Every transaction in Business involves numbers. Whether you are buying or selling, numbers
are important.
In manufacturing, numbers tell you the cost of each unit of
goods produced. In the service business,
you need numbers to determine your charge out rate.
Business numbers show
you how much you have put into your business (capital), how much you have made
(profit), and how much you have taken out (drawings).
Business numbers help you know
whether sales are increasing or declining.
Business numbers help you understand the difference between your cash in bank
and the profit made.
Business numbers forms the basis for
tracking and comparing transactions such as monthly, quarterly and annual
sales; inflow and outflow from inception of business, etc.
The importance of business numbers cannot be over emphasized.
‘A business that does not know its numbers is weak. It cannot access its growth; neither can it
make projections to further grow its activities.’
This is a major reason why many businesses fail, because business owners do not
understand their business numbers.
Understanding your business numbers is easy.
ehisegbuji@gmail.com
Let us help you know and understand your BUSINESS NUMBERS.
Find contact details below.
Your friend and Financial advisor
Ehis Egbuji.
(Nigeria's Small Business
Accountant)ehisegbuji@gmail.com
**photo
credit – enpnetwork.com
