Instant rice and online banking have a lot in common. Instant rice is obviously quick, providing you with an immediate result. It works really well for casserole recipes or for certain dishes where rice and other ingredients are mixed together. But if you are serving dinner guests or in a fine restaurant, you expect the… | Read the full article »
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Countless Americans seem to have an insatiable desire for immediate gratification. This drive for gratification has led to an increase in “on-demand” start-ups, such as Uber, one that is frequently in the news these days. These start-ups address needs such as transportation, food, entertainment and beauty treatments. The short-term euphoria derived from the instant gratification… | Read the full article »
Test Your Financial IQ – Eight Essential Characteristics of Financial Brilliance for Nonprofit Leaders
Nonprofit leaders often make decisions about adding structure, enhancing staff expertise, or conducting advanced planning in response to a risk situation, or, as an afterthought. Savvy leaders recognize the need to make periodic adjustments to processes, staff and technology resources if they want to stay on the path to financial brilliance. Donors have many… | Read the full article »
As the CEO or CFO of your organization, when was the last time you looked at the commission payout to your lead sales staff? While you were razor-focused on increasing sales, did you also consider the full impact of the commission dollar in developing and executing the company sales plan? The difference between an… | Read the full article »
Sunday began the week with the Holiday of Love – St. Valentine’s Day. How do love and emotions influence our decisions about business and investing? Many people have used the services or read about a Unicorn or a Unicorn “wanna be” without even knowing it. Fortune.com defines a Unicorn as a once mythical, now… | Read the full article »
Each month end, financial reporting packages are prepared in companies across the nation and promptly filed…somewhere. In most cases, the accounting team has prepared these analyses and turned them over to a senior leadership team who really does not understand how to use them to run the business. Reams of paper reports stand in piles,… | Read the full article »
The entrepreneurial community tends to speak to investors and stakeholders about the value of their business based on revenue and revenue growth. When an investor begins to ask about gross profit, net profit or EBITDA, often the business owner makes a face similar to when you have caught a teenager in a fib. Revenue produces… | Read the full article »
As a cost center owner, have you found yourself being asked to approve expenses, but you have no clue where they came from? You know you have a budget, but do you truly understand how it was developed or how you are supposed to work with it on a daily, monthly, quarterly and annual basis?… | Read the full article »
Why is Preparing a Budget Without a Balance Sheet and Cash Flow Like Driving a Car in a New City with an Old GPS?
Cars built in the early 2000s that had a built-n GPS required periodic updates using a CD with new roads and street addresses. If you are still driving around with a GPS of that era, you already know that when you get to a new construction area, the GPS will confuse you more than help you… | Read the full article »
As a business owner, do you have timely information to run your business? Or do you feel like you are in jail, lacking the freedom to run your business with financial clarity? I admit it – we accountants can be very black and white. Some accountants feel the need to turn the month end close… | Read the full article »