[IMGCAP(1)]One time I got a client who was on the verge of going out of business and he asked if there was anything we could do to stop it from happening.

After my usual tour of looking around, I sent in a staff person to get some numbers for me. I didn’t want the numbers in the financial statements, but the numbers that would show me how the business was really doing, what the trends were, how much business he did with his top five or 10 clients and vendors, the largest-selling items, his pricing methods, who his higher-paid employees were and maybe whether there was hidden value in the business. My staff guy was told what to do, that he had three days, and this was a very high priority.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access