Chief Financial Officers (CFOs) must master more than cash flow and revenue models. They must be strategic partners in the business. According to IBM’s Global CFO Study, there is a growing gap between the importance of financial responsibilities and broader strategic questions that affect a company’s long-term success. The importance of integrating information has more than […]
Five Ways to Accelerate Cash Flow Read More »
One of the best ways to monitor your company’s financial health and to increase its profitability is to use Key Performance Indicators (KPI). Benefits of Key Performance Indicators Stockholders, investors, customers and competitors use financial data to measure the profitability and sustainability of your business model. Make sure your critical financial key performance indicators are
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All employees in your company need to understand what is expected of them and how their success will be measured from the first day of their employment. A job description fulfills this requirement like no other employment tool. It guides the hiring, ongoing evaluation and potential termination of each employee no matter what position they
Seven Components of a Clearly Written Job Description Read More »
Many of America’s twenty-eight million small business owners are either very late in planning for the transition of their companies or have no plan at all. It is not just small businesses that have this challenge. Thirty-five percent of Fortune five-hundred organizations are private or public companies controlled by a small group of different families.
Business Succession Planning Read More »
Cost Accounting is a great tool to be used for both product and service type businesses. It is the process of collecting, analyzing and summarizing data to be used in evaluating various alternative courses of action. The system involves the recording of all the costs incurred in a business in a way that can be
Using Cost Accounting to Make Sound Business Decisions Read More »
A study by the Federal Reserve Bank of Boston found that seventy percent of U.S. workers are either “not engaged” or “actively disengaged” in their work. This represents an estimated $450 to $550 Billion loss in productivity each year. Four main ingredients go into increasing employee engagement according to the article “Employee Engagement and Corporate
Employee Engagement Drives Profitability Read More »
Since tax returns are on many business owners mind and the filing dates are quickly approaching we decided to discuss tax deductions that may apply to your business. If you are a small business owners and qualify to take advantage of these deductions listed below you could exceed $513,000 for the 2013 tax year using
10 Ways for Small Business to Deduct Over $513,150 Read More »
The “Accounting Class Action Filings and Settlements” report by Cornerstone Research shows allegations of accounting cases involving fraud has surged forty-seven percent in securities class action lawsuits since 2013. This includes a forty-six percent increase in enforcement cases brought by the Securities Exchange Commission (SEC) for the 2013-2014 fiscal year. An “accounting case” refers to
Accounting Fraud Cases Have Risen Dramatically Read More »
Which business decisions should be part of a Strategic Plan and which should not? In the article “How to Tell which Decisions are Strategic” in the U. C. Berkeley Haas School of Business California Management Review, “whether a decision is strategic or non-strategic depends on how a decision ranks along two dimensions: its influence on
Which Business Decisions are Strategic? Read More »
In a joint study conducted by Organizational Behavior Professor Jeffery Pfeffer and Professor Stefanos Zenios of the Stanford Graduate School of Business along with Professor Joel Goh of the Harvard Business School, it was found that companies must manage the health of their workforce in order to control their health care costs and remain profitable.
Benefits of Increasing Employee Loyalty Read More »
U. C. Berkeley Haas School of Business California Management Review issued a call for research papers on the following topic: In a global economy where market information is available rapidly and inexpensively, how should executives think about decision processes, positioning, market entry, resource allocation, new strategic initiatives, innovation and strategy execution? The strategy an organization
Business Growth Strategies for a Global Economy Read More »
Outsourcing is the process of delegating specific operations to a company outside of your business to capitalize on benefits that were previously not available. A “highly detailed thirty page study on the evolution of outsourcing” concluded that the number one area [that needed] improvement for firms that outsourced specific operations was the “monitoring and managing
Benefits of Outsourcing Accounting Operations Read More »