Nothing in this email is intended to denigrate my CPA friends or the CPA community as a whole. That said, if you work as an accountant in a company and are given AJEs or RJEs by your outside CPA you …
Whether you are an individual, a professional services firm that sells their time, a manufacturing firm, construction company, processing plant, or virtually any other kind of business that I can think of, you need some way to measure your efficiency. …
I am currently working on presenting an analysis of spending over various categories, time periods, and numerous items that are inconsistent from year to year. Fortunately, we have a substantial amount of detail. Sometimes a lack of detail is the …
At one of my clients a number of items that we have been trying to simplify for some time have recently come together. The difference on the administrative side is amazing. We operate with very light staff levels yet we …
About a month ago I read an article about a company that sought protection under Chapter 11 bankruptcy laws for a “clerical error”. As they say: “You just can’t make this stuff up.” The headline actually blamed it on tax …
What are your accounts receivable worth? Almost every business has Accounts Receivable (AR) that are older than they would like. Managing them can be a difficult process. To start, management has to be honest with themselves about the value of …
Some years ago, I was offered an opportunity to join a well funded start-up company. As part of my due diligence I read the business plan and shared it with a trusted advisor to help me evaluate the company. We …
I am constantly amazed at the number of people who can’t or don’t distinguish between accounting and financial management. It’s no surprise, I guess! Even in big companies, the terms “accountingandfinance” are often run together as if they are one …
Last Month, I discussed organizations that were “avoiding profits” by avoiding conflict. While there are some that thrive on conflict, I think it’s fair to say that most people prefer to avoid it. However, business conflict doesn’t have to be …
Last Month, I promised to write about “profit”. The term profit, according to www.dictionary.com is the “gain resulting from the employment of capital”. The key to this definition is “capital”. The term profit the amount earned on the capital deployed …
