Today, Ellen Rohr "Business Make-over Expert," was on from Bare Bones Biz with the topic of "Where did the money go?" (http://www.barebonesbiz.com)
She discusses the importance of fully understanding your financial statements as they give great insight into your business. She discusses how her dental office interacts with her and appreciation of their approach.
Bottom line, without profits businesses don't stay in business long. You can show a profit on your Income Statement, but if that profit lives as a Receivable, it does you no good.