Recent posts discussed new regulations and the unintended consequences that companies are, or will experience as a result. ASC 606, already in effect for public organizations, affects nonpublic companies for annual reporting periods beginning after December 2018. The South Dakota vs Wayfair ruling last year has impactful implications for businesses who qualify to pay sales… | Read the full article »
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It is the first month of the calendar year and for many, the start of the fiscal year as well. The first month for you to start measuring the results you assuredly planned and documented in a budget for the year. Each of you has a different relationship with your budget. Each of the… | Read the full article »
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 »
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 »