A Record Breaking Day
Today is officially the first day of summer, which also means it is the longest day of the year. We will have approximately 15 hours of daylight. What are you going to do today to make sure you get the most out of your day?
Embezzlement & Fraud: Is it Happening In Your Business?
Working with a lot of small businesses we have a good understanding how they handle the accounting and finance functions within their business. They have limited resources which makes most of the invoicing, bill paying, bank reconciliations, cash handling, and payroll processing handled by one, or maybe two people at most. Unfortunately, the lack of […]
Fraud Prevention through Open Communication
As a 30 year veteran in the commercial finance business, I‘ve been a victim of fraud numerous times. Some of the perpetrators were intent on cheating from the start. In most cases, however, circumstances put people under heavy pressure and, in desperation, they resorted to fraud.
Are You Worth $15/per hour? Getting Maximum Value Out of YOUR Time
Focusing on high value priorities, not firefighting, will free you from the mundane, and maximize your value. One of the things I we see quite frequently with small business owners — particularly those that have experienced slow but steady growth — is over-involvement in non-value adding activities — or at least non-value MAXIMIZING activities. Case […]
Cash-Flow Plumbing- Fix the Leaks
Why do you fix a leaky faucet at home? Because for most of us we realize it’s money down the drain. The same goes for a business, but unlike the constant dripping sound we hear at home, most business owners are not aware of their cash-flow leaks that can be costing thousands of dollars. Leaks […]
When the Numbers Really Do Matter
Often as CFO consultants we come upon business situations that just don’t add up. We look at the mess someone got himself or herself into and we just shake our heads in disbelief that they didn’t take time to fully evaluate a project based on proper financial considerations. There were little or no financial goals, […]
The Real Deal – Taking Vendor Cash Discounts
If you’re not taking advantage of vendor cash discounts you may be passing up significant costs savings opportunities. At first glance, cash discounts look like small insignificant amounts, but when you calculate the effective annual interest rate, these can be eye popping numbers. We’ve put together the Vendor Cash Discount table below that calculates the […]
Join Us on St. Partick’s Day!
Join Us on St. Patrick’s Day! St. Patrick’s Day is this Friday- who needs a better excuse to get out of the office and have some fun? There is no better way to celebrate than with great music and green beer. Come join us at the Hamlin Pub in Shelby Township with entertainment from the […]
The Story Behind the Numbers
As contract CFOs, we often meet business owners who view accounting as just another cost of doing business – a non-revenue generating function necessary for compliance and paying taxes. What they fail to realize is the real strategic value in learning the “story behind the numbers,” and it does not have to be a mystery novel.
Budgeting? any road won’t get you there
There is a quote from Alice in Wonderland: “If you don’t know where you’re going, any road will get you there.” Unfortunately, this is often the approach business owners take when it comes to business planning or budgeting.