Goodrich & Associates Newsletter

Blog Authors

Latest from Goodrich & Associates Newsletter

Selling a distressed business is almost always better than liquidating. But it is not easy, nor is it the same as selling a business that is healthy and solvent. You’ll need experienced, capable professionals by your side and a bias towards moving quickly. In today’s newsletter, I review the necessary steps for getting this done and share pointers for avoiding

Often, business owners incorrectly assume their business is profitable because they rely solely on financial statements. While these are certainly important, a true picture of business profitability requires understanding economic profit as well. In today’s newsletter, we explain the distinction and look at why evaluating economic profit is critical in assessing true financial performance. Read more…
The post Why Worry?

Every business runs on dollars — but there are limits to purely financial analysis. When tracking performance and working to maximize the output of critical measures, it is important to look beyond just financial indicators and consider other factors as well. In today’s newsletter, I share examples of additional, quantity-related measures that should be included in the overall mix. Read more…

In business, change isn’t just inevitable — it’s essential for survival and growth. But making change happen in any organization can be difficult; it requires more than just a few tweaks at the edges, here and there. In today’s newsletter, I share my firsthand experiences with organizational change and offer insights into what really drives successful transformations. By applying these

When a business is in financial trouble, an understanding of its “liquidation value” is essential. Liquidation value is the value of the monetized components of the business, such as accounts receivables, equipment, etc., should the business not be sold as an ongoing concern. Who gets what is then a function of creditor claims on specific assets. This month, I explain

Financial statements are intended to serve a purpose, whether that means sharing how a business is doing with outside entities or managing internally. There is no one-size-fits-all format. Today’s newsletter looks at the most important factors to consider when determining which statements are appropriate for which users and situations. Read more…
The post Different Situations, Different Financial Statements (September 2023)