Conversations with Your Accountant (Part 2)
1. Cash flow – How is your business’s current cash flow? What is burn rate? What cash flow is needed for maintenance and expansion? Cash is the oxygen every business needs to survive.
2. Contracts – do budgets, plans and changes align with language in contracts. Balloon payments, covenant violations, etc. can derail budgets and plans if not aware of language in contracts.
3. Negotiations or opportunities – is there an opportunity for better terms – bank loans, vendor relationships, tax credits, etc.
4. Staffing concerns – who is leaving? onboarding needs or concerns, employee retention and employee training.
5. Capital improvements, fixed asset and personal property needs. What is an expense vs. investment? Every outlay of cash should have a dollar value and/or purpose assigned to it.
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