Ascend CFO

06/25/2024

One common confusion I often encounter with clients is why their income statement shows higher profits than the cash they see in the bank. It's essential for any business owner to understand this distinction. Here's a quick breakdown:

Income Statement vs. Cash Flow: Your income statement measures profitability over a period, taking into account revenue earned and expenses incurred. However, it doesn't directly reflect the actual cash moving in and out of your business.

Asset Purchases: When you buy assets (like equipment or property), it impacts your cash flow but isn't counted as an expense on your income statement. Instead, these are capitalized and depreciated over time.

Liabilities: Borrowing money increases your cash but also creates a liability. Repaying loans decreases your cash but isn't recorded as an expense on your income statement.

Owner's Draws/Distributions: Taking money out of the business for personal use (owner's draws or distributions) reduces your cash balance but doesn't affect your profit as shown on the income statement.

Non-Cash Expenses: Items like depreciation and amortization reduce your reported profits without impacting your cash flow directly.

Key Takeaway: Always review your cash flow statement alongside your income statement to get a complete picture of your financial health. Understanding these differences can help you make better financial decisions and avoid surprises.

02/17/2024

At Ascend CFO, our mission goes beyond just numbers. It's about building meaningful partnerships with each of our clients. We are here to be more than just your financial advisor—we are your strategic ally, your sounding board, and your biggest cheerleader on the journey to success.

Whether you're navigating financial complexities, planning for growth, or seeking clarity in uncertain times, we've got your back. Let's embark on this journey together and make your business dreams a reality.

Interested in learning more? Visit our website and reach out today. Let's start a conversation about how Ascend CFO can support your business journey.

www.ascend-cfo.com

01/24/2024

Todd's Accounting & Bookkeeping is now Ascend CFO!

In-depth financial management has always been at the heart of our services. There has been nothing more rewarding than building strong partnerships with our clients and celebrating together in their milestones as more than just their accountant, but as their small business CFO. These experiences inspired a new business name that not only better reflects the services we offer, but also our connection to our clients and desire to grow together! We would like to thank our clients, family, and friends for all of your support during this transition! We also have a new website, www.ascend-cfo.com

01/12/2024

Several of my clients have been experiencing exciting opportunities for their businesses over the last few weeks, and there is nothing more rewarding to me than to receive their excited calls and texts to share their great news with me. I have amazing clients and I love sharing these paths with them. Thank you to all of my clients for bringing me into your lives, and for sharing all of these moments with me. I appreciate every single one of you 💕

01/01/2024

12/01/2023

Howdy, friends and neighbors! 2023 is wrapping up but 2024 is wide open. So DM me if you need live music for your bar, restaurant, private party, house party, corporate event or surprise date night. @highlight

11/27/2023

🔦 “Don’t Get Trapped in the Upside Down of Marketing! Let WebStride Media Be Your Guide to Success! 🚀”

🌟 Running a business can feel like battling Demogorgons, leaving little time for marketing. But fear not, because at WebStride Media, we’ve seen Stranger Things! Let us handle your marketing needs while you focus on what you do best, and together, we’ll conquer the unknown and lead your business to success. 🌐🎯

11/27/2023

We have Gift Certificates available for the perfect stocking stuffer!!

11/25/2023

11/21/2023

Tracking appointments, projects, personal time and all the other time-specific things you have to do can take a lot out of you. Why not delegate that to your Opulent Assistant?

11/21/2023

I often post when we get a large food donation for our Little Free Grocery, but I want to make sure everyone knows how much the small donations matter to us. Almost every day, quite a few people bring us small bags or boxes of a few items. We’ve even had a few people bring in one or two cans. I want you to know that every single item you bring makes a huge difference!

One can of soup is a whole meal for one person. That person doesn’t know how much you brought in today. That person only knows that, today, he or she was able to eat.

In fact, although we do receive large food donations, in trunk loads or pickup truck loads, the vast majority of the food we put on our shelves comes in little bags carried in one hand. Every single item matters to us (and definitely to the people we feed), and we would not be able to support all those people if it weren’t for you and your donations.

I get pretty busy these days, and I don’t always get a chance to greet and thank all the people who donate to our Little Free Grocery, but I appreciate you all more than you could ever know! Whenever I talk to people about what we do, I always make it a point to tell them how Mike’s Club is really just a focal point. We are the place that you in the community bring your donations, but it is you, not us, that is the driving force behind our operation. Together, we are all making a difference. Together, we are lifting people up. Team McAlester is making things happen!