Outsourcing functions that are outside of your organization’s core operations has become increasingly popular for businesses seeking efficient and cost-effective solutions. One such function is accounting, where outsourcing can provide expert services at an economical price point. Whether you’re a small startup or an established company, selecting the right outsourced
A chart of accounts is a fundamental tool in your business’s financial management – think if it as the blueprint of your financial house. It serves as a structured framework for organizing and categorizing financial transactions. By creating a well-designed chart of accounts, you can gain valuable insights into your
Private equity (PE) is a highly competitive and complex industry that requires a lot of focus, expertise, and resources to succeed. PE firms invest in private companies, often with the aim of improving their performance, growth, and value. However, managing these investments is not the only function that PE firms
Accounting is one of the most essential and complex functions of any business, involving such tasks as recording, reporting, and analyzing financial transactions. However, many small businesses struggle to handle their accounting tasks in-house, either due to lack of time, expertise, or resources. That’s why outsourcing accounting to a professional
As a business owner, you know how important it is to keep track of your financial performance. But with so many numbers and reports to look at, it can be difficult to know which ones are the most relevant and useful for your business, and complicated to understand their impact.
Whether a business needs capital today or in the future, business owners must understand what drives debt or equity providers to want to invest capital. While there are many available avenues for financing – traditional banking (including SBA loans), private debt, private investors, etc. – the basic requirements are surprisingly
A question we often get from clients who are used to keeping their books on a cash basis is why do the accruals matter? If you aren’t trying to grow your business, have plenty of time for family and friends in your typical day, and like things how they
Many of the companies we’ve worked with have been reluctant to adopt accrual-based books because their tax preparer told them they will lose tax benefits if they do. We always recommend filing your taxes in whatever way your tax preparer advises you to. However, you don’t need to keep your
Understanding the break-even point in any business is critical. While setting ambitious levels for metrics such as ROA (Return On Assets), ROE (Return On Equity), and EVA (Economic Value Added) will yield better performance for your business, understanding the point at which your business can sustain itself without losing money
Payroll accruals can be one of easiest to overlook, but doing so can lead to some misleading conclusions. We recently worked with a company which somehow managed to grow to $100 million in revenue without entering any monthly payroll accruals. During one monthly performance review things didn’t seem so good.