Valuations and Independence: A Complex Issue
Accountants and valuations analysts are often asked by clients to prepare a valuation of their business, but sometimes they have to pass on the work. Why? If the CPA or analyst’s firm also performs audit engagements for the company, there could be what is called a lack of independence, which is required for all firms…
Questions to Ask Before Opening your own Business
Have you always dreamed of being a business owner? Before jumping in, ask yourself some questions. Then take the appropriate steps to safeguard your investment. Determine the type of business you want: Do you prefer a franchise or not? Do you want a service-based company, retail business or manufacturing company? Home-based, storefront or online? In…
How to Get Apathetic Employees Engaged in their Jobs
Apathetic employees can hurt productivity and customer service because they don’t care about doing their best – they do just enough to stay under the boss’s radar. How can you tell if your employees are apathetic about their jobs? Look at their faces. Apathetic employees have flat affect and blank stares when there is work…
Presenting to Donor Groups is Different
If you’re in a management role with a nonprofit, chances are you sometimes have to give presentations to groups of individual donors and supporting institutions. And much of the time, you’re probably making a case for why they should support your organization. What makes these kinds of presentations especially daunting is that your organization’s financial…
How to Determine the Net Worth of Key Employees
You undoubtedly have clients that rely on one or more key employees. A key person’s death or disability could spell disaster for the company, but it’s inevitable somewhere down the line. You’re not doing the job for your clients if you aren’t helping them hedge against the loss of key people. A key employee is…
Protect Elderly Parents’ Finances from Scams
Money is a delicate subject in many families. As parents age, money issues become increasingly important and often even more sensitive. Controlling their own money is a tangible sign of parents’ independence. Because of this, they may hesitate to give up that control to children or even to talk about what they are doing with…
Office Politics: To Play or not to Play
Office politics. Should you avoid them, or will that hurt your chances for advancement? Some people pretend office politics don’t exist, or they act as if they are above it all. But is that the wisest approach? Maybe not. Some organizational development experts say that avoiding office politics can impede your career advancement. It makes…
How to Build a Strong Board of Directors
If you want the best, most effective, board of directors possible, start with one vital requirement: a commitment to your mission. A director dedicated to your goals is most likely to devote the time necessary, be able to focus on the essential issues, and congenially meld his or her unique talents with those of the…
When Should an Attorney Call a CPA?
When should an attorney call a CPA for assistance? The short answer is, “Whenever business issues or numbers are involved.” Your CPA won’t be happy unless you are successful. Involving a CPA in litigation and practice management matters can help you realize greater profit and have a much healthier practice. Business and Asset Valuations In matrimonial cases, CPAs…
Is the Consumer Price Index for Real?
People who take budgeting and retirement planning seriously are concerned about the specter of inflation raising its ugly head. Is there a reliable measure of inflation to plan for retirement needs or to forecast whether you will meet investment goals? The most widely reported measurement is the Consumer Price Index (CPI), a cost-of-living index calculated…