Heading Off Unintended Consequences In recent emails, I’ve updated you on regulations going into effect this year as well as consequences we realize from previous legislation (namely, SOX). The legislation was enacted because of the erosion of accountability in this country. How do you hold your company accountable while also raising the bar for maturity… | Read the full article »
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The Sarbanes-Oxley Act has created several unintended consequences including, in my opinion, eliminating many basic company controls it was intended to enhance in the first place. Sarbanes-Oxley (SOX) became law in 2002 and was shortly followed by more regulation and the creation of the Public Accounting Oversight Board (PCAOB). SOX has created many interesting dynamics… | Read the full article »
One of the changes affecting private businesses in 2019 is ASC 606, Revenue Recognition. Danielle Moga provided the insights below about what ASC really means to you. She is an associate of Barker Associates with a wide variety of accounting and finance experience with non-profit and public companies. ASC 606 What it Means to Private… | Read the full article »
If you are a regular reader of my emails and blog posts, you know that I am passionate about companies having the right financial infrastructure to operate their business. Real costs are eroding your bottom line when you don’t have a handle on people, procedures, and process. Consider the cost of these infrastructure “fails”: Little… | Read the full article »
My first CFO job was working for a relatively small organization with an administrative assistant who still used a typewriter and refused to have a computer on her desk. She had been with the company since its origination and she knew where everything was located. She had all the contracts, historical Board reports and legal… | Read the full article »
When you scale you need to have a more analytical approach of targeting and segmentation, but in the beginning, it’s more much qualitative. (Pavel Malos 6/11/18, uxdesign.cc) Chief Executive Officers, Board Members, and Investors have a fiscal responsibility to ensure an organization can handle planned growth. For-profit business leaders must back up the strategy with… | Read the full article »
Most founders and CEOs are certain their business is a good investment and that others should see it that way. Unfortunately, that is not the case in a high number of instances when we dive deeper into the aspects of a company. We each have a unique set of characteristics that drives us and puts… | Read the full article »
I am excited to announce the publication of my new book Pitching to Win: Strategies for Success! During my more 30 years of experience as a CFO and financial strategist, I have come across many businesses who do not understand the concept of financial readiness. This is particularly important if they are attempting to ready a company… | Read the full article »
C-level executives, particularly financial executives, historically have relied exclusively on their technical abilities and work ethic to advance up the corporate ladder, within the same organization. My father talks about when recruiters came to Georgia Tech in 1959 to discuss with upcoming graduates their potential future with the company, including their retirement plans. The expectation… | Read the full article »
Placing paper checks in the mail to vendors places your company at risk if you are placing them in the mail without Positive Pay. Why don’t you just play Russian roulette with a full chamber or ride a motorcycle without a helmet? That may seem a little over the top, but the paper check is… | Read the full article »