The importance of an annual review

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The importance of an annual review

Success is one of the hardest things to recognise. Not because success is rarely achieved, but because it is so often unclearly defined. Intentionally setting the time to do an objective year-end annual review is one easy way to increase your chances of recognising success in this year and to set yourself up for success in the coming year.

Annual reviews are a powerful business tool. They provide insight into the past year through analysing metrics and other data.

  • Were goals that were set achieved? Why or why not?
  • What other achievements did the company experience?
  • How did those achievements impact the company?
  • What changed within the company because of those achievements?
  • And, perhaps most importantly, the end of the year is the time to review the financial position of the company.

While the financial review is a valuable tool on its own, business owners have an advantage they should utilise when they conduct their annual reviews. Involving a strategic business accountant can provide additional insights into the past year and help shape goals and metrics for the new year. 

Five areas most visited in financial reviews are:



Business owners know what they want from their business, but sometimes they forget to define what that is. An annual financial review with your accountant is a great chance to have a fresh set of eyes looking at the books and asking questions. Use those questions to define your next year and enjoy feeling more successful as a result.

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