Can you answer these 20 important questions

Business Self Assessment

1 Do you control your business the correct way ?

2 Do you know how to delegate  and the benefits of delegation ?

3 Do you understand the dangers of journal entries ?

4 Are you aware of the proper method of  recording  business transactions ?

5 Do you know how to properly cost your sales  ?

6 Do you understand the power  and magic of break even analysis ?

7 Do you understand electronic recording ?

8 Are you able to read and understand financial statements ?

9 Are you able to interperate financial statements ?

10 Are you able to get the most out of your employees ?

11 Are you able to properly budget a profit forecast ?

12 Are you able to prepare a cash flow ?

13 Do yo understand the difference between a partnership and a corporate ?

14 Do you know the responsibilities of being a director ?

15 Do you know the difference between an accountant and an auditor ?

16 Are you aware of the different sources of obtaining capital  for your business ?

17 Do you know what to look for when buying or selling a business. ?

18 Do you understand the basic concept of taxes ?

19 Do you know the implications of selling on credit ?

20 Are you aware of your rights if one of your customers  goes into bankruptcy ?


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