Blog Updates

CFO Adds Value

What is accounting/finance that adds value to your business? It is not merely to pay taxes, or to feel comfortable that your books are correct. Real value derives from the insights you receive from: = 3. Future projections that are invaluable to decision making A good bookkeeper simply achieves comfortability. Leveraging a Fractional Controller or…

Restaurant Financial Metrics

As a CPA and CFO, understanding key metrics in the restaurant industry is essential for financial health and operational efficiency.  A few crucial metrics: 2. Gross Profit after Prime Costs (GPPC)-  helps in understanding the true profitability after accounting for food and labor. 3. Total Sales Per Head- indicates how efficiently your team is generating…

Exploring SEP IRAs: Simplify Your Retirement Strategy

As a CPA and CFO, I often navigate the complex world of retirement planning. Today, let’s dive into Simplified Employee Pension Individual Retirement Accounts, or SEP IRAs, and why they’re a game-changer for businesses of all sizes. 1️⃣   Accessibility & Eligibility: SEP IRAs aren’t just for large corporations. Whether you’re a freelancer, small business owner,…

Preparing for Tax Filing 2024: Key Steps to Take Now

Tax season is just around the corner, and now is the perfect time to get ahead. Start by organizing key documents like W-2s, 1099s, and receipts for deductions—having everything in one place makes filing much smoother. Take a moment to review your filing status and consider whether itemizing deductions could benefit you this year. Don’t…

Dynamic Financial Statement Projections & Forecasts

As a CPA and CFO, I’ve witnessed the transformative impact of financial statement projections and forecasts.  It’s not just about predicting numbers; it’s about empowering strategic decision-making. With accurate projections: 1️⃣   You gain insight into future financial trends, allowing for proactive adjustments. 2️⃣   Month-over-month and quarter-over-quarter variances become clear, enabling swift course corrections. 3️⃣   You…

Excel & Accounting

Excel is a powerhouse tool for accountants and finance professionals alike, offering unmatched flexibility and accessibility. For small businesses or self-employed individuals, it’s often an ideal solution because it’s already included with Microsoft 365 and can be customized to fit specific financial needs. However, Excel’s greatest strength—its flexibility—can also be a drawback. Without built-in accounting…

Navigating Campaign Funding: Key Insights on Compliance and Strategy

Campaign funding is a critical part of any political campaign, but it comes with a maze of regulatory requirements. At both the state and federal levels, campaign finance laws dictate how contributions are raised, reported, and spent. These laws ensure transparency, limit influence, and help maintain public trust in the process. Candidates rely on contributions…

SMB Financial Structure

As a CPA and CFO, I’ve seen firsthand how a strong financial structure can make or break an SMB. Here are five key steps to set up a solid foundation: A well-structured financial framework isn’t just about numbers; it’s about making informed decisions that drive growth. Let’s keep moving forward together! Let’s discuss!

Bookkeeping: The Foundation of Smart Money Management

Every business decision relies on one thing: accurate financial data. Bookkeeping isn’t just a task—it’s the cornerstone of healthy financial management. Without clean, up-to-date records, businesses risk making decisions in the dark. Bookkeepers handle the day-to-day financial details, such as recording transactions and categorizing expenses. Their work ensures that accountants and CFOs have reliable information…

10 Costs Classifications

Understanding the 10 Key Cost Classifications is essential for effective financial management. As a CPA and CFO, I’ve found that distinguishing between Fixed Costs, Variable Costs, and Operating Costs is crucial for budgeting and forecasting. Additionally, recognizing Direct and Indirect Costs helps in accurate cost allocation. Don’t overlook One-Time Costs versus Recurring Costs, which impact…

Critical Financial Tools

As a CFO, I can’t overstate the value of trailing twelve months (TTM) financial statements in providing a real-time view of your company’s financial health. Unlike traditional quarterly or annual reports, TTM data reflects the most current trends, smoothing out seasonal variations and offering a more accurate assessment of performance. This approach is particularly useful…

Navigating the Bank Balance Accounting Trap

It’s easy to feel secure when your bank account is flush with cash—but that feeling can quickly fade once bills come due. Many businesses fall into the trap of managing their finances based solely on their current bank balance, which can lead to a rollercoaster of high-stress decision-making. This ‘feast or famine’ cycle not only…