> Peter Cheese":1,"#Businesses have embraced the cognitive benefits of creating a diverse workplace, but are modern workplaces truly diverse? In The Elephant and the Mouse, Laura Liswood proposes that while businesses employ a more diverse workforce, this hasn’t led to the successful rise of these diverse groups within most organizations. Some voices in the workplace remain overheard while others are still underheard, and because of this progress has stagnated. Businesses that want to convert diversity, equity, inclusion, and justice (DEIJ) ideals from awareness to actionable behaviors need inclusive leaders with new tools who can create environments where everyone feels valued and has an equal chance to thrive.":1,"#The Elephant and the Mouse":1,"#<span ljsid-0=\"\">Book Summary</span> <span ljsid-2=\"\">|</span> Dennis Bakke":1,"#<span ljsid-0=\"\">Book Summary</span> <span ljsid-2=\"\">|</span> John Britt, Henry Paul, Ed Jent":1,"#<strong ljsid-0=\"\">Lita Epstein</strong> is a financial writer who has written more than 25 books, including <em ljsid-2=\"\">Reading Financial Reports for Dummies, Streetwise Crash Course MBA</em>, and <em ljsid-4=\"\">Surviving a Layoff: A Week-by-Week Guide to Getting Your Life Back Together</em>. She earned her MBA at Emory University's Goizueta Business School. After getting her MBA, she served as associate director of development for President Jimmy Carter's international programs at The Carter Center, raising millions of dollars to support international peace efforts. She also served as a financial manager for The Emory Clinics. Currently she enjoys helping individuals and companies develop good financial, investing, and tax-planning skills, and also writes periodically for AOL's online blogs.":1,"#In order to maintain a healthy cash flow in a business and ensure good standing with vendors, suppliers, and other people with which a company does business, it is important to get a handle on credit transactions. If a company offers to sell to customers on credit, the amount due gets tracked in an account called <em ljsid-1=\"\">accounts receivable</em>, which is also a line item on the balance sheet. The terms of a company's accounts receivable policy can be the major impediment to speeding up collections of cash from accounts receivable, but any changes to this policy could impact customer loyalty. It is important to consult sales staff or frontline service staff before making any major changes to an accounts receivable policy, but there are several key terms that can be changed to speed up collections.":1,"#Calculating the value of inventory to be sold is important for anticipating potential revenue, but these calculations can be very different depending on whether the company is a retail or a manufacturing business. It is important to monitor how quickly a company's inventory turns over and generates cash. There are five key accounting methods to choose from, each with its own set of calculations:":1,"#All budgets start with a sales forecast. Companies determine whether they expect sales to go up or down in the next 12 months based on a number of factors. Reviewing past sales on a product-by-product basis will allow a business owner to recognize trends, and consider cutting products that are not selling. This will also help to create a potential pricing policy, by raising prices on products that are selling well and cutting prices to move merchandise that does not sell. Market research is another key budgeting tool, as it includes potential sales and competitive data for the entire industry as well as forecasts for the individual company. When creating a budget for the year, it is important to review industry and general economic conditions, and to adjust the sales forecast accordingly.":1,"#Why Budgeting Is Important":1,"#PART II. USING INTERNAL REPORTING TO MANAGE PROFITS AND COSTS":1,"#In <strong ljsid-1=\"\">The Business Owner's Guide to Reading and Understanding Financial Statements</strong>, Lita Epstein presents a guide for business owners to gain a better working knowledge of what exactly goes into the three key financial statements: the income statement, the balance sheet, and the statement of cash flows. A business can fail for a variety of reasons, but Epstein identifies several reasons that can be tied directly to the need for better understanding of financial statements. Epstein argues that the key to success is to look behind the numbers in financial statements and to work with an accountant to create customized...":1,"#Communicate Effectively, Manage Costs, Assess":1,"#<em ljsid-0=\"\"> * First In, First Out (FIFO).