Have you ever chatted with your accountant … and not understood a single word that they said? They just gave you great advice and you didn’t understand it?
Straight up, understanding how management accounts work is critical to the success of your business. (I mean how balance sheet, profit and loss and cash flow statements work.)
IT’S THIS IMPORTANT!
If you run a business and you don’t understand how management accounts work – your business is definitely at risk. It is that important. But …
… NO ONE wakes up in the morning thinking., “I must understand management accounts.”
How Money Flows explains – in easy-to-understand plain English – how the balance sheet, profit and loss and cash flow statements work.
Honestly, if you own a business … you need to know this stuff especially if the intention is to succeed financially.
Here’s why it is so important.
I HAD NO IDEA WHAT MY ACCOUNTANT WAS TELLING ME
Several years ago I visited my accountant for a pre-tax review … PAID for a solid hour going over my business … and then I walked out of his office … dazed. It just went in one ear and out the other. It was critical information … but he could have been speaking a foreign language.
When I got to my car I stopped and thought, “Why don’t I get this?” So I went back to the accountant and asked him to explain it to me … again. And again. And again.
THEN I repeated it back IN MY WORDS. And after a few tweaks … I got it!
I totally understood management accounts.
Suddenly I knew EXACTLY what my issues were and WHY … and WHERE to go looking for the information … and why.
“THIS NEEDS TO BE IN A BOOK!”
I immediately went home and wrote down a bunch of notes.
A few days later I was chatting to a business mate who complained, “I made all this money … WHERE IS IT?” So, I started explaining why he had an issue in his business, and gave him a copy of my notes. He said, “Now I get it! This needs to be in a book!”
The result is a simple guide How Money Flows Through Your Business.
EASY-TO-FOLLOW ONE PAGE DIAGRAM
I created a ONE PAGE diagram – a flow chart – based on what I’d been taught.
NOW I GET IT!
The most common feedback then … and still is “I FINALLY understand my accountant. And WHY management accounts are critical to the success of my business. AND … where all my money went.”
Then we ran a workshop and 43 business people showed up! I was nervous … but I delivered the workshop. The feedback was unanimous: NOW I get it!
I then ran a workshop for accountants! The feedback was, “I did a four-year accounting degree … and LEARNED MORE ABOUT BUSINESS FINANCE IN ONE HOUR … than in four years!”
And this has been the result ever since.
DOESN’T MY ACCOUNT DO THIS FOR ME?
NO! Your accountant will report on what happened … and even if what they tell you is 100% correct … I can guarantee MOST business owners will NOT understand what they just heard … or EXACTLY WHAT THAT MEANS TO THEIR BUSINESS.
I know because that was me … and in over 27 years of business coaching … this is about 97% of all my clients.
ESSENTIAL READING BUT …
Straight up this is the most boring topic ever – and it is not light reading – that’s why I wrote How Money Flows in plain language. But …
… you will finally get how critical this information is to your business.
I know you don’t WANT it … but if your goal is a successful growing, profitable, liquid business … you NEED it.
For me, this changed my whole relationship with accounting. Suddenly, I knew what was happening … and why … and how to respond to that information … and then most of my accounting hassles … evaporated.
So, this is not a book you WANT … but I guarantee that once you start reading you will be gobsmacked … and you may even kick yourself that you didn’t read this sooner.
Just so you know some VERY smart, qualified people have proofed this material and they say it is simply the simplest to understand book on management accounts …. ever.
I wish I could say it is original content. It isn’t. I have borrowed stuff from everywhere and from everyone and put it into words that I could understand. As it turns out a LOT of businesspeople feel the same way.
The fence analogy isn’t original either – it’s the metaphor my accountant taught me to explain management accounts – I just translated it from accountant-ese into plain English.
- How Money Flows Through Your Business
- The Money Flows diagram
- The Money Flows video workshop x 90 minutes.
All for $47USD.
The Fine Print
I am NOT an accountant. Understand, this is to help you understand your account … it does NOT replace qualified accounting advice … but it will certainly help you make sense of what your accountant is recommending. So please buy it with that in mind.
I am not offering accounting advice. I’m explaining how management accounts work in plain language …. NOT what’s in YOUR management accounts. I just want you to understand what your accountant is saying.
So … what next?
Go buy it.