When was the last time you jumped in the car to head for a new destination — without a GPS by your side? Does 10 years sound about right? Perhaps longer! Your GPS has become indispensable. It plots the fastest course and helps you steer clear of...
Ask any small business owner what a budget is and they will likely respond with something like this: a financial plan for a firm's future that projects revenue and expenses. Ask them if they have one, however, and you may get a variety of excuses...
Gross profit is gross profit, right? The math is simple enough. To calculate gross profit: subtract the cost of goods sold from revenue of the same time period to yield your gross profit. To calculate gross profit margin, divide gross profit by your...
How long has it been since you last went on a road trip, or even to a new destination, and didn’t have an app on your phone (eg: Google Maps) to guide you, step-by-step, towards your goal? Five years? A decade? Maybe even longer. GPS and map apps...
One of the most powerful ways to monitor the operational health of SaaS companies is through SaaS dashboards. Dashboards bring together your most important SaaS KPIs and present them in a clear and concise way that allows for data-driven...
As operators, we know how many balls a small business owner needs to keep in the air. Sales, operations, crisis management, and the crucial yet often neglected realm - financial administration. This is where the services of a virtual CFO can prove...
When you're on a road trip, how often do you check the gauges on your car’s dashboard? Routinely, if you're like most people. Those indicators tell you important information like where you are in your journey, how you’re tracking relative to...
If you are a new business owner, you have undoubtedly already tackled many decisions regarding your company operations. However, one of the most impactful choices to make is whether you should use the cash or accrual accounting method. Since this...
No one likes to imagine the worst-case scenario. But if you are planning a new product or service in your business, forecasting failure is necessary to demonstrate your firm can withstand a slower than projected start or an unanticipated hiccup....
The end of year financial statement preparation is not a favorite task of most business owners. Under the stress and pressure of yearend, these important reports are often created quickly with a few clicks of the mouse and handed off to the CPA. If...
Let's face it, the vast majority of small business CEOs and nonprofit executive directors are flying blind when it comes to having sound, data driven insights upon which they can base their decisions. For a variety of reasons, the finance functions...
Your finance dashboard - not unlike your car's - should present the most critical indicators of your firm's financial performance to help you steer it toward achieving your objectives.
With all that a small business owner has to do, why add a regular balance sheet review? Won't your CPA advise at tax time if something is amiss? The fact is, an owner can't afford NOT to embrace this critical tool. Moreover, businesses are far too...
Does this sound familiar? Month after month, your bookkeeper or controller dutifully produces the financial reports you need to monitor your business. And month after month, you check the bottom line on the profit and loss statement, tuck the pile...
Does your company experience ebbs in revenue at times? Or periods of particularly heavy costs? Is growth constraining your cash position? Creating cash flow projections will help ensure you'll always have adequate cash to pay the critical bills,...
As a business owner, you know that your gross profit is an important figure, to you and to potential (or existing) lenders, investors and acquirers. For starters, your pricing strategy, ability to benchmark your performance and even you firm's value...
The minute the bookkeeper hands you the latest financial reports, you check the top and bottom lines. But once you have the big picture, you’re ready to dig into the details. All too often, the out-of-the-box income statement, balance sheet and cash...
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