</em> A method used if spoilage is a big concern. It assumes the first item put on the shelf will be the first item sold (e.g., milk in a grocery store).":1,"#The liabilities on a balance sheet are also divided into current and long-term. <em ljsid-1=\"\">Current liabilities</em> are any liabilities that a company must pay in the next 12 months, including short-term borrowings (usually credit cards or short-term lines of borrowing, which often carry high interest-rate charges), long-term debt payments that must be made in the next 12 months, accounts payable (products bought on account from vendors, contractors, etc.), and accrued liabilities (such as withholding taxes or sales taxes). <em ljsid-3=\"\">Long-term liabilities</em> are those that must be paid out in the next year or years, which can include mortgages and loans on machinery and equipment.":1,"#Methods of Accounting":1,"#* The <em ljsid-1=\"\">statement of cash flows</em> will provide an idea of how much cash has flowed into and out of a business.":1,"#* To review what a business owns and what it owes, it is necessary to look at the <em ljsid-1=\"\">balance sheet</em>.":1,"#Reducing Bill Payments":1,"#Working with an accountant to create customized internal reports is a business owner's best method for gauging the true financial standing of the company, and anticipating potential problems down the road. There is no limit to the variety of internal reports that a business owner can create, and these reports will be instrumental when making key decisions about the business. The numbers in these reports will help a business create budgets, manage inventory, monitor collections, keep track of discounts and special pricing, and get a handle on manufacturing costs.":1,"#The Income Statement":1,"#Companies can use one of two accounting methods to track finances, the key difference between the two being how the company records cash coming into and out of the business. <em ljsid-1=\"\">Cash-basis accounting</em> is ideal for smaller companies that have not fully incorporated, as well as most sole proprietors. In this method companies record expenses when cash is actually paid out and record revenue when cash is received in hand. The benefits of this method are that it tracks actual cash available and does not require a large accounting staff. The downside is that expenses and revenues are not carefully matched on a month-to-month basis.":1,"#ISBN: 9781118143513":1,"#Effective Financial Management":1,"#It is important for any business to develop a realistic budget yearly, and then to use that budget to prepare a budgeted income statement to track the company's success on a weekly, monthly, or quarterly basis. A <em ljsid-1=\"\">budgeted income statement</em> becomes a tool that can be used throughout the year to identify trends that could impact a company's bottom line at year-end.":1,"#On the opposite side of accounts receivable is accounts payable, and an <em ljsid-1=\"\">accounts payable ratio</em> will show how quickly a company pays its bills. This ratio is calculated by dividing the cost of goods sold (shown on the income statement) by the average accounts payable (shown on the balance sheet). Calculating a company's bill paying turnover is a two-step process that starts with finding the average accounts payable. This is done by adding the accounts payable total from the previous year and the accounts payable total from the current year, and dividing by two. The accounts payable turnover is then calculated by dividing the cost of goods sold number by the average accounts payable number. The higher the accounts payable turnover ratio, the shorter the time between the purchase of goods and payment for those goods. A low number could indicate a cash flow problem, meaning that adjustments have to be made to other areas to ensure that the company has enough cash on hand to pay its bills.":1,"#The Statement of Cash Flows":1,"#Managing Inventory":1,"#<em ljsid-0=\"\">Operating activities</em> include depreciation expenses (costs subtracted over time for the depreciation of equipment and facilities), inventory, accounts receivable, and accounts payable. <em ljsid-2=\"\">Investing activities</em> can include the purchase of new buildings or major equipment, major improvements to existing buildings, or any mergers or acquisitions. Not all transactions shown in the investing activities section drain cash, as they can include cash generators such as the sale of assets including land, major equipment, or marketable securities. <em ljsid-4=\"\">Financing activities</em> include any cash used in relation to stock, dividends, new debt, and debt payoff.":1,"#The <em ljsid-1=\"\">accrual accounting method</em> becomes necessary as a company grows. In this method, revenue is recorded when the actual transaction is completed (not when the cash is received), and expenses are recorded when they are incurred. The benefit of this method is that expenses and revenues are better matched, which provides a better understanding of a company's true financial standing. The downside of this method is that it requires a sizeable accounting staff, and the complexity of this method leaves room for error or manipulation.":1,"#* An <em ljsid-1=\"\">income statement</em> may show a profit, but that does not necessarily reflect the true financial standing of a company as it does not address things like what a company owns, what it owes, or what equity there is in the business.":1,"#Unless the business is a sole proprietorship or a partnership, the owners are not the only people who should be involved in the budgeting process. In