Respond to - A good example for me, is if a company needs to buy new equipment, such as a fork lift. A new forklift could cost as much as $45,000 and it will have a lifespan of about 5 years. The depreciation expense would be $9,000 each year of the 5 year lifespan. However, if using accelerated depreciation it would a higher amount of depreciation in the earlier years, which could be a positive in the tax area as it would allow for a lower tax payment. The accelerated depreciation may leave more room in the project cash flow in the later years of that 5 year program. In order to ensure that all financial details are allocated for and tracked, I would first make sure I have the proper software and application to track said details. Going through and logging all financial statements, recons, an ongoing projects cash budgets and in general the company's cash flow. I'd also like to schedule monthly meeting to go through these logs to ensure they are staying up to date and accurate