This text is intended to provide spa beginners and veterans alike with a better understanding of financial management.

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A financial report, in simple terms, is your success scorecard. "Financial reports provide information on the health of the business. They are your measure of success," says Rose Fernandez. vice president of sales for North America at Jurlique, based in Santa Monica, California. 

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A uniform system of financial reporting establishes standardized formats and account classifications to guide individuals in the preparation and presentation of financial statements.

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