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Tuesday
September 14, 2010

Tip of the Day - 10 Questions to Ask When Starting a Business Budget

Filed under: Tip of the Day

BudgetsJoseph Anthony, a tax expert and financial-planning consultant based in Portland, OR, offers 10 questions that all business owners need to consider when beginning their budgeting process. The answers to these questions will help guide your financial decision-making when planning out budgets for next year.

  1. What’s your cash flow? 
  2. What are your assets? 
  3. What are your liabilities? 
  4. What’s it costing you to produce what you sell?
  5. What’s it costing you to sell what you sell? 
  6. What’s your gross profit margin? 
  7. What’s your debt-to-asset ratio? 
  8. What’s the value of your accounts receivable? 
  9. What’s your average collection time on accounts receivable?
  10. What are your accounts payable?

From Counselor’s Sept. 2010 feature on budgets called Money Matters.

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