Accounting isn’t real-time
These days, we’re accustomed to seeing the latest:
Our weather reports update minute-by-minute
Credit card apps notify us as soon as we’re charged
News sites provide real-time findings and updates
Uber tells you exactly when your spouse will arrive to dinner, even if they hit traffic
In this context, the way Accounting works can feel baffling to the modern business owner
Because Accounting isn’t real-time.
It’s a high-assurance system of record
It’s optimized for accuracy and attribution
It requires human review, by design
So if you’re looking at your financial statements and getting frustrated because they don’t appear useful
It might be because
They’re late.
Need reports that keep up with the rest of the world?
You’ll need to look elsewhere!
Hint: Forecasts, Estimates & Leading Indicators
