John Kenney, CPRC, CEO, Cotney Consulting Group
Last month in part one, we covered the business language, Accounting. We discussed accounting systems, percentage of completion and over-under billings. In this month’s article, we focus on revenue impacts, cost control, timelines, tracing costs and working without information.
Total Revenue Impact
Total revenue is the first line in the income statement and directly impacts stated profit or loss, which on a fiscal year basis directly affects assets or liabilities on the balance sheet. The accuracy of the total revenue figure is critical because of its impact on your company’s financial statements. Read more.