General Accounting Archives

Why Bookkeeping Fails – Forecasting: The Future Is More Important Than the Past

For many small business owners, accounting can be intimidating. Many owners are strong with numbers and record keeping, but few are financial professionals. Concepts like enhanced bookkeeping or cash flow management can seem difficult and unapproachable. Financial forecasting, in particular, can conjure up feelings of dread for business owners. But, as the saying goes, ignoring […]

Why Bookkeeping Fails – Forecasting: The Future Is More Important Than the Past Read More »

A Small Business Budget: Examples and Tips

General Accounting / By Matt Krieger

If you don’t have a budget for your small business, don’t worry. You’re not alone. In fact, half of small businesses run without a budget. Why? Because many business owners suspect that even if they make a budget, they won’t be able to stick to it and it will be a waste of time. Fortunately,

A Small Business Budget: Examples and Tips Read More »

Small Business Financial Reporting and Analysis

3 Comments / General Accounting / By Matt Krieger

What is Financial Reporting and Analysis? When people ask me this question, there are a few metaphors that I could use to describe financial reporting. Sometimes, I will explain financial reports as your company’s report card, while at other times, I will describe it as the roadmap. I particularly like the roadmap metaphor for financial

Small Business Financial Reporting and Analysis Read More »

Measuring Sales Channel Profitability for Food Manufacturers

General Accounting / By Matt Krieger

As a small to medium-sized business owner, you are probably aware that opening a new sales channel can be an exciting process: New sales channels can mean accelerated growth and increased revenue, and the idea of reaching new customers is understandably appealing to business owners. What you might not be aware of, though, is how

Measuring Sales Channel Profitability for Food Manufacturers Read More »

Financial Coaching for Franchisees

General Accounting / By Matt Krieger

As a franchisor, you are probably aware that new franchisees can often require a bit of coaching. What you might not be aware of, though, is how critical that coaching can be: Every year, hundreds of new franchises fail, and many of those failures can be attributed to a franchisee’s lack of financial understanding. In

Financial Coaching for Franchisees Read More »

What is Cash Burn and Why Is It Important?

1 Comment / General Accounting / By Matt Krieger

As a business owner you are aware that operating your business requires cash. Stocking inventory, financing payroll, and purchasing new equipment, among other things, require a healthy reserve of cash. In fact, almost a third of all new companies that fail do so because they run out of operating cash. Most of these companies failed to

What is Cash Burn and Why Is It Important? Read More »

Raising Capital for Your Business

1 Comment / General Accounting / By Matt Krieger

Time To Raise Capital? How Much Should You Raise The prospect of fundraising is understandably exciting to business owners. An injection of equity capital can mean explosive growth and the ability to break into new markets, among other things. As a business owner, you have probably imagined a best-case scenario where you had enough capital

Raising Capital for Your Business Read More »

What is a Cap Table and Why is it Important?

2 Comments / General Accounting / By Matt Krieger

You are probably aware of the analogy that compares business ownership to pieces of a pie: The ownership of modern small and medium-sized businesses is often divided among investors, founders, employees and management, among other parties. Each of these parties owns a piece of the company’s pie, as the analogy goes. How can a business

What is a Cap Table and Why is it Important? Read More »

The Role of a CFO in Franchise Sales

General Accounting / By Matt Krieger

Opening a franchise is a significant decision and one that involves a certain amount of risk. The legal relationship between franchisors and the franchisees is also complex, and involves many difficult legal and financial concepts. Often, prospective franchise buyers are overwhelmed by the recruitment process or turned off by financial concepts that can seem like

The Role of a CFO in Franchise Sales Read More »

How Virtual Controllers Can Create Value for Small Business Owners in 2021 and Beyond

General Accounting / By Matt Krieger

While the sea change of COVID-19 has affected nearly all sectors of the economy, it has been especially impactful to small and medium-sized businesses: According to a survey from Goldman Sachs 10,000 Small Businesses Program, nearly 2/3rds of small businesses have responded to the pandemic by pivoting to new revenue sources or adapting to different

How Virtual Controllers Can Create Value for Small Business Owners in 2021 and Beyond Read More »