Accounting

Unlock the Potential of Buy-Sell Agreements and Estate Taxes with Premium Financing As a professional in the premium financing life insurance industry, staying informed about the strategies that can benefit your clients the most is crucial. One such strategy is premium financing, a powerful tool for paying estate taxes and fund buy-sell agreements. Join us…

By Jeffrey Appleman Manufacturers are focused on sales—not cost or profit. If they were keen on net income, manufacturers would know one key data point: contribution margin. Once you know it, the possibilities are endless for growth, sustainability and efficiency. In effect, a contribution margin is the percentage of revenue that remains after you pay…

By Tim Jung As CFO, you have 60 months before the private equity firm sells your company again. And the newly installed CEO doesn’t like the company’s reports. Maybe the reporting isn’t timely or lacks the right numbers. Maybe it doesn’t tell a story from the progress that has been made, how you’re going to…

By Eric Segal The banking landscape has consolidated in the last three years. Maybe it was runaway inflation that caused cost-cutting branch closings. Or it was bigger banks gobbling smaller banks for quick market share. And let’s not forget the industry’s ongoing march toward digital transformation, which grabs more traction each month. Whatever the cause,…

By Chris Delaney When it comes to managing their business, manufacturers need much more than historical financials to project their future revenue, profitability and liquidity. Historic numbers simply capture what has happened in the past—but traditionally do a poor job predicting where a company will be in the near (3-6 months) or distant future (1-2…

By Tim Jung A private equity firm just bought your promising firm with high hopes. You estimate that the company will be sold again for a much higher margin within 60 months. But your finance team has trouble closing the books in a timely manner. So, what does the company’s financial picture look like? You…

By Paul Karr There is a common misconception that accounting policy is something that controllers can do in their spare time. Midsize firms especially can fall into the same trap: We’ve always had a small team, and everyone has to complete a lot of work, and we can’t afford another resource. Your controller already has…

Every business owner dreams of selling their business one day for a lot of money then retiring with a home on the beach or traveling the world. However, when it comes to actually selling the business, many business owners don’t follow a unified strategy, leaving them confused and frustrated because they realize running a business is…

By Tom Aiken While more companies transact and store their business off premises, SaaS companies have seen a run up in their valuations. Since 2015, the SaaS market continues to grow—18% annually—while 99% of organizations are using at least one cloud solution to drive demand. From an investor perspective, SaaS companies provide a dependable revenue…

A major theme of this edition of ProfitSense was accounting, as host Bill McDermott welcomed two CPAs, Bradley Carroll, CFO of Progressive Lighting, and Gary Clayton, CFO of Superior Business Management. Bradley discussed his move from a CPA firm to in-house practitioner, the significant problems associated with logistics and sourcing products internationally, and more. Topics Gary addressed…

Every business owner has a big vision for their company and wants to make it happen. However, most don’t follow a unified strategy to get there. Leaders often have trouble pulling the trigger on spending money on people or new strategies because they don’t understand what their numbers are telling them. Many business owners haven’t fully appreciated accounting…

By Allan Tepper Companies need about three months to receive a clean opinion for their annual audit. So why does your company need more time? Expending too much time and money on your annual audit is a red flag for the executives involved with corporate governance and financial oversight. New accounting rules and regulatory changes…

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Last March, a federal judge ruled The Minority Business Development Agency (MBDA) was discriminating on the basis of race by only offering grants to minority-owned businesses. This ruling is one in a string of recent court decisions that have declared race-based preference systems illegal. As the crusade to gut affirmative action continues, challenges to employers’…

“Conflicts look bad. I always prepare touchy agenda points with my 2 senior leaders before leadership team meetings. This way senior leadership presents a united front,” recently mentioned the CEO of a 200-people company. Most leadership teams have too few open, healthy conflicts. This makes them less effective, reduces decision quality, and ultimately slows down business…

I wrote earlier about the value a closed loop employee suggestion program can provide. These do provide significant benefits, but there is no need to limit continuous improvement suggestions to those inside the company. Customer and supplier surveys can provide great insights into such opportunities while also enabling the company to collaborate better with key…

During my first visit to one factory, I quickly noticed on a wall in the lobby a collection of cards with employee suggestions – normally a good sign of a facility’s commitment to continuous improvement and employee engagement. A closer look revealed the opposite – improvement ideas that were months and even quarters old without…

Wealth managers and financial industry observers have pointed out that we are in the midst of a great wealth transfer driven by Baby Boomers. As Boomers (the generation born between 1946 and 1964) have aged, the savings and investments they worked hard to accumulate are now passing via inheritance to younger generations. Yet, what happens…

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