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Business Knowledge and Control Assessment

Purpose: The assessment identifies the earliest business-control phase requiring attention and directs the owner to the most appropriate next product or APR support pathway. This is a free entry assessment, not a substitute for legal, tax, accounting, or other professional advice.
Response Scale:
1: Not in place, unknown, or not consistently done
2: Mostly not in place
3: Partially in place
4: Mostly in place and generally reliable
5: Fully in place, documented, and consistently reviewed

Choose the response that best reflects your business today.

Name

Email

Know What You Own | Business Foundation

Let’s begin with the basic structure, records, and responsibilities that support your business.

1. I can clearly state the business's legal name, entity type, ownership, and current contact information.

2. Required registrations, licenses, permits, and insurance are identified and current.

3. Business and personal banking, spending, and records are consistently separated.

4. I maintain a complete inventory of business bank, credit, loan, payment, and merchant accounts.

5. Core governing documents, contracts, policies, and ownership records are organized and accessible.

6. I use a compliance calendar for renewals, filings, licenses, insurance, and other recurring obligations.

7. I can describe the complete customer journey from first contact through payment and follow-up.

Know How You Operate | Operations Visibility

Next, consider how work, customers, responsibilities, and follow-up are managed.

8. Recurring workflows are documented well enough for another person to follow them.

9. Responsibilities and decision authority are clear, even when the owner is unavailable.

10. Sales opportunities, client commitments, projects, deadlines, and follow-ups are tracked in one reliable system.

11. I know which operational problems repeatedly cause delays, rework, missed revenue, or customer frustration.

12. The business conducts a structured weekly review of priorities, commitments, risks, and decisions.

Know Your Numbers | Financial Records

Now think about the reliability and organization of your financial records.

13. Every business bank, credit card, loan, payment processor, and payroll account is recorded in the bookkeeping system.

14. Accounts are reconciled consistently and unexplained balances are investigated.

15. Revenue and expenses are categorized consistently enough to support useful reporting.

16. Owner contributions, draws, reimbursements, and personal expenses are clearly identified and documented.

17. Loans, credit cards, sales tax, payroll liabilities, and other amounts owed are accurately tracked.

18. Supporting documentation can be located for significant income, expenses, transfers, and adjustments.

Know What the Numbers Mean | Financial Understanding

This section looks at how confidently you use financial information to make decisions.

19. I can explain the difference between revenue, profit, and cash available.

20. I review and understand the profit and loss statement, balance sheet, and cash-flow information.

21. I know the monthly revenue needed to cover operating costs and owner compensation.

22. I understand which products, services, clients, or projects generate the strongest and weakest margins.

23. I maintain a forward-looking cash forecast and can identify potential cash shortages before they occur.

24. Financial targets and decision thresholds are reviewed regularly and used to guide action.

Know What You Owe and When | Tax Readiness

Finally, consider how prepared the business is for tax filings, payments, and professional review.

25. Federal, state, and local filing and payment obligations are identified on a current calendar.

26. Estimated tax payments and other tax deposits are tracked and supported by records.

27. Contractor, payroll, sales-tax, and other reporting information is maintained throughout the year.

28. Potential deductions are supported by receipts, logs, business-purpose documentation, and other required records.

29. The books are reviewed and reconciled before tax information is provided to the tax professional.

30. I can assemble a complete, organized tax-preparer package without reconstructing the year from memory.