a business with key managers who will be responsible for meeting specific goals, the best way to develop a budget is to set up a budget committee and enable managers to develop budgets for their own departments.":1,"#©2012 Lita Epstein":1,"#Discounts and Special Pricing":1,"#Managing inventory is an essential task for any business because inventory is a company's primary means of generating revenue. For businesses that purchase inventory to be sold (such as retail companies, supermarkets, etc.), managing inventory is a relatively straightforward process of figuring out what sells well and what does not, and making adjustments in purchasing, pricing, and freight costs to reflect this. In order to keep track of inventory trends, a business can choose a method of periodic inventory or perpetual inventory, though these are not mutually exclusive. <em ljsid-1=\"\">Periodic inventory</em> involves doing a physical count of inventory at regular intervals, which can be time-consuming but will ultimately produce the most accurate numbers. <em ljsid-3=\"\">Perpetual inventory</em> involves using a computer system to adjust inventory automatically after each sale, which is essential for high-volume businesses. These two methods are often used in tandem, because companies that use a perpetual inventory system will periodically do a physical count to account for spoilage or theft.":1,"#The next key financial statement that every business owner should be familiar with is the income statement. The income statement can quickly answer whether or not a business made a profit during a given period of time. There are four key parts of an income statement:":1,"#The Balance Sheet":1,"#PART I. USING EXTERNAL REPORTS TO GAUGE A COMPANY'S HEALTH AND COMPETITIVE STATUS":1,"#the-business-owners-guide-to-reading-and-understanding-financial-statements":1,"#Brian Finch":1,"#<em ljsid-0=\"\"> * Specific Identification.</em> A method in which the cost of inventory is calculated by tallying the costs of each individual product in the inventory. This method works best with high-value items with many customized options, such as cars.":1,"#Clicking this link will redirect to relevant products for the Author Lita Mba Epstein.":1,"#CONCLUSION: USING FINANCIAL STATEMENTS FOR DECISION MAKING":1,"#The credit period is the period of time that an owner allows customers to pay their bill, and changing from a liberal to a more conservative period will speed up collections but may drive customers away. If customer collections become a consistent problem, a company can also adjust its credit standards by tightening credit eligibility requirements. Offering discounts to customers who pay early is one of the best tools for getting money in the door quickly, but speeding up cash flow will reduce the amount of cash the owner can expect from sales. Adding interest charges for overdue accounts or adding a periodic collection fee for past due accounts will also create more cash flow, but may anger customers or cause credit sales to dip.":1,"#<em ljsid-0=\"\"> * Lower of Cost or Market.</em> A method in which the value of inventory on hand is determined based on whichever cost is lower—the actual cost of the inventory, or its current market value. This method is found in companies whose inventory changes rapidly (such as dealers in precious metals, commodities, and publicly traded securities).":1,"#Cash is the lifeblood of any business. The financial statement that will determine whether a company has enough cash to pay the bills is the <em ljsid-1=\"\">statement of cash flows</em>. This statement digs into the cash receipts, cash payments, and changes in cash that a company holds, minus the expenses of operating the company. A statement of cash flows is broken into three main sections: operating activities, investing activities, and financing activities.":1,"#<em ljsid-0=\"\"> * Expenses.</em> This line item shows the operating expenses the company incurred during the period reflected in the income statement, which can include money spent on advertising, administration, rent, salaries, etc.":1,"#Information about this book and other business titles: <a ljsid-1=\"\">www.wiley.com/business</a>":1,"#The final section of the balance sheet pertains to the value to be divvied up among a company's owners, which is known as <em ljsid-1=\"\">equity</em>. At the end of every year, a company can use profits to reinvest in the company, or pay them out in dividends to the owners. Any profits not paid to the owners over the years are accumulated in an account called <em ljsid-3=\"\">retained earnings</em>. The retained earnings line on the balance sheet will show how much money has been reinvested into the company since it was formed.":1,"#One of the key financial statements that every business owner should become familiar with is the balance sheet. A balance sheet reflects a company's results as of a specific period of time, usually the end of a month, the end of a quarter, or the end of a year. The balance sheet will tell a business owner what the company owns (assets), what it owes (liabilities), and what equity