Accounting Strategies For Small Business

Take ideas and strategies that you think might only apply to bigger companies, and relate them to small businesses.

Small Business Accounting in 2024: Outsourcing and Tech Strategies to Beat the Shortage

Accounting Strategies For Small Business / By

In the rapidly evolving landscape of small business entrepreneurship, a concerning trend around the accounting profession has emerged. The lack of accounting talent available signals potential challenges ahead for small business owners. A recent report from the American Institute of CPAs reveals a sharp decline in students earning U.S. post-secondary accounting degrees. In the 2021-22 […]

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AI In Accounting and Finance

Accounting Strategies For Small Business / By

In the dynamic world of small business, the emergence of AI within accounting and finance could revolutionize how owners manage and strategize financial operations. As a small business CFO, navigating this new terrain of AI-driven financial management can be both exhilarating and challenging.  However, while the potential is intriguing and exciting, AI solutions currently fall

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Setting Standards: Business Models vs. Budgets vs. Forecasting

Accounting Strategies For Small Business, Small Business Cash Flow Management / By

As an outsourced CFO serving 12-15 different businesses, I’ve delved deep into the realm of budgeting and forecasting. Over time, I’ve come to believe that traditional budgeting has taken a backseat, with rolling 12-month forecasts becoming the preferred financial tool for businesses. This tool not only provides future insights but also sets a standard for

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Mid-Year Financial Goals Check: Reviewing Budget vs Actual 

Accounting Strategies For Small Business, Small Business Financial Reporting / By

Just about every business has goals, whether they’re informal targets or the product of a more formal plan. But just as important as setting the right goals is monitoring your organization’s progress, including a comparison of budget vs actual revenue and expenses.  Let’s look closer at how to properly conduct these vital reviews and why

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Accounting Software to Save Small Business Owner Time

Accounting Strategies For Small Business, General Accounting / By

In today’s fast-paced business world, time is of the essence. For small business owners, managing accounting tasks can be time-consuming and overwhelming. However, with the right tools and accounting software add-ons, owners can streamline their financial processes and save valuable time. Most small business owners don’t spend enough time with their small business accounting software

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The Cash Cushion Sweet Spot: The Right Amount of Cash Reserves for Your Small Business

General Accounting, Small Business Cash Flow Management / By

Determining the Right Cash Reserves for Your Small Business: Insights from a CFO Running out of cash can spell disaster for a business. But hoarding too much can be a waste. So, how much is just right? In this article, I tackle the crucial question most frequently asked by current and prospective clients: How much

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What Netflix Can Teach Small Business Owners

Accounting Strategies For Small Business / By

In college, my two favorite classes were Business Cases and Financial Cases.  We would get one week to dissect a large business and determine an optimal path forward for a situation they would find themselves in.  I loved this because larger businesses offer a massive amount of data typically not available for small businesses.  During

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Determining Financial Feasibility For Your Small Business

Accounting Strategies For Small Business / By

So you want to set out on your small business adventure. Where do you start? Do you start by buying supplies or prototypes? Do you start by collecting a list of investors who can kick-start the project? No! Your first step should be to ensure your potential business model will be financially feasible. Only once

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10 Ways A Pricing Strategy Advisor Can Benefit Your Business Right Now

Accounting Strategies For Small Business / By

Pricing a product or service is perhaps one of the most critical decisions a business owner will ever make.  However, very few business owners have the background to feel comfortable with these skills.  When you started your business, you had a vision. This vision probably included the size of the company you wanted, the type

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