Blog Archives

12/27/2022

Recruiting Market Report – December Edition

Find out what we are hearing from candidates and clients and get our predictions for the future of the hiring market in the December edition of The ASP Team Market Report:

Quinn Finnigan, Partner - Recruiting Services

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12/20/2022

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Help, My Bookkeeper Left! How You Can Be Better Prepared

What would happen to your business if your accountant unexpectedly quit or was hit by the proverbial bus? How easily can someone else step in to keep the books in order?

I recently had a personal reminder of how important it is to thoughtfully consider these questions.

On a bit of a whim, I joined a fall CPA basketball league. I by no means consider myself a basketball player, having only played a little bit of JV ball in High School, but I’m over 6 feet, still in my 30s (barely), and typically able to keep up. My general thought was that this would be good way to get exercise since I dislike running unless it is in the context of sports.

X-ray of Jason's broken wrist after surgery

I didn’t completely embarrass myself among the fresh-faced CPAs just out of college representing their public firm teams. However, I definitely regretted my decision to play after a bad midcourt collision left me looking at a wrist that was definitely not in the right position. After a long ER visit and eventual surgery to add some new hardware, the recovery process began.

I still do some part-time accounting consulting work for small businesses and being able to type is a key part of getting the job done. Having a wrist that wasn’t working, along with the pain involved, really cut into my ability to be productive. Some of the work I was doing couldn’t easily be handed off, so I had to do my best to continue getting work done despite my limitations.

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12/16/2022

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When Does a Small Business Need Audited Financial Statements?

Most small businesses do not need (and would not receive much value from) a financial statement audit. Every time I hear a client talk about getting an audit, I pause and ask why.

So, let’s start there – What are audited financial statements?

“Audited financial statements” written in a notebook on a desk

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12/12/2022

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Controller or CFO – Which Do You Need?

Business leaders asking themselves the question “Do I need a CFO or Controller?” are typically in a good position – one where growth has necessitated that they bring in financial leadership.

A split screen between an accountant and an accounting executive

At this stage, companies are feeling the limitations of their existing accounting personnel and are evaluating what their next move should be to keep the company moving forward. But knowing whether to hire a Controller or a CFO is a big decision, because, contrary to popular opinion, the roles are distinctly different.

As Kevin Briscoe, the CEO of CFO Selections, explains in nonprofit leadership podcast, “A Controller is ‘walls-in and rear-facing’ and a CFO is ‘walls-out and forward-facing’.” He goes on to explain that a controller analyzes what the company has done already while a CFO evaluates where the company is going next.

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12/6/2022

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A Year End Close Checklist for Busy Accountants

When your fiscal year is coming to an end, it is important to know ahead of time which tasks you need to complete in order to work as efficiently as possible. According to Industry Dive, it takes companies an average of 25 days to complete year-end close procedures (with companies in the 75th percentile taking an average of 15 days and companies in the 25th percentile taking an average of 45 days).

a year end close checklist for accountants

“Year End Closing” written on a sticky note next to a December calendar

For companies lagging behind, the financial cost of taking an extra 20 days to close their books can be steep, and for companies performing on par with the industry, the financial benefit of reducing their work by 10 days can be a huge advantage.

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In Pursuit of Profit

Recruiting Market Report – December Edition

Help, My Bookkeeper Left! How You Can Be Better Prepared

When Does a Small Business Need Audited Financial Statements?

Controller or CFO – Which Do You Need?

A Year End Close Checklist for Busy Accountants

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​In Pursuit of Profit

Recruiting Market Report – December Edition

Help, My Bookkeeper Left! How You Can Be Better Prepared

When Does a Small Business Need Audited Financial Statements?

Controller or CFO – Which Do You Need?

A Year End Close Checklist for Busy Accountants

SUBSCRIBE:

DOWNLOAD:

DOWNLOAD:

Categories:

Archives:

Services

Company

Support

ASP

In Pursuit of Profit