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Before starting his landscape business, Andrew took a marketing class at the local community college. He decided that his time would be better utilized in this class because if he could learn to sell his services well, the revenues and profits would follow. Your assessment of his plan might include which of the following? Andrew needs to realize that the ability to understand and interpret financial statements provided by his accountant might enhance his profits.

Andrew knows that increasing revenues will always keep the business profitable and in a positive cash position.

Andrew understands that marketing is the life-blood of the company, and he is right on track with his approach.

Andrew has elected to operate like a virtual company and leave various parts of the business including accounting, environmental trends scanning, and management to outsourcers.

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Answer:

Andrew needs to realize that the ability to understand and interpret financial statements provided by his accountant might enhance his profits.

Explanation:

Although his approach with a starter marketing class is good and will surely increase revenues, it is important for Andrew to properly interpret the financial statements provided by accounting. The basics of managerial accounting will provide Andrew with the adequate knowledge needed to determine the structure of his revenue and where costs are based.

This way, he will be able to integrate his marketing knowledge and properly determine the price and decrease the costs where possible.

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