In Pursuit of Profit
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A guest post from Jen Girard at CFO Selections
We get this request all the time. A small non-profit needs to hire a new Finance Manager. Sometimes they call this person a CFO or Controller, but whatever the title, the role is a Superhero who wears multiple costumes and does it all!
How do you find (and afford) this person? Find out how other non-profits are doing it:
Most business owners are familiar with the concept of internal financial controls, but there is often confusion around who needs them. We hear this every day in the conversations we have with the leadership teams of small to mid-sized business.
There is widely held a misconception that only publicly traded companies need to worry about internal controls. Private companies often assume that because they do not need to file their financial reports with an external entity or report them to shareholders that they do not need to implement the same types of controls that larger, public organizations do. The confusion here stems from the that many people view internal controls as a piece of the regulatory puzzle, when in reality internal controls are “The policies and procedures used to ensure accuracy and reliability across accounting reports.”
While many companies have faced materials and components shortages leading to stock outs since the start of the pandemic, many other companies have been sitting on excess inventory due to transportation challenges, shifting consumer patterns, and tightening sales distribution channels.
Excess inventory occurs when a business holds more stock than is needed to meet their forecasted demand. It can be the result of flawed forecasting, purchasing errors, improper inventory management, or business disruptions. The latter is what many organizations have been dealing with since early-2020. But, regardless of the cause, too much inventory can cause both financial and operational obstacles.
If your company is carrying an abundance of inventory, it is important to act quickly to get it off your books and out of your warehouses. Use this guide to understand why excess inventory can be a business killer, and what to do about it!
ASP expands to Denver, Colorado, to provide accounting and recruiting services.
Bellevue, WA – January 10, 2022 – ASP, a trusted provider of accounting and recruiting services, recently opened a new office in the city of Denver, Colorado.
In addition to the corporate headquarters in Bellevue, WA, and a satellite office in Portland, OR, the new location will support Colorado.
A lot has been said about The Great Resignation occurring across America right now, but not all employees are leaving for better opportunities. Long-term employees are retiring in droves right now. Many accounting and finance professionals that are close to retirement age are making the decision to step away from full-term work, while others that are well past retirement age are finally ready to hand over the reins at the companies they have served for many years.
Any time a long-term employee leaves, a significant gap is created that their employer must fill with not only a new hire but also the technology and systems components that need to be built up in the transition. So, if your accountant is retiring, now is the time to plan for the shift.