General Accounting

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

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 to Expect from your Virtual CFO

General Accounting / By Matt Krieger

Check Out The Video An Introduction Starting and keeping a small business afloat is no small task. In most cases, you may lack experience in the financial and strategic processes involved in running a business. This can have you thinking you need a large accounting department to run things smoothly, but that’s not the case.

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The Best Approach For Conducting Market Research

General Accounting / By Matt Krieger

No matter your background, market research is key to any successful business venture. Today starting a business is easier then it has ever been. Nevertheless, those looking for long-term success must have a sound approach to information gathering. Maybe you are fresh out of business school, maybe you are a retiree who finally has the

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Financial Dashboards and Scorecards for Small Business Owners

General Accounting, Small Business Financial Reporting / By Matt Krieger

How far would you get into a road trip without your speedometer, gas gauge, map, or GPS? Likely not very far. So why are you still running your small business without a financial dashboard? I am not the first person to equate the financial dashboard to the dashboard of a car, but it is a

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

2 Comments / Accounting Strategies For Small Business, General Accounting / By Matt Krieger

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

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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,

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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

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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

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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

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What is Cash Burn and Why Is It Important?

1 Comment / General Accounting / By Matt Krieger

As a business owner you’re already 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

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