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Author Archives: Larry Chester
Identifying the Real Cost of Production
Knowing the actual cost of production is critical to setting accurate pricing and therefore profitability for any manufacturing company. How
Financial Reporting Drives Good Decisions
Problem The company used Cash Basis accounting for their operating statements because taxes were calculated on a Cash Basis. When
Family Business Case Study
A family business can be a great source of pride for everyone involved. However, working with loved ones can present
Every Man for Himself
Just as companies have multiple products to provide diversification to their revenue stream, some parent organizations have multiple companies that
Dealing with Obsolete Inventory
For manufacturers, retailers, or wholesale distributors, inventory is likely the largest item on their balance sheet. A particular problem that
Data Drives Decision-Making
Every business owner looks for the information that they need to make the right decisions. Sometimes the information is not
Customer Concentration
There’s always comfort in working with people you know. But if those people hold the key to 75% of your
A Note From Larry: How to Handle Employee Turnover
This is a difficult time for every business owner. Not only do you have concerns about continuing sales, but you
Succession Planning
Forbes reported that 90 percent of family-owned businesses fail in the third generation. It might be worthwhile to examine one
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