Financial Reporting

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 […]

Setting Standards: Business Models vs. Budgets vs. Forecasting Read More »

forecasting

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

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

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 »

QuickBooks Online vs. Xero: Comparing Accounting Software

Business Accounting Guides / By

Choosing the accounting software your company will use may seem like a low-stakes decision. However, this choice can impact your company in many surprising ways.  For many small business owners, there are two dominant providers to pick from – QuickBooks Online or Xero. There are many reasons that a company will choose to invest in

QuickBooks Online vs. Xero: Comparing Accounting Software Read More »

Traditional Bookkeeping Doesn’t Work Today

4 Comments / Accounting Strategies For Small Business / By

When asked, almost any successful business owner would agree that bookkeeping is a vital part of keeping their business running. As a small business owner yourself, you probably value keeping a detailed and accurate account of your business’ financial data, and you may even dabble in bookkeeping yourself if the need arises. Nearly half of

Traditional Bookkeeping Doesn’t Work Today Read More »

Small Business Financial Reporting and Analysis

3 Comments / General Accounting / By

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

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 »

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

General Accounting / By

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 »

The Essential KPIs Your Small Business Should Be Tracking in 2021

General Accounting / By

Don’t Drown in KPI lists – Here are 4 To Implement Today Most business owners have almost certainly heard the term “key performance indicators,” or KPIs. Small business KPIs are quick ways for owners to shortcut their financial statements and understand the health of their small business. What exactly are KPIs and why are they

The Essential KPIs Your Small Business Should Be Tracking in 2021 Read More »

Scroll to Top