The accounting method you choose to use can determine how you show a profit in a given year. This directly affects your business income taxes, and it may also impact whether you are able to obtain a loan or raise investments. Unlike other accounting choices, you can't choose what's best from year to year — you have to make a choice and stick with it for the long term.
A corporate CEO can invest hundreds of hours into tweaking the yearly budget, but the vicissitudes of business can.
It's time to calculate your profit margins so you know which products to keep, which to dump, and which need major.
