218 CHAPTER 9 GETTING TO NET PROFIT
Moving on
Once you have made allowances for contingency, tax and interest you really have done
almost all of the hard work. You have a detailed profit and loss account. Now it is just a
case of reallocating the numbers in order to produce a balance sheet and the all-impor-
tant cash flow projection. When you have done this once, it will be almost automatic in
the future. Moreover, you will be able to change one number in the sales forecast and
instantly see the effect on cash flow. Does this sound as if it will be a useful management
tool? I think so.
‘Those who are prospering do not argue about taxes.’
CHINESE PROVERB
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