How well  informed are you on the financial condition of your firm?  Answer yes if the question is true,answer no if it is not.
01. I have dashboard which I see every day morning comprising of all Key Performance Indicators (based on Key Result Areas) Yes No
02. Do I have key graphs and information on my mobile, while I outside my office. Remember timely information is the key to timely and accurate business decisions Yes No
03. I receive monthly financial statements latest by 5th of following month and review them every month Yes No
04. We have no pending CRA notice to be adhered to Yes No
05. We have no pending call from Ministry of Labor for violation or complaint by employee Yes No
06. My cash flow is improving day by day. (eg. Paying suppliers as per commitment) Yes No
07. I receive ageing analysis of accounts receivable on weekly basis and review this Yes No
08. Payroll, tax payments, and statutory dues are paid on time Yes No
09. I know exactly what my fixed costs and variable costs are Yes No
10. In case of manufacturing, I adhere to Process and marginal costing Yes No
11. I evaluate each new project along with professional Chartered Accountant to undersand pros and cons Yes No
12. We make at least $2,500 per week per staff member in gross income. (This is ALL staff members, even non-billable staff.) Yes No
13. We have a budget which is compared to our actual profit and loss statement monthly Yes No
14. I track all promotional activities resulting in new clients and / or increased revenue Yes No
15. We bill at least once monthly and within 3 days of month end Yes No
   
   
  • If you have answered no to 4 or more of these questions, it’s time to take a look at ways you can improve your financial management and thus your profitability.

(Call Jogi Gujral for a free, no obligation assessment and quote at your place and at your convenience Call - 647 629 3862).