What happened?
Understand the information being reported and identify what changed.
Financial information becomes valuable when an owner can understand it, question it and use it to make decisions.
A bookkeeper may know how a transaction was recorded. An accountant may know how financial statements should be prepared. A lawyer may know the legal implications. The owner still needs to understand how all of this affects the operation and what to do next.
Understand the information being reported and identify what changed.
Consider the operational, cash-flow, risk and decision-making implications.
Develop practical questions for the bookkeeper, accountant, lawyer or other advisor.
Financial clarity means looking at the operation as a system. Revenue, expenses, cash, assets, liabilities, reporting, controls and decisions don't exist in isolation.
LFC's role is to help identify relationships and questions that may otherwise be missed.
The LFC logo connects Canadian 99.9999% fine gold with the idea of clarity and value. It represents an aspiration: to bring a high level of care, precision and clarity to the financial picture.