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What Kind of Estate Plan Makes the Most Sense for You?
An estate plan consists of a series of legal documents and legal and financial arrangements that are assembled in a particular way. This arrangement is designed to accomplish your objectives with regard to the use and distribution of your assets, including your business, for yourself, in the event of your incapacity, and for your heirs in the event of your death. It also includes provisions for transfer costs, taxes, debts and creditors as well. In the absence of an estate plan that establishes your estate objectives state law and the courts will determine how your assets are...
Gross Margin - The Potential for Profit
The next line on a P&L is gross profit. Subtract COGS from net sales and you have gross profit. This number is frequently referred to as gross margin and is expressed as a percentage. This is the profit you made from doing what you do. If you manufacture, this is what you made...
Cost of Goods Sold - What does it cost to do what you do?
What does your company do? Some companies manufacture, some provide a service, others distribute. The second line on a P&L is entitled Cost of Goods Sold (COGS). It tells you how much money you spent doing whatever it is you do. If you manufacture, it includes your labor and material...
The Top Line - It All Starts Here
One of the three reports found in a standard set of financial statements is a profit and loss statement (P&L). This statement is also known as an income statement or statement of income. It tells you what the sales and expenses of the business were in a particular time period, usually a...
Profit - Cash - Wealth / Running Your Business by the Numbers
A great business makes a profit and generates cash from those profits. It accumulates cash over time and can do so without much in the way of debt. It makes regular investments in R&D. Such a business pays its expenses and taxes and perhaps makes distributions to stockholders along the...