there is in the company. The assets shown on a company's balance sheet can reflect a wide range of things but can be divided into the two main categories of current assets and long-term assets. <em ljsid-1=\"\">Current assets</em> are those that can quickly be converted into cash, and that a company will likely use to pay the bills over the next year. Current assets include things like cash-on-hand, accounts receivable (this account tracks the total amount of money due from individual customers to whom the company offered credit), and inventory (the value of products that a company holds for sale). Long-term assets are any assets that a company holds for more than a year, and are generally not able to be readily converted to cash. Long-term assets include land and buildings, which must be depreciated over time. This is done with a line on the balance sheet called <em ljsid-3=\"\">accumulated depreciation</em>. Machinery and equipment are also long-term assets subject to depreciation, but on a shorter timeline. Aside from current and long-term assets, there is also a section of the balance sheet for <em ljsid-5=\"\">intangible assets</em>, which includes things like patents, copyrights, trademarks, and goodwill.":1,"#Financial reporting is the process of collecting key numbers that will give a summary of what is happening financially in a company. These numbers will provide a financial picture that includes a company's assets, liabilities, equity, sales, costs and expenses, profit or loss, and cash flow. There are three key financial statements that play a starring role in gauging a company's financial health.":1,"#Information about the author and subject: <a ljsid-1=\"\">www.litaepstein.com</a>":1,"#Related summary in the BBS Library:":1,"#<em ljsid-0=\"\"> * Average Costing.</em> A method that involves averaging the cost of inventory on hand at the beginning of the month and adding the cost of any inventory purchased during the month to determine an average cost of inventory. This method provides a simple way to watch the overall trends of an inventory's cost.":1,"#<em ljsid-0=\"\"> * Cost of Goods Sold.</em> This line item will show what it cost the company to purchase or produce the goods or services it sold.":1,"#The actual owners of a business are not the only people who read the key financial statements. Many people depend on the information that a company presents in its reports, regardless of whether the business's financial reports are private or public. Most small businesses are private companies, but they still need to provide financial information to a relatively small (yet significant) group of stakeholders, including managers, investors, suppliers, vendors, and the financial institutions with which they do business. Financial statements are not required to be made public unless the company sells shares of its stock on a public market, after which the business is considered a public company and must file a series of reports with the Securities and Exchange Commission (SEC), or with the state in which the company does business. Whether the company files with the SEC or the state generally depends on the number of investors it has.":1,"#In <strong ljsid-1=\"\">The Business Owner's Guide to Reading and Understanding Financial Statements</strong>, Lita Epstein presents a guide for business owners to gain a better working knowledge of what exactly goes into the three key financial statements: the income statement, the balance sheet, and the statement of cash flows. A business can fail for a variety of reasons, but Epstein identifies several reasons that can be tied directly to the need for better understanding of financial statements. Epstein argues that the key to success is to look behind the numbers in financial statements and to work with an accountant to create customized internal reports to more accurately gauge the financial health of a business. By taking a closer look at customers' payment habits, inventory turnover, and cost control, a business owner is better able to quickly make course corrections to remain profitable.":1,"#<strong ljsid-0=\"\">Cash is ultimately the lifeblood of any business.</strong> Internal reports can be utilized to monitor cash flow and gauge a company's true financial standing. Internal reports are invaluable for things like budgeting (to anticipate potential cash flow issues), for managing inventory (to anticipate potential revenue), and for monitoring customer collections (to create more cash flow).":1,"#by Lita Mba Epstein":1,"#Projects Successfully":1,"#Manufacturing businesses have many more variables to consider when calculating inventory value because they must account for both fixed and variable costs, and adjust these accordingly to meet the bottom line. <em ljsid-1=\"\">Fixed costs</em> are those that must be paid just to open the doors of the business; they include things like direct labor and the operation of plant and office facilities. <em ljsid-3=\"\">Variable costs</em> in a manufacturing business are where most adjustments will be made, and they are tied to the costs of raw materials and labor. When a manufacturing business sets out to determine the amount of revenue it expects to make, it will need to review key accounts from the past 12 months, including raw material purchases, labor costs, and manufacturing overhead. After all costs and expenses are accounted for, the ultimate inventory value for a manufacturing business is the collective value of its raw materials on hand, as well as finished goods and unfinished goods (goods in process).":1,"#<em ljsid-0=\"\"> * Net Income or Loss.