Top 2 Things To Look at on Your Financial Statements

7 days ago

1 min read

1️⃣ On the Balance Sheet, aka Statement of Financial Position, what are the total current assets and the total current liabilities?

Insight: Comparing these two numbers tells you if the organization has enough cash and cash-equivalents to pay for things owed in the short term.

2️⃣ On the Budget vs. Actuals, where are the variances greater than 15%?

Insight: Are there strategic explanations or just excuses to describe the reasons for the variances?

These two pieces of information don't tell you everything you need to know, but they certainly can point you toward some follow up questions you may need to ask.

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