It’s no secret that every business owner wants to make more money and maximize profits. The problem is they don’t know how to manage the finances of their business which leaves them confused and frustrated, not knowing which levers to pull to drive success. They may make decisions to make more money, but they’re not sure if those decisions are actually helping or hurting.
It strikes a nerve with CEOs that accountants are often not giving them the data they really need to make better decisions. CEOs of closely held businesses, unintentionally, under-appreciate accounting. Because of that, accounting is often underfunded. If a business owner has an extra dollar of profit, they tend to invest it in marketing or selling their product/service.