</em> This bottom line will show if a business made a profit or incurred a loss.":1,"#<strong ljsid-0=\"\">Budget for results.</strong> Budgeting on a periodic basis (month-to-month or even week-by-week) will enable a business owner to keep a close eye on how well the business is doing, and also to react quickly to things like cash flow issues and fluctuations in the economy, as well as helping to prepare for unexpected growth.":1,"#<strong ljsid-0=\"\">Customize internal reporting.</strong> There is no limit to the variety of internal reports that a business owner can create to manage a business effectively. Internal reports can help a business owner make key decisions by determining which of a company's products produce a profit and which produce a loss, determining what parts of the company should receive additional resources to encourage growth, and determining appropriate staffing and inventory levels needed to meet customer demand.":1,"#The key is to be mindful of whether or not the ratio number is gradually going up. This indicates healthy cash flow and better credit with suppliers, vendors, and bankers.":1,"#<em ljsid-0=\"\"> * Last In, First Out (LIFO).</em> This method can be used in a business where the age of inventory does not matter. It assumes the last item put on the shelf will be the first to go.":1,"#<em ljsid-0=\"\"> * Net Sales or Revenues.</em> The first line of any income statement reflects the amount of money a company collected from customers minus any discounts given or returns accepted.":1,"#<strong ljsid-0=\"\">The Business Owner's Guide to Reading and Understanding Financial Statements</strong> introduces managers and entrepreneurs to the various types of financial statements and explains in a clear, concise way the reason why each is important. The book emphasizes the usefulness of these reports for financial decision making in order to avoid common missteps and monitor success throughout the year. A comprehensive index makes navigating simple. Whether used as a reference or read cover-to-cover, the book is a valuable guide for tracking finances and keeping a business profitable.":1,"#External reports give information to bankers, vendors, and suppliers, as well as to people inside the company who do not have full access to the financial details of the business. Internal financial reports are the ones that are truly needed to manage finances and make intelligent decisions about the business. Working with an accountant to develop customized internal reports will help a business owner quickly identify and address problem areas. Though it may take time to develop these reports, once designed, they can be programmed into a computerized accounting system that can generate them automatically, which will make it well worth the effort for years to come.":1,"#If inventory is not moving quickly enough to facilitate cash flow, it may be a good idea to utilize discounts and special pricing to boost sales. Though each method involves taking a cut in revenue to increase potential sales, they work differently and must be handled separately. Discounts are advertised publicly by a company, through various media outlets or in-store advertising, as a way to facilitate a short-term boost in sales, usually to bolster cash on hand or get rid of inventory that is not moving quickly enough. Special pricing is a long-term agreement made privately between the company and a potential large customer, and involves selling a product at a lower price in anticipation of high-volume sales of that particular product.":1,"#<span ljsid-0=\"\">Book Summary</span> <span ljsid-2=\"\">|</span> Lita Mba Epstein":1,"#386 Results found for <span ljsid-1=\"\">\"Análisis e Interpretación de Estados Financieros\"</span>":1,"#<span ljsid-0=\"\">Book Summary</span> <span ljsid-2=\"\">|</span> Aswath Damodaran":1,"#<span ljsid-0=\"\">Book Summary</span> <span ljsid-2=\"\">|</span> Shari Olefson":1,"#<span ljsid-0=\"\">Book Summary</span> <span ljsid-2=\"\">|</span> Karen Berman, Joe Knight":1,"#Rita McGrath":1,"#Liked <span ljsid-2=\"\">(23)</span>":1,"#<em ljsid-0=\"\">Discount rate</em>: Similar to an interest rate but calculated in reverse so the amount of money decreases from what it’s worth in the future to the amount it’s worth in the present.":1,"#<em ljsid-0=\"\">Introducing a new product into a new market.