See Also: Reducing Your Cash Conversion Cycle Key Performance Indicators (KPI’s) Accounting Principles 1, 2, and 3 Accounting Principles 5, 6, and 7 Continuous Accounting: The New Age of Accounting Continuous Accounting is the new age of accounting. It provides a more efficient way to review financial performance in a real-time automated process, and a trustworthy, repeatable accounting cycle
Oftentimes, CEOs don’t see the value in a CFO… They ask “how does a CFO add value?” After hearing that countless times, I want to let you on a little hint. A good CFO improves profitability and cash flow 1-2% of sales. A few months ago, I was meeting with a young man named Nathan who was
Whether times are good or bad, one task that companies still must undertake is projecting revenue. The tougher the times, the more important these forecasts become. When projecting revenue, it’s important to remember that your customer base is likely worldwide. Consequently, you must consider what type of economy your customer is operating in to accurately
Cash is king. A company must have a positive cash flow to stay afloat. Particularly in an economic downturn, our clients struggle to maintain a positive cash flow when sales are down. Fortunately, there are several metrics that you can use to monitor and improve your cash flow.One of the conversations we’ve begun to hear
Do you need to take an umbrella to work today? Without a trusty weather app or friendly meteorologist, it would be difficult to know the answer. Fortunately, you probably have one of these tools to help you make an informed decision. The CFO/Controller is the meteorologist for the business. It’s your job to help the company decide when, and if,
The Institute of Fiscal Studies authored a study on tax systems in the UK called “Tax by Design: Mirrlees Review.” They concluded that “in the long-run, the tax system should be judged in part on its impact on the sustainable growth rate of the economy… viewing efficiency in a dynamic as well as static sense.” As we
Ever heard the term “margin compression”? Put simply, margin compression occurs when the costs to make a product or deliver a service rise faster than the sales price of the product or service. Hence, putting pressure on profit margins. Causes of Margin Compression There may be many causes of margin compression… Increased competition Internal production
Ready or not, it’s time to start the process of preparing your 2016 forecast. While it may seem a bit premature, a walk down the aisle of your favorite home improvement store to check out their (already) prominently featured holiday displays tells the story. Some of this can definitely be attributed to overzealousness to capture the consumer’s holiday
See Also: How Does a CFO Bring Value to a Company? Chief Financial Officer (CFO) Controller vs CFO Adding Value as a Financial Leader Role of a Company Back Office The Role of the CFO (Chief Financial Officer) The role of the CFO (Chief Financial Officer) has been changing over the past twenty years. Originally,
You’ve probably heard the term KPI (short for Key Performance Indicator) thrown around before. You may have even considered using KPIs to manage your business. Before setting out on the path of developing and tracking your company’s KPIs, let’s first take a look at what KPIs are and why KPIs are important… According to Investopedia,
When we start a consulting engagement with a new client, one of the first tools we implement is the Daily Cash Report. While the concept is simple, the results can be very powerful. If you’ve ever realized on Thursday afternoon that you don’t have enough cash for Friday’s payroll, then you know exactly what I
The end of the first quarter of 2015 is approaching, and quarterly debt covenant compliance certificates are coming due. If your business is like many in our area, this thought probably fills you with dread. With so many businesses in Houston tied to the energy industry, the effects of the free fall in oil prices
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