Accounting for Family Business Owners: Why You Need Accrual Accounting | 814

"If you're doing your KPIs based on cash accounting, you're not seeing the real picture of your business." – Harry Cendrowski

What You’ll Discover Today:

Most business owners don’t realize they’re using the wrong accounting method—and it’s costing them. In this episode, Dave Lorenzo and Harry Cendrowski break down the crucial differences between cash accounting and accrual accounting, and why every growing business should understand both.

Key Topics Discussed:

• What cash accounting really means (and why it’s misleading)
• The role of accrual accounting in accurate financial forecasting
• Why banks and buyers insist on accrual-based financials
• When and how to transition from cash to accrual accounting
• How accrual accounting impacts budgeting, tax planning, and business valuation
• Real-world scenarios where accrual accounting reveals the truth behind the numbers
• What it takes to convert your financials (and how long it actually takes)

Links and Resources:

• Subscribe via Email: GetInsideBS.com
• Listen on Spotify: Inside BS Show on Spotify
• Listen on Apple Podcasts: Inside BS Show on Apple Podcasts
• Call Us: (305) 692-5531
• Contact Harry Cendrowski: (866) 717-1607

Call to Action:

🎧 If you’re still using cash accounting, this episode is your wake-up call. Watch the video below to see why accrual accounting is essential to serious business growth.