I have looked at a lot of financial statements over the last five years from at least 250 different companies in almost every industry imaginable.  They all had one thing in common - they were, in some way, wrong.  This is a major challenge of most start-up, emerging, and medium-sized businesses.

After writing and article titled 20 Indicators Your Financials are Wrong for the American Express OPEN Forum, I received a lot of interesting feedback.  The main issue, however, remains unchanged.  Business owners and managers need information in their hands that is accurate and timely so they can run and improve their business.  Reporting to banks and others should be secondary to getting effective information in the hands of those who run the business.

Feel free to take a look at the article to learn about the 20 most common problems with financial statement accuracy as well as some solutions to those problems.