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​In Pursuit of Profit

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

9/28/2022

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The Bookkeeping Cleanup Checklist

 
Keeping clean books is one of the ways that good accountants add value to the companies that employ them because, 
Bookkeeping cleanup checklist
A businessperson holding up a stack of giant falling binders
Having clean books lays a foundation for smart decision-making and sound strategic planning. It is also crucial when applying for financing, pitching to investors, and keeping partners informed. A company that does not represent themselves truthfully with their financial data, even if it is an accidental misrepresentation, can miss out on growth opportunities or be faced with fines or penalties as a result.
But what happens when the books fall into disarray despite your best efforts to keep them accurate and close them in a timely manner? 

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9/19/2022

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Eliminating the Possibility for Fraud: A Business Fraud Checklist

 
​Unfortunately, there is no way to eliminate the potential for business fraud entirely. However, you can minimize the likelihood that it will occur by strategically removing the most common ways that fraud occurs. 
A business fraud checklist
A magnifying glass over the word Fraud
As a business owner you need to understand that no company is immune from the possibility for fraud. Every day businesses become victims of theft, resulting in not only lost cash but also sensitive information and business data. Realizing this is paramount. Fraud does happen and it can happen to you.

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9/13/2022

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Rethinking Accounting for Small Businesses: Is Your Approach Outdated?

 
If nothing else, the COVID pandemic has taught us that many of the things we once held dear can change, if they have to. For better or worse, many traditional processes did change – education, service delivery, retail shopping, and more. 
rethinking accounting for small businesses: is your approach outdated
​A staffed payment station in a local café
And while we yearn for a return to normal, we’re constantly challenged with answering the question, “What is normal now?”
 
The practice of accounting has not been immune to these challenges. During the pandemic, most businesses were forced to rethink their basic accounting processes and structures just to survive. While remote work and part-time bookkeeping has been a long been a staple of many small businesses, many larger enterprises have been forced to re-think how to execute their missions in light of mass shutdowns.
 
But what is normal going forward? What, if any, of the revelations and lessons of the past 2+ years can and should be brought forward and adapted as the new normal? 

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9/8/2022

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Can Accounting Work be Done Remotely Forever?

 
Regardless of your stance on remote work you have probably wondered, “Will my work continue to be done remotely forever?” at one point or another over the last two years.
​
​Earlier in the pandemic, we were all anxiously waiting to find out when everyone would come back to the office. 

Can Accounting Work be Done Remotely Forever
A computer on a desk featuring four people on a video chat surrounded by business concept icons
In recent months we have solidly come to understand that for better or worse the typical office work model we were once accustomed to has been permanently changed and we may never see the corporate world fully return to the office full-time. And yet, even as we begin to look forward to 2023, this question of whether accounting work will move back into the office still remains. 

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9/1/2022

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How to Upskill Your Accounting Staff

 
Increasingly these days we are hearing about accounting firms offshoring their accounting work. This is not a new phenomenon, but the motivation behind this kind of a decision is changing. ​
how to upskill your accounting staff
A typewriter typing the word “upskilling”
While outsourcing overseas used to just be a cost-saving measure, many accounting firms are now facing labor shortages that are forcing them to take this step out of necessity, not of their own choosing. ​The Washington Post declared that “The remote revolution could lead to offshoring Armageddon” and though that is likely an exaggeration, it demonstrates how desperate many employers are these days to find personnel to do the work that needs to get done. 

CPA firms, large employers, and companies with complicated ongoing financial needs are in a pinch. They need skilled employees to do the work that keeps their businesses running but with a dearth of qualified candidates available, their options are limited. However, offshoring is not the only solution! It is often a far better option to upskill your existing employees to assist with this work than to send it overseas.

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