Timely Profit & Loss statements are needed to keep your company from crashing.
Imagine you're piloting an airplane when suddenly the entire instrument panel goes dark. You have no indication of air speed, altitude, fuel status and all the other information needed to get to your destination safely. A scary thought, huh?
Yet, a comparable situation prevails within the vast majority of PHC companies in this industry. A Profit & Loss Statement (P&L) is the instrument panel for a business. The average small contracting firm does not produce one at all, except maybe once a year when his accountant puts one together at tax time. That's hardly worth the paper it's printed on. It's like an instrument panel that comes on for only a few seconds at the end of a cross-country flight.