Keep these 7 rules of thumb on hand to guide your company's fiscal management:
- Assess Your Accounting and Financial Tools. ...
- Determine What KPIs to Track. ...
- Calculate Your Sales-to-Expense Ratio on a Monthly Basis. ...
- Follow a System for Accounts Receivable. ...
- Don't Expand Too Quickly. ...
- Create a Sales Forecast.
What are the five rules of finance?
Corporate finance includes the management of the following areas of the finance function: Working Capital Management. Cash Budgeting. Financial Analysis.
What are the rules of finance?
Warren Buffett once said, “The first rule of an investment is don't lose [money]. And the second rule of an investment is don't forget the first rule.