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The Accounting Industry and AI

Artificial Intelligence (AI) is a phrase that is heard regularly in our technologically advanced world. Whether you are working in tech, accounting, health, or any other industry, you have likely heard all about it by now. That’s because while AI has been around for some time, organizations are just recently starting to explore how it can benefit them in their own industries. The ability to streamline work and create a more efficient and profitable workforce is one of the primary reasons organizations are incorporating AI into day-to-day operations, including finance.

September 22, 2023

Maximizing Your Extension

For business owners, staying organized with financials is about more than spreadsheets lining up nicely or thoroughly reconciled accounts (although both are important). It’s about the crucial role organized bookkeeping plays in the actual tax filing process. Simply, organized records both save time and reduce errors during tax preparation. For those who filed an extension this year, this means getting organized now, as those due dates are quickly approaching.

August 25, 2023

Beyond the Financial Statements

When we think of financial reporting, our minds tend to drift automatically to the preparation of the three primary financial statements—the income statement (also known as the profit and loss statement or P&L), the balance sheet, and the cash flow statement. And while these statements provide incredibly valuable insights into different aspects of the company’s financial health, financial reporting is about much more than the numbers on these three documents.

July 20, 2023

Cash Flow vs. Profitability: Similar Financial Story, Different Chapters

With all the turbulence in the economy over the past several years, there have been increasing discussions about our impending down economy. Experts are seeing us head toward (or already in) a period of economic contraction or decline. After all, down economies are typically marked by various negative indicators, including reduced economic growth, decreased consumer spending, rising unemployment rates, a decline in business activity, and rapidly declining stock markets, and aren’t we seeing much of that already? The end result, unfortunately, is often associated with an economic recession.

June 21, 2023

The CFO’s Role in a Down Economy

May 25, 2023

The Top Three Ways a Fractional CFO Can Help in Times of Economic Uncertainty

Navigating the economic uncertainty we are facing has been like navigating a river’s tumultuous rapids—twists and turns that blind you from seeing what is coming next, with the constant threat of a dangerous impending drop up ahead.

April 21, 2023

Beyond the Profit and Loss Statement – Part 2

Last month, we took a deep dive into the revenue portion of the profit and loss statement (P&L), but that is only half the equation (pun intended). As discussed, revenue is always where any financial analysis should begin because business owners and CFOs need to know how much money is coming in before they can start looking elsewhere. But a close second is then understanding how much money is going out of the business.

March 22, 2023

Beyond the Profit and Loss Statement – Part 1

It’s not uncommon that a business owner thinks they have an understanding of their financials because they vaguely know the numbers on their profit and loss statement (P&L). And while, yes, that’s a great start, it’s not enough to truly understand what’s behind the numbers generated neatly on that common—and crucial—financial report. How did the numbers get there? What do they really mean?

February 28, 2023

Financial Review: How to be proactive in 2023

Being proactive is one of the fundamental keys in business. “Acting in anticipation of future problems, needs, or changes,” as the definition of the term tells us, is crucial for any business owner. We shouldn’t sit idly by and wait for something to occur in order to prepare an appropriate (or at stressful times, an inappropriate) response. While those situations may be unavoidable from time to time, most often, they’re not … when we’re appropriately anticipating them.

February 23, 2023

2022 Reflections … FynOps Successfully Completes Techstars Accelerator

December always seems like an appropriate time for reflection. As we close out one year and look optimistically to the next, we can’t help but consider how we got here to plan where we’re going. For us, as we reflect on the past twelve months, we are incredibly thankful for all our clients, strategic partners, and the incredible opportunities that presented themselves to us.

December 22, 2022

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