Category: Accounting Basics

Overhead Costs

Accounting Basics, Finance & Operations |

Overhead costs are just a part of doing business. While many of your overhead costs are fixed costs that don’t vary much year to year, it is still important to analyze these costs periodically.

Napkin Valuation

Accounting Basics, Benchmarking & Metrics, Finance & Operations, Real Estate, Recent |

The term napkin valuation is used when a business appraiser sits down with an owner and use a napkin and a pen to make quick notes which results in an estimated value of the business.

Keep on Track Financially with a Budget

Accounting Basics, Benchmarking & Metrics, Finance & Operations, Recent |

The budget is the roadmap for how to manage the practice’s finances. Many practices, however, don’t have a budget. The best way to create a budget is to follow an idealised P&L and actively manage it to achieve financial success.

Revenue Before Cost: Focus on Revenue-Generation, Not Cost-Cutting

Accounting Basics, Finance & Operations, Practice, Recent |

To grow profits, invest in revenue-producing practice enhancements over keeping costs down. This works in business, in general, and it applies to independent OD practices, as well.