</em> This is a risky and expensive strategy.":1,"#<em ljsid-0=\"\">Introducing a new product into the same market</em>. AppleSeed could add gourmet potato chips to its product line since it already has loyal customers who’d like more products from them.":1,"#AppleSeed’s annual report to shareholders will include a final income statement, cash flow statement, and balance sheet for the year—aggregates of every transaction that has occurred in the past 12 months. By revealing AppleSeed’s annual revenues, net income, return on sales, and return on equity, these financial statements will help shareholders better understand how the company is doing, the value of their stock, and the logic behind any plans you announce for the company’s upcoming fiscal year.":1,"#Buy a $1.5 million building for AppleSeed’s offices and manufacturing.":1,"#Accumulated depreciation (H)":1,"#Accounts receivable (B)":1,"#Sale of stock (H)":1,"#Income taxes paid (G)":1,"#Fixed asset purchases (E)":1,"#<em ljsid-0=\"\">The cash flow statement</em>. This report uses the formula <em ljsid-2=\"\">cash on hand at the beginning of a period + cash received during the period – cash spent during the period = cash on hand at the end of the period</em>. Intended to help you ensure that there’s more money coming into your company than leaving it, it includes the following line items and equations:":1,"#<em ljsid-0=\"\">Profits, earnings, and income</em>: What’s left of the revenue after deducting costs and expenses.":1,"#Friction-Maxxing":1,"#Income from operations (C – G = H)":1,"#General & administrative (F)":1,"#<em ljsid-0=\"\">Putting more of the same product into the same market</em>. This would maintain the status quo.":1,"#Start production and pay workers one month’s salary.":1,"#Current liabilities (K + L + M + N = O)":1,"#Prepaid expenses (D)":1,"#The assets column":1,"#Sales & marketing (D)":1,"#©2022 by Thomas R. Ittelson":1,"#These are the four potential expansion strategies in which AppleSeed could invest:":1,"#<em ljsid-0=\"\">Leverage. </em>To measure how much your company’s assets are financed with debt, use the formula of <em ljsid-2=\"\">current + long-term debt / total assets = debt ratio</em>.":1,"#To determine how well your company is performing compared to its previous years or to its competitors’ performances, don’t focus on the sales, costs, expenses, or assets that appear on its financial statements. Instead, analyze the relationship between the statements’ line items. This process of comparing one number on a financial statement with another is called <em ljsid-1=\"\">ratio analysis</em> and is most often used to assess:":1,"#Pay income taxes.":1,"#Net fixed assets (I = G – H)":1,"#Cost of goods sold (B)":1,"#To master basic accounting, you must first learn its language. Some of the most important terms include:":1,"#<strong ljsid-0=\"\"><a ljsid-0-0=\"\">Thomas R. Ittelson</a></strong> is a scientist, businessperson, author, and teacher with over 30 years of hands-on experience in business development and marketing for technical companies. As a consultant to entrepreneurs, he has written business plans that have raised over $500 million in start-up equity capital. Currently Ittelson is a principal with The Mercury Group, a management consulting firm specializing in marketing, financial modeling, business strategy development, and fundraising.":1,"#<em ljsid-0=\"\">Cash from operations</em>: The amount incremental sales from the option is estimated to be along with the incremental costs and expenses needed to generate these sales.":1,"#Accept an order on credit for 15,000 cases at $15.66 per case.":1,"#Preparing for manufacturing":1,"#Retained earnings (R)":1,"#Interest income (I)":1,"#<em ljsid-0=\"\">Balance sheets</em> summarize your company’s assets, liabilities, and worth at a given time.":1,"#The article focuses on the concept of \"friction-maxxing,\" a term introduced by columnist Kathryn Jezer-Morton, which encourages intentionally choosing more challenging or time-consuming activities over convenient digital alternatives to enhance cognitive abilities and tolerance for discomfort. It highlights concerns that technology-driven conveniences contribute to reduced problem-solving skills and shrinking attention spans. Expert Gloria Mark, author of Attention Span, recommends engaging in tasks that promote deep cognitive processing, such as using physical maps for navigation instead of relying solely on digital tools. Examples include reading books or completing puzzles instead of passive digital consumption.":1,"#<em ljsid-0=\"\">Profitability</em>. To assess your company’s percentage of profit margin, use the formula of <em ljsid-2=\"\">net income / net sales = return on sales</em>.":1,"#<em ljsid-0=\"\">Liquidity.