Recently Newpoint President Ken Yager was asked to write an article for the “Know Thy Numbers” series for Financial Poise. He wrote about the uncharted territories of accrued expenses, how they’re made, how they differ from accounts payable, and how they differ from prepaid costs. “After decades of helping businesses manage cash flow, I cannot tell you how many times the aftermath of missing liabilities looked like a game of Clue™: It was “Mr. Accrued Expenses,” ignored in the cash planning “room,” with the candlestick, that killed “Mr. Businessman.”
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