Weekly One-Page Flash Report – In every turnaround that I have ever worked on, I have always implemented my Weekly One-Page Flash Report. With this report, I know weekly everything that was going on financially rather than monthly. Monthly is too long of a time to see how the company is changing positively (or negatively).
Weekly One-Page Flash Report. Every owner of a company should receive this report every Monday, which reports:
- The cash balance: Last week’s closing balance, the cash receipts for this week, the disbursements and the ending balance.
- The line of credit balance: Last week’s closing balance, the week’s borrowings, the pay downs, and the ending loan balance.
- The accounts receivable aging status for the past five weeks. This includes Current, 31 – 60 days, 61 – 90 days, 90 days and older (both dollars and percentage of the total).
- The accounts payable aging status for the past five weeks: Current, 31 – 60 days, 61 – 90 days, 90 days and older (both dollars and percentage of the total).
- The payroll expense for the past five weeks broken down into categories: Administrative, sales, manufacturing, etc. (both dollars and percentage of the total plus the number of employees for each category).
- Sales statistics for the past five weeks: Customer proposals, orders received, shipped orders, etc.
Weekly One-Page Flash Report – If the owner of the company has this information available weekly, he can manage the company and monthly financial statements almost become obsolete.
My name is Robert Curry, and I am an Author, CEO Coach, Keynote Speaker, and Turnaround Specialist. Over the past 20 years, I have worked with more than 70 companies taking their businesses from Loses to Profits.
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Recently, I published two books about turnarounds: “From Red to Black – A Business Turnaround” and “The Turnaround.” Both books are true stories about turnarounds of real companies that I turned around during my career. In both books, I shared all my Profit Improvement Recommendations (“PIR’s”). PIR’s helped to grow sales, reduce expenses, improve cash flow, and most importantly, strengthen the management teams.
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