Midsized Firms Can Survive a Cash Crisis
Harvard Business Review
MAY 8, 2014
The story of MBH Architects, a northern California firm that designs retail stores, conveys an important lesson on how to survive such a cash crisis. In 2006 and 2007, the partners earned big bonuses. Cash revenues were indeed $200 million for the year, but the correct GAAP net revenues were only $30 million and profit was $2 million.
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