</em> To measure how easily your company can pay its bills when they’re due, use the formula <em ljsid-2=\"\">current assets / current liabilities = current ratio</em>. Here, any current ratio above the value of two is good.":1,"#Each of these transactions are entries in AppleSeed’s income statement, cash flow statement, and balance sheet. An <em ljsid-1=\"\">entry</em> is an update added to the three financial statements’ respective existing totals which are the sums of all previous transactions in the fiscal year. By frequently updating AppleSeed’s financial statements with the latest transactions, you can continuously monitor the company’s financial health and adjust its operations as needed.":1,"#Receive one million jar labels at .2 cents each and order raw materials.":1,"#Accrued expenses (L)":1,"#Fixed assets at cost (G)":1,"#Cash from operations: (D = B – C)":1,"#Cash receipts (B)":1,"#Beginning cash balance (A)":1,"#Gross margin (A – B = C)":1,"#<em ljsid-0=\"\">Expenses:</em> The money spent developing, selling, and managing a product.":1,"#Once you know what these three categories will be for each option over a set number of future years, insert their value into the formula of <em ljsid-1=\"\">cash from operations + depreciation (aka the discount rate) – taxes – capital spending – working capital = total future cashflow</em>. It will be revealed that the Chips-R-Us option has the highest NPV and should be pursued. It would allow AppleSeed to start generating profit immediately, unlike the more expensive, time-consuming option of building a factory.":1,"#Acquiring the existing Chips-R-Us.":1,"#Acknowledges the uncertainty and threats your company will face while pursuing the strategy.":1,"#<em ljsid-0=\"\">Ledgers. </em>Books where accounts or groupings of similar financial items are recorded, each on their own page. Every time you make a journal entry, update the account that subsequently changed in the ledger.":1,"#Scrap 500 cases of inventory that were ruined.":1,"#Create machinery depreciation schedules.":1,"#Getting started with financing":1,"#Other assets (F)":1,"#Cash disbursements (C)":1,"#Income taxes (J)":1,"#<em ljsid-0=\"\">The income statement</em>. Using the formula of <em ljsid-2=\"\">Income = Sales </em>–<em ljsid-4=\"\"> Costs </em>–<em ljsid-6=\"\"> Expenses</em>, the purpose of the income statement is to determine whether your company is generating profit or operating at a loss. It includes the following line items and equations:":1,"#<em ljsid-0=\"\">Assets:</em> Items a company owns, such as its cash, inventory, buildings, accounts receivable, and prepaid expenses.":1,"#<em ljsid-0=\"\">Capital spending</em>: The estimated amount and timing of capital directed into real estate and equipment that will be necessary for the option to succeed.":1,"#<em ljsid-0=\"\">Introducing the same product into a new market.</em> Winning over a new customer group with applesauce could involve expensive, time-consuming new distribution and marketing methods.":1,"#Reflects your company’s strengths and weaknesses.":1,"#<em ljsid-0=\"\">Asset management</em>. To determine how efficient your company is at generating revenue with its assets, use the formula <em ljsid-2=\"\">annual sales / assets = asset turn ratio</em>. The higher the asset turn, the more efficient it is.":1,"#Capital stock (Q)":1,"#The three types of financial statements that are needed to see a complete picture of a company’s financial health are <em ljsid-1=\"\">income statements</em>, <em ljsid-3=\"\">cash flow statements</em>, and <em ljsid-5=\"\">balance sheets. </em>":1,"#The process of determining whether your company’s planned investments are worth pursuing is known as<em ljsid-1=\"\"> capital budgeting </em>and requires you to know the following terms:":1,"#Financial Statements: Construction and Analysis":1,"#Growth, profit, and return":1,"#Marketing and selling":1,"#Career Press Inc.":1,"#<em ljsid-0=\"\">Increase in working capital</em>: The additional working capital necessary to support AppleSeed’s expanded business under the option.":1,"#To better understand how an NPV analysis works, consider how it would be applied to AppleSeed’s decision between its two expansion strategy choices of:":1,"#<em ljsid-0=\"\">Journals</em>. Books of chronological records of every financial event or time that cash has been exchanged between your company and another party.":1,"#Make advertising flyers.":1,"#<strong ljsid-0=\"\">Final cash balance </strong>(A + D – E + F - G + H = I)":1,"#<em ljsid-0=\"\">Income statements</em> reveal the profitability of your company’s manufacturing and selling activities.":1,"#According to the concept of <em ljsid-1=\"\">time value of money</em>, your company’s money is worth more today than it will be in the future due to factors such as inflation. It’s important for companies to invest in expansion strategies that will keep their money growing instead of it staying dormant and decreasing in value.":1,"#Aligns to your company’s existing mission, vision, and goals.":1,"#Pay a .375 per share dividend and pay shareholders.":1,"#Make principal and interest payments on three months’ worth of building debt.":1,"#Receive $234,900 for the 15,000 cases and pay the broker’s commission.":1,"#Pay for the factory machinery, which is worth $250 thousand dollars.":1,"#The liabilities and shareholders’ equity column":1,"#<strong ljsid-0=\"\">Total assets</strong> (E + F + I = J)":1,"#<em ljsid-0=\"\">Costs: </em>The amount of money spent manufacturing a product.":1,"#By calculating the NPV for each option, you can then compare their results and select the one that would increase AppleSeed’s value the most. The future cashflows of each option are calculated from three sources:":1,"#Because