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Why Profit First will make you question everything
The Age-old Equation
The GAAP (Generally Accepted Accounting Principles) formula for determining a business’s financials is Sales – Expenses = Profit. It is simple, logical, and clear. Unfortunately, it’s a lie. The formula, while logically accurate, does not account for human behavior. In the GAAP formula, your share is a leftover, a final consideration, something that is hopefully a nice surprise at the end of the year. Alas, the business and you continue on your check to check survival.
With our method, you flip the formula to Sales – Profit = Expenses. Logically the math is the same, but from the standpoint of the entrepreneur’s behavior, it is radically different. With this method, you take a predetermined percentage from every deposit first, and only the remainder is available for expenses. This means more money in your pocket from the moment you change.
Pierce & Company can put more in your pocket
Our firm is one of the select few, globally, that has received a Mastery Level Certification in Profit First. What does this mean for you? We will guide you with the methods to greatly increase the profitability of your business. Of course, we provide excellent accounting services, and we work aggressively to legally reduce your tax liability, both of which you should expect from any CPA you work with. What sets us apart is that we also drive profitability in your business - and help you keep more of what you make.