Internal Control

5 Reasons Outsourcing Works for Growing Businesses

By |2019-12-09T13:07:09-06:00November 27th, 2019|Accounting, Advisory, Goals, Internal Control, Payroll, Tips|

As your small business grows, the demands on your time and energy grow, too. You and your employees can find yourselves consumed with activities that creep beyond your passion and proficiency. This can be risky for your business, at worst, and boring or unfulfilling for you and your employees, at best. Many business owners [...]

Increasing The Value of Your Business

By |2019-12-09T13:08:02-06:00November 21st, 2019|Advisory, Business Valuation, Change, Goals, Internal Control, Investment, Preparation, Sell, Value|

Have you ever wondered, “What is my business worth?” You’ve worked hard and are committed to the success of your business, but you might be considering retirement or pursuing a different career path. You may want to sell to an outsider or your children that are actively involved in the business. Regardless of the [...]

Data Security: Is Your Organization Doing Enough?

By |2019-12-09T13:12:32-06:00August 14th, 2019|Assurance, Board, Fraud, Internal Control, IT, Nonprofit, Preparation, Tips|

The term data security broadly refers to defensive measures put into effect to prevent unauthorized admission into computers, databases, websites, and any other places data may be stored. Data security is typically applied to systems which protect personally identifiable information (PII). Examples of more sensitive PII include social security numbers, driver’s license numbers, full [...]

4 Takes on Succession Planning: Part 2

By |2019-12-09T13:14:04-06:00August 14th, 2019|Advisory, Change, Internal Control, Morale, Preparation, Succession Planning|

Our friends, Bob Hodges and Colin Hendricks, and their estate planning group from BrownWinick – Attorneys at Law, are focused on assisting individuals and business owners in structuring their operation so that assets (business and personal) transition from one generation to the next in a smooth and tax-efficient manner. BrownWinick is a full-service law [...]

4 Takes On Succession Planning-Part 1

By |2019-12-09T13:21:44-06:00March 27th, 2019|Advisory, Change, Internal Control, Morale, Preparation, Succession Planning|

Our friend, Rena Striegel, owner of Transition Point Business Advisors, is focused on the human and emotional aspects that often cause hurdles and setbacks if not dealt with. Here’s a little bit about Rena and what she shared with us about her role in succession planning. Rena Striegel is an internationally recognized business coach [...]

The Time is Now… Financial Statement Presentation Changes are Here!

By |2019-05-22T10:02:27-05:00February 27th, 2019|Accounting, Board, Change, Compliance, Internal Control, Nonprofit|

Previously in “Changes to Financial Statements for Not-for-Profit Entities, Are You Ready?”, we provided an overview of the changes for nonprofit financial statements. Now we will take a closer look at the new net asset presentation and disclosures your organization will face, beginning with your December 31, 2018 financial statements. If you missed our previous [...]

Do You Really Need An Audit?

By |2019-12-09T13:24:12-06:00February 6th, 2019|Assurance, Board, Compliance, Internal Control, Nonprofit|

For those of you that go through an audit each year, you know how costly and time consuming they can be. You may have wondered, “Do I really need an audit? Is there something else that I can do to satisfy my financial reporting requirements?” To accurately answer those questions, you first need to [...]

Governance vs Management, Is There a Difference?

By |2019-01-24T15:08:15-06:00December 18th, 2018|Board, Goals, Internal Control, Leader, Nonprofit|

It’s no secret that nonprofit organizations come in a variety of shapes and sizes.  Likewise, the structure of their boards are made up of various shapes and sizes.  As a board member, it's important to understand what your role is in providing service to the organization.  Especially for organizations without paid staff, board members are [...]

Goal Setting – The First Step in Succession Planning

By |2019-09-17T09:39:50-05:00December 6th, 2018|Advisory, Change, Internal Control, Leader, Preparation, Shareholder, Succession Planning|

Many of us can relate to trying a new diet or exercise program at some point in our lives. What was the key component to success or failure in the program? For me, the answer is easy—my success depended on a few things: Did I fully “buy-in” to the program? Did I completely let go [...]

3 Reasons You Should Consider Moving to the Cloud

By |2019-01-16T12:25:32-06:00December 4th, 2018|Internal Control, IT, Leading, Nonprofit, Preparation, Records, Tips|

What is the Cloud and How Does it Work? When you hear the saying, “your data is in the cloud”, it doesn’t mean your data is actually stored in a cloud about to drop torrents of rain upon you. The “cloud” merely means that your software and services are running through the internet instead of [...]