Year End Wrap Up

Our topic for discussion at this month’s meeting will focus on items to remember as you wrap up the current year and the finalization of the budget for 2008.

1. Maximizing the Current Year
In October we looked at the activities to maximize the final quarter. As one moves into the business of the Holidays, it is good to review these actions. In particular revenue actions and cost management cannot be forgotten in the month of December. Below are a number of topics which add to the operating effectiveness, but here the focus is on maximizing the current year’s results.

2. Cash Management
For some industries December represents a peak cash flow month, while for others it is a low time. For this latter group, cash crunches can make it a challenge to pay final bills prior to the end of the year. Cash basis tax payers need to evaluate bill payments as part of final month tax planning.

3. Year End Customer Contacts and Reviews
While combing your customer lists for potential Q4 sales, remember ...

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