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​In Pursuit of Profit

Read our expert article below or sign up to get articles sent to your inbox.​

8/28/2023

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Recruiting Market Report - August 2023

 
Find out what we are hearing from candidates and clients and get our predictions for the future of the hiring market in the August 2023 edition of The ASP Team Market Report:
Quinn Finnigan
Quinn Finnigan - Recruiting Services Leader
Joss Stokke
Joss Stokke - Recruiting Practice Leader

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8/25/2023

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Stop Wasting Time! How To Fix Broken Meetings

 
Maybe you’ve heard the platitude that we can tell what people value by how they spend their time, treasure, and talent. It rings true, but especially for time. Time is limited. Unable to be saved up, reused, or recovered, it is a valuable resource that one would think we’d be more careful about. 
the-cost-of-meetings-stop-wasting-time-and-money-how-to-have-better-meetings
An accounting team in a boring meeting.
It typically takes age and perspective to appreciate the true value of time and reorient ourselves to using our time more wisely.

In business, time measures efficiency, productivity, and the amount of human capital needed to operate a business. There seems to be a never-ending quest to find that next tool which will save and costs. From optimizing workflows, to new software solutions, and now how AI can be implemented, businesses are trying to free up time by removing mundane tasks from the workload. These tools aren’t really “time savers,” but instead seek to shift how time can be spent toward higher skill tasks that can add more value to the bottom line.

As businesses look to cut costs and streamline their operations, one area has often escaped the scrutiny it deserves - the time cost of meetings. 

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8/21/2023

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Understanding Strategic Business Drivers

 
Originally published: 1/13/2020 - Updated: 8/17/2023
If you've mapped out your company's operating strategies before considering your strategic business drivers, you may be putting the cart before the horse. 
strategic-business-drivers-revenue-drivers
Your organization's strategy is a critical statement that outlines how you expect to achieve certain goals. But what are the underlying drivers of your company's beliefs, actions, and desire for success? Defining these should come first, and then your corresponding strategies and projects will follow.

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8/14/2023

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Improving Cost Reimbursement to Prevent Fraud and Avoid an Audit

 
Expense reimbursement is one of the most common areas where businesses go wrong with their accounting. Some cost reimbursement overstatements are simple mistakes (misunderstanding what does and does not count as a valid business expense), while others are fraud plain and simple (submitting fictitious expenses or padding expense reports). 
Picture
The word “reimbursement” in a text bubble.
​Whether the problem is nefarious in nature or not, incorrectly accounting for expense reimbursements can open a business up to an IRS audit. Being audited consumes time and resources even if the business being audited prevails. However, it can also cost a company in fees and penalties if misreporting problems are discovered. For this reason, improving cost reimbursement policies and processes should be a top priority for companies that want to not only mitigate fraud risk but also reduce their likelihood of being audited. 

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8/7/2023

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How Non-Profits can Save on Accounting Expenses

 
Recently, we were contacted by a local nonprofit that was looking for someone to handle their books. Their representative essentially said, 
Picture
Office employees examining a budget.
As a nonprofit we want to save as much money as possible because the donors expect their money to go to the cause, not admin expenses. We also have to meet the requirements to be in compliance with all applicable standards and regulations, so we know it’s an area worthy of investing funds.
This conversation expresses the quandary that nonprofit organizations deal with every day – they understand the importance of good financial management, but they also realize that getting funding to invest more in this area is going to be an uphill battle. As a result, they need a cost-effective way to hire a nonprofit accountant or find accounting services on a budget. 

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