Mercier Mediation and Financial Services

Nova Scotia, Canada

Tip # 3 for Managing Cash Flow for Entrepreneurs

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TIP # 3

Make sure you have a Cash Flow statement.  Why you ask?  Since you already receive the balance sheet & income statement from your book Keeper or accountant. The balance sheet is a snapshot of a company’s financial resources and obligations at a single point in time, and the income statement summarizes a company’s financial transactions over an interval of time.  The Cash Flow statement includes only the incoming and out going of cash and cash equivalents of your business; it excludes transactions that do not directly affect cash receipts and payments. The Cash flow statement should be generated regularly as it may help identify potential cash problems before they occur. It will allow you to be proactive rather than reactive when a cash issue is identified.

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