What should your ideal accounting department look like? It’s a common question among businesses. It’s important to know proper roles and responsibilities along with how to best structure it. When it comes to accounting, a multi-layer structure is critical to …
Annual business planning is one of the most important things that a business owner or CEO must do. It sets the strategy, the goals and determines the tactics for the following year.
Of course, there is a lot to consider …
The non-profit statement of activities reads much like an Income Statement in for-profit organizations.
Instead of breaking down the activities into Revenue, Cost of Sales, General and Administrative Expenses, and Other Income and Expenses, the non-profit statement breaks down income …
Only one in 20 small businesses has accurate financial statements.
That makes up only five percent of businesses. Almost half of all small businesses experience some kind of accounting theft at their company, which costs them an average of about …
Contingency planning for the 1 in 100 situations that can arise may seem like catastrophic thinking, a waste of time, or farfetched, until a widespread virus disrupts supply chains the world over. Having a Plan B can be the difference …
Nonprofit executives must wear many hats. Not only are they responsible for fundraising to advance their organizational mission, but they may also be responsible for strategic planning, board communications, human resources, and recruiting, among other things.
More so than ever …
Selling your business can be a cumbersome task. Where do you even start?
Most business owners are experienced at running a business, often very successfully. However, selling a business is usually not something most business owners have a great deal …
There’s a small business tax trap that many owners fall prey to. The IRS requires you to make quarterly estimated payments of your tax liability. Most of us small business owners either underpay the tax rate or not even pay …
This is an article about our CEO, Matt Garrett’s presentation to Vistage. You can view the original article on the Vistage Website.
As the COVID-19 pandemic continues to worsen, finance experts say the global economy is spiraling towards a recession …
TGG recently hosted a roundtable on nonprofit fundraising. We invited our clients and other nonprofits in the community to discuss strategies for increasing donations, expanding their donor base, and appealing to millennial donors.
The forum was moderated by Steve Goldstein, …
Cash accounting and accrual accounting are two concepts that are foreign to most people, but it’s important to understand the difference. As a business owner, if you manage your books on a cash basis, you will ultimately fool yourself. Why …
What’s the easiest sale that you can make as a business? The easiest sale you can make is to a happy customer, and you can sell them something else. Here are a couple upselling tips:
First, you can sell your …
We’re going to talk about increasing gross margin. One of the best ways that you as a business owner can go about figuring out how to improve profitability without increasing sales. One of the best ways to improve gross margin …
When we’re thinking about cash, we have to think about the discounts that we might be offering, and how discounting affects profitability. Clearly, we want to try to take discounts if we get them. But what about discounts that we’re …
True sales planning is one of the most important things that a business can do each year. It forces business leaders to think through – in significant detail – what is necessary to accomplish their business goals.
Sales planning is …
The single most important element in the forecasting process is the Sales Forecast. Generally, Sales drives everything else; it is what determines the expense spending plan. If the company is a manufacturing company, the sales forecast will drive the production …