What is your business scorecard?
Posted on: 09/Jul/2021 10:37:42 AM
When you play any sport, there is always a score-card to keep track of
To know whether the team is making progress or not
To know whether it is winning or losing?
Similarly in business, there needs to be score-card to keep track of performance
To know whether the business is doing well or not
These score-cards could be in the form of
1.Monthly Profit and Loss statement
2.Balance Sheet
3.Cash-Flow Statements
4.Budgets vs. Actuals
5.Trend Analysis and so much more
Once you know what is happening in your business, you can tweak it accordingly
It’s all about monitoring and measuring
That’s what CFO does in the company
They monitor the financial health of the company and take necessary actions if required.
Reach Us:
