Where should a small business owner turn to determine whether to fire a client, when to expand the sales force or how to price a proposal?
To make these types of decisions, a business owner must be able to forecast and measure the potential profitability of the decision. An owner/CEO cannot project profits by simply studying the income statement and the balance sheet – that’s financial accounting, looking at historical performance.
To predict the impact of a business decision on future performance, a business owner must rely on management accounting.
Click here to see why Stephen King, founder and thought leader of GrowthForce, believes job costing is essential for today's small business owners.