One of the most challenging aspects of managing Accounts Receivable and Payable is ensuring that everything runs smoothly and efficiently. A well-organized approval system can expedite processes, thereby diminishing the likelihood of delays and other associated problems. Centralizing Invoice Approval When expediting the accounts payable process, the most crucial component is the centralization...
In some industries, stress testing is now mandated and is becoming formalized. In 2012 the Federal Reserve Board is requiring 31 U.S. bank holding companies with assets of more than $50 billion to submit capital plans and undergo stress testing under Comprehensive Capital Analysis and...
Operating a business entails many pressing concerns: marketing your product, finding a location, hiring competent staff, and establishing a customer base, to name a few. However, one of the most important areas—business insurance—is often also one of the most frequently overlooked. Business insurance is critical to the survival of any...
In today’s troubled economic climate, cost concerns are spreading throughout the business community. As worries increase about excess spending, many businesses are feeling increasingly apprehensive about hiring outside assistance. However, while the tendency is to look inward for solutions to any issues, this may not be the best course of...
If there is one thing Americans across the political spectrum can agree on these days, it is that they are fed up with the bombast, posturing and fecklessness of Washington lawmakers. Furthermore, they are disgusted by the sleazy behaviors, unethical dealings and even outright corruption...
Becoming a publicly-held company offers the owners of a private company the potential for substantial benefits. These include the ability to raise new capital for more rapid growth and to broaden ownership beyond the current owners. The process can also be used as an exit strategy for the founders...
In the business world, the buck stops in the C-suite. It is here that the tough decisions must be made – including decisions about when it’s time to pull the plug on a promising project; when it’s necessary to rationalize a company’s footprint or downsize...
What is strategic planning? Strategic planning is the process in which an organization examines and analyzes its resources and defines a path for the near future. In other words, strategic planning is sitting down with a group of people who have different roles in an organization and mapping out where...
International Financial Reporting Standards (IFRS) have been at the forefront of discourse for the past several years, as the Securities and Exchange Commission (SEC) continues to bat around the notion of converting U.S. practices over from Generally Accepted Accounting Principles (GAAP). The conversion has been pushed back repeatedly over the...
Operational analysis is conducted in order to understand and develop operational processes. Using various mathematical models, statistical analyses, and logical reasoning methods, operational analysis aims to determine whether each area of the organization is contributing effectively to overall performance and the furthering of company strategy. Most notably, operational analysis...