It can be a cause of dread, confusion and even panic for many entrepreneurs. A trusted, tenured and essential financial person in your business just quit. You will replace them, but do you know exactly what you are looking for? And how difficult a transition might be?… Read More

As you’re studying your monthly financials and preparing for year-end reporting, and you find that your financials are not depicting the business narrative you know to be true, it could be a sign of bad accounting. Here are some best practices for reviewing your P&L and determining if there is an opportunity to enhance the accounting practices: Revenue If you’re having a great month and selling a ton of services or inventory, but revenue is not telling the same story, it’s likely revenue is not recorded in the proper period on your financials.… Read More

Accounting and finance are two commonly used words to describe functions within businesses. Let’s look at what they mean to small and mid-size businesses, some key differences between them and reasons why both are essential for long term success. The most important point however for any small and mid-size business is a solid, intentional balance between the two.… Read More