“Honesty is the best policy.” If you’re like me, your parents taught you this when you were young, and you may have tried your best to put it into practice throughout your life — in both your personal and business dealings. In fact, noted author and motivational speaker Zig...
As hard as they might try to plan and prepare, most organizations occasionally experience situations that could be described as chaotic. This includes the finance department, where the busyness of the end of the quarter or the year can present unique challenges to financial staff and leadership. Finance leaders need...
Businesses have three main options available to them when it comes to raising business capital: debt, equity and retained earnings. There are many different factors that go into how owners and CEOs choose from among these options when structuring capital, including the hurdle rate, internal rate of return (IRR),...
It’s not uncommon for owners and CEOs of mid-sized businesses to set a goal of going public at some point in the future. The allure of an initial public offering (or IPO) can be strong: Going public may represent the chance to cash in on a lifetime of...
There’s an old saying in business that “a sale isn’t a sale until you get paid.” This reflects the fact that while sales are certainly nice, credit and collections are just as important to a company’s long-term financial success. In fact, an argument could be made that credit and...
Some small and mid-sized firms do business with a variety of vendors that provide a wide range of different services — from mailing and fulfillment to printing, production and graphic design. As such, the money that these businesses spend on vendor services can really add up over time and...
As we near the midpoint of 2017, both the business and economic environments in the U.S. remain relatively healthy and strong. This is reflected in the high levels of optimism among small business owners. The most recent National Federation of Independent Business Index of Small Business Optimism stood at...
One common way for new businesses to raise startup capital is to conduct rounds of financing among angel investors, venture capitalists and high net worth individuals. This is often preferable to trying to obtain a bank loan because banks are usually hesitant to lend money to startup firms that...
It’s critical that manufacturers, wholesalers and retailers know how to manage inventory, as well as understand the LIFO vs. FIFO inventory valuation methods. If you’re a manufacturer, your inventory is raw materials, work-in-progress and finished goods, and if you’re a wholesaler or retailer, your inventory is only finished goods. Your inventory...
In certain scenarios, organizations must transition accounting duties to another entity. For example, the company might be going through a merger or acquisition, or it might be outsourcing accounting duties to a third-party accounting services provider. When this occurs, extreme care must be taken as the accounting duties are transitioned....