Why Should You Forecast the Balance Sheet?

Dear CFO,

Whenever our business does forecasts, the owners only care about the P&L (Income Statement). As the Controller, I want the business forecast and budgets to include a balance sheet. How can I convince them it’s equally important to forecast the balance sheet?  I also need to develop a model to forecast the balance sheet, once I convince them.
Expanding my forecasts, Baltimore

It seems like most entrepreneurs only focus on the income statement. In my experience that sets up the scenario of unexpected cash flow problems for the business.

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Understanding the Difference Between Debt and Equity

Dear CFO,

The business I run needs an infusion of cash. I asked my controller to analyze the best way to obtain it and he referred me to you. I run a growing small business and in my budget for next year, I am projecting a need for capital to support sales growth and product development. 
Growing too fast for cash flow, Minot, ND

As you’re finding out, growth can be expensive. It does sound like you are at least ahead of the curve by thinking about it now.

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Setting Up a Coherent Chart of Accounts

Putting together a chart of accounts is the necessary first step for any organization to create an efficient accounting system. Charts of accounts are useful for keeping data organized and tracking expenses for the company. However, not all businesses understand what a well-designed chart of accounts looks like. Here are useful tips for setting up a coherent chart of accounts. 

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