Financial Reporting for non-profit organizations can be complex. Navigating what you should include in the presentation, how to prepare it for the board members, and how to hold your non-profit accountable for where the funds are coming from can be complicated. Here are a few pointers on the best things to include, and how to differentiate between different types of funds:
The coronavirus pandemic has created a need for businesses to become more focused than ever on their business expenditures and daily operations. The same can be said for the financial crisis of 2008 — when the economy takes a hit, organizations dial things in. Implementing the right survival strategy allowed many businesses to come out of the recession stranger than they were before. Here’s how they did it:
The economic effects of coronavirus are still being determined, but it’s safe to say that most businesses have been affected in one way or another by this pandemic. As businesses attempt to protect their employees and keep their companies afloat, business owners have had to adjust their daily operations in order to succeed. How can we learn from history and better prepare supply-chain leaders to succeed in uncertain times?
Staff Accountants are the backbone of any good accounting firm and handle the majority of basic accounting functions for your company. When you have great Staff Accountants, your business will run more smoothly, and your CFO will be able to make the best possible decisions. When it comes to accounting, every small decision matters in a big way for the company as a whole. Here are a few qualities to look out for when hiring Staff Accountants:
In response to the economic impact of coronavirus, Congress rolled out the Main Street Loan Program to help businesses get funding to stay afloat. This program provides $600 billion in financing for all businesses. Before you consider applying for this loan program, there are a few things to consider.
You have a plan that’s specific to your business. Now what? How do you execute on this big picture plan? Start by using your budget and forecast to run your business by the numbers. Running your business by the numbers also means tracking Key Performance Indicators (KPI’s) and establishing a regular cadence for meetings to be able to execute your plan and measure your results.
At TGG, we meet business owners everyday that are reluctant to outsource their accounting and financial functions because they think it will reduce visibility into the financial health of their business.
At the same time, they’re struggling with accounting and reporting issues–even when they have someone on staff to handle bookkeeping.
Large companies benefit from accounting and finance departments that have several layers of expertise at their disposal.
It’s usually too costly for small businesses to staff an entire finance department. But they can emulate this model by using an experienced, outsourced accounting service that provides the right expertise at the right times.
You might be surprised to know that this does not necessarily mean getting rid of your current staff.
Accounting for small business can mean different things at different times in your company’s growth and it’s important to have the right expertise on hand.
Here are the most common questions we hear when small businesses are considering outsourced accounting services.