Small Business, Big Ideas

with Jean Willard

July 2013

07/29/13

Change in small business statements presents full financial picture

Certified public accountants follow a rigid set of guidelines for preparing businesses’ financial statements. When we create these statements, footnotes are mandatory, and our rules for small businesses mirror the rules that apply to large publicly held companies. Unfortunately, owners or managers of these small and medium-sized businesses sometimes complain that these financial statements include meaningless details and lose touch with the significant highlights of their businesses.

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