Monthly Archives: February 2013

Do You Really Need GAAP-based Financial Statements?

I many cases, privately owned, small- and medium-sized businesses would be better served with a more relevant, less-complicated and cost-beneficial framework for their financial reporting needs. Bankers and other financial statement users who have direct access to management also need useful financial statements that are easier to understand.

These are the needs that the AICPA aimed to fulfill with its Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs).…

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Changing Plans

As a CFO I am all about plans, projections, budgets, and forecasts.  The most successful companies meticulously strategize, put their strategy into place, and determine what action steps are necessary to achieve their plans.  A time may come, however, when plans must be changed in order to assure success or sometimes even survival.…

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How to Treat People

A business is only as good as its people.  Business owners, in order to meet their company goals, must have people that are highly skilled, customer focused, loyal, and motivated.  Fortunate indeed is the company owner who has these types of quality individuals on their team.  The challenge then becomes keeping these people on the team. …

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