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Use What-If Scenarios to Monitor Performance
– February 16, 2011
Utilize your computer software to play “what-if” games for financial performance and your management’s reaction. What if your company increases 10% in volume? What if volume decreased by 20%? What if you lose a major supplier or customer?
Then consider developing a business plan that takes the analyses and incorporates the thoughts of various department heads, so that if and when the situation occurs, your company will be ready.
This is Profit Enhancement Idea #31 in Heard, McElroy & Vestal's 100 Ways: The Profit Enhancement Process series. The purpose of the series is to assist business owners and managers in cutting costs and increasing revenues by working smarter, not harder.
Walker Coburn
318.429.2109
wcoburn@hmvcpa.com
Walker is an Audit Manager in our Shreveport office. He received his Bachelor of Administration in Accounting and a Masters of Accountancy from Millsaps College in Jackson, MS. Prior to returning to his hometown of Shreveport and joining Heard, McElroy & Vestal, Walker worked for KPMG in Jackson and Memphis, and more recently as a financial reporting advisor for FedEx Corporate.
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