Learn from the past

Written by Reed Tinsley | November 7, 2008

If you have a budget from last year, review it closely. Try to find out why you missed or exceeded projections. Look into the numbers. Accurate overall totals might not tell the full story.

Don’t just forget about your budget until you begin the process again next year. Track it monthly and measure your progress. Examine discrepancies to find their cause. By doing so, you’ll steadily develop a fuller understanding of your finances.

Reliably measuring revenue and expenses strengthens your ability to predict what will happen in the future. That makes it easier to plan confidently.

About the Author

Reed Tinsley CPA

This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on accounting & tax, practice management, and financial planning. Schedule a Free Consultation.

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