Your Financial Toolkit Must-Haves: Breakeven and Cash Burn Rate
By: Haley Miles Being able to analyze and evaluate your company’s financial health is of upmost importance, especially in an uncertain economy. Two great metrics that owners and management can benefit from doing include a breakeven analysis and cash burn rate. But what exactly are these and how are they calculated? Keep reading to learn […]
5 Tips to Optimize Your Working Capital
Working capital optimization is a critical focus for businesses today. According to The Hackett Group’s 2023 Working Capital Survey, many companies are maintaining high levels of working capital on their balance sheets, indicating that some businesses might be missing out on profitable opportunities. The 2023 survey revealed a decline in working capital metrics from 2021 […]
6 Fundamentals of Not-For-Profit Financial Management
Understanding the specifics of grant agreements, accurately accounting for grant funds and maintaining up-to-date financial records are crucial aspects of financial management for non-profit organizations. It’s equally important to have a realistic budget, taking into account known and potential revenue sources. Remember, grant agreements could have conditions beyond administrative requirements, and these conditions directly impact […]
Outsourced Accounting & Restaurants: A Winning Combination
Many restaurants can’t justify the expense of bringing on a dedicated, full-time chief financial officer. While servers and staff handle inputting customer orders into the POS system, the responsibility for managing transactions in the restaurant’s accounting software typically falls on the general manager or the owner. However, maintaining accurate financial reporting often requires specialized accounting and […]
Hedge Accounting Rules are Changing…Again
During times of market volatility, hedging can be an effective way to counter changes in raw material prices, foreign exchange rates and interest rates. In 2017, the Financial Accounting Standards Board (FASB) issued updated guidance on hedging transactions. Additional guidance was issued in 2022 to clarify matters. Here’s an overview of the new accounting rules. […]
Cost Segregation: Frequently Asked Questions
If your company is planning to build, purchase or renovate a building, or has done so in the past several years, a cost segregation study is a powerful tool that may help boost your cash flow and decrease your tax liability. These Frequently Asked Questions (FAQ) were designed to help you determine whether a cost […]
Cost Segregation Infographic: Tax Advantages of Your Property
If your company is planning to build, purchase or renovate a building, or has done so in the past several years, a cost segregation study is a powerful tool that may help boost your cash flow, reduce your tax burden and save your company significant money. Check out this infographic below to learn if you […]
6 Benefits of Outsourcing Your Accounting & Finance Function
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A buyer’s guide: Hiring the right auditor for your benefit plan
Clark Schaefer Hackett created this buyer’s guide to help you and other plan fiduciaries make an informed decision when hiring a quality auditor for your employee benefit plan audit. This guide covers your fiduciary responsibilities, the timing of a plan audit, audit quality, finding the right auditor and more.
80-120 Rule: Do you Need a Retirement Plan Audit Infographic
Related Content: A buyer’s guide: Hiring the right auditor for your benefit plan Helping you and other plan fiduciaries make an informed decision when hiring a quality auditor for your employee benefit plan audit. This guide covers your fiduciary responsibilities, the timing of a plan audit, audit quality, finding the right auditor and more. Download […]