accurate financial statements require accurate data, your company must maintain:":1,"#<strong ljsid-0=\"\">Net income </strong>(H + I – J = K)":1,"#To assess your company’s financial health, you must learn to assemble and read three types of reports. These three financial statements are interconnected and affect each other’s numbers:":1,"#<em ljsid-0=\"\">Expenditures: </em>Describes the outflow of money to pay for purchases.":1,"#<em ljsid-0=\"\">Sales and revenue:</em> Defined as any money received from customers.":1,"#A Step-By-Step Guide to Understanding and Creating Financial Reports":1,"#After choosing the second option as having the most potential, you must decide whether AppleSeed should make its own gourmet potato chips or acquire an existing potato chip company. Both choices require raising capital, either by taking out a loan or selling stock.":1,"#Understands your customers’ wants and needs.":1,"#Pay some of your suppliers.":1,"#Receive two months’ worth of raw materials.":1,"#Transactions: Exploits of AppleSeed Enterprises, Inc.":1,"#Accounts payable (K)":1,"#Cash (A)":1,"#<em ljsid-0=\"\">Liabilities</em>: Any forms of money a company owes to its lenders, suppliers, and employees.":1,"#Building a new potato chip factory.":1,"#<em ljsid-0=\"\">Present value (PV)</em>: The value of a future amount of money in today’s dollars.":1,"#Making Good Capital Investment Decisions":1,"#To successfully expand your company’s business, identify where it can most effectively invest its time, resources, and capital. A good expansion strategy is one that:":1,"#To better understand how the three financial statements are composed, imagine launching an applesauce company called AppleSeed Enterprises, Inc. (AppleSeed). The following are examples of transactions from AppleSeed’s first year during different phases of its launch:":1,"#Inventory (C)":1,"#<em ljsid-0=\"\">The balance sheet</em>. The purpose of a balance sheet is to get a snapshot of your company’s finances. Its basic formula of <em ljsid-2=\"\">assets = liabilities + shareholders’ equity </em>is evident in its format of two columns, which should both equal the same total in their last lines:":1,"#One of the most effective tools for determining if a planned investment will be profitable is a <em ljsid-1=\"\">net present value (NPV) analysis.</em> The NPV of a planned investment is the sum of its estimated future cashflows with an appropriate discount rate applied. If its NPV is positive, the investment is anticipated to increase the company’s value by that amount in today’s dollars.":1,"#<em ljsid-0=\"\">Future value (FV)</em>. The estimated value of a current asset in the future based on an anticipated growth rate or compound interest.":1,"#Ensures that the risks involved are such that if the strategy fails your company won’t lose all of its assets.":1,"#Move 19,5000 cases of applesauce into the “finished goods” inventory.":1,"#Take out a $1 million loan for a 10-year mortgage with a 10 percent interest rate.":1,"#Pay yourself one month’s salary.":1,"#Sell 150,000 shares of AppleSeed stock at $10 per share.":1,"#Current portion of debt (M)":1,"#Net borrowings (F)":1,"#Operating expenses (D + E + F = G)":1,"#<em ljsid-0=\"\">Shareholders’ equities: </em>The amount of money a company’s owners have invested in the company.":1,"#Business Expansion: Strategy, Risk and Capital":1,"#Hire workers and pay their first month’s salary, benefits, FICA, and taxes.":1,"#Shareholders’ equity (Q + R = S)":1,"#Long-term debt (P)":1,"#Income taxes payable (N)":1,"#Current assets (A+B+C+D = E)":1,"#Research & development (E)":1,"#Net sales (A)":1,"#Financial Statements: Structure and Vocabulary":1,"#<em ljsid-0=\"\">Cash flow statements </em>detail the amount of cash flowing into and out of a company during a specific period.":1,"#When it comes to understanding a company’s accounting books, most nonfinancial managers are illiterate. In <strong ljsid-1=\"\">Financial Statements</strong>, Thomas R. Ittelson aims to solve this problem by providing a step-by-step guide to basic accounting. Throughout the book, he explains fundamental terms, tools, practices, and formulas. In addition, he shows how to create and decipher the three types of financial statements necessary to track your company’s performance.":1,"#Bill Gurley":1,"#Jason Wild, Emily Tedards, Linda A. Hill":1,"#Deny Non-Essential":1,"#Este sitio web utiliza tecnologías como cookies para habilitar la funcionalidad esencial del sitio, así como para analítica, personalización y publicidad dirigida.":1,"#<var hour=\"\"></var>:<var minutes=\"\"></var> minutes":1,"#You are signed in as <var signed_in_as=\"\"></var>":1,"#How to Make Decisions with Uncertainty":1,"#Uncertainty is part of making meaningful decisions. Rita McGrath shares how to move forward without having all the answers by breaking complex challenges into smaller steps, learning along the way, and making progress even when the path isn’t fully clear.":1,"#Ken Moore":1,"#384 Results found for <span ljsid-1=\"\">\"estados financieros\"</span>":1,"#Runnin' Down a Dream":1,"#Genius at Scale":1},"version":205500}]