Do You Know the 3 Rs of Financial Reporting? | All Business


I’m going to let you in on a secret: The best businesses—those that really boost the wealth and happiness of the business owner—are not built on intuition or luck.

As much as we would like to think that great entrepreneurs have some kind of special gift, the best among us simply know how to create and use meaningful financial reporting, and use it to make decisions that improve our businesses. With a good eye on the numbers and some careful analysis, any business owner can see what is going right and what is going wrong.

But running a business “by the numbers” means that your financial reports needs be built on the 3 R’s: Reliability, Readability, and Regularity:

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