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Category: Financial Planning
Accounting

New Year … New Money Mindset

As we begin the transition from one year to the next, we inevitably find ourselves looking at things with a renewed perspective. We tend to think about both all that we are grateful for and all that can be improved upon. And for many business owners, one area of improvement relates to their mindset surrounding money. With another tax season just on the horizon, it is even more of a priority to shift the historically negative money mindset of business owners and begin to have the conversations that matter most when it comes to their financials.

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Accounting

Celebrating a Decade of Financial Empowerment

As we mark our 10th year in business, it’s impossible not to reflect on the incredible journey that has brought us to this milestone. We are well aware that celebrating a decade in business is a significant achievement, especially given the fact that nearly 80% of businesses don’t make it past the five-year mark. So, on this momentous occasion, we want to take the opportunity to express our heartfelt gratitude to all our clients—many of whom have been with us nearly every step of the way. We know that we wouldn’t be here without your trust, support, and unwavering partnership.

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Accounting

Closing the Fourth Quarter Strong

It’s that time of year again. Yes, the holidays are nearly upon us, but so is the closing of the fourth quarter. And while closing every quarter is important to the financial success of a business, closing the fourth quarter accurately is even more critical. Not only does it represent the final stretch of the fiscal year, but it also sets the tone for the year ahead. Further, as the fourth quarter encompasses the busy holiday shopping season, many companies (not limited to retail) see significant boosts in revenue during this time.

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Accounting

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.

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Accounting

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.

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Accounting

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.

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Accounting

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.

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CFO Services

The CFO’s Role in a Down Economy

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.

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CFO Services

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.

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Agile Planners - Business & Tech Consulting Services

Helping entrepreneurs, and small to mid-sized businesses tap into the power of financial strategy and technology to run their business more efficiently and profitably…

WBENC
Certified CFO from The CFO Project

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