Tag Archives: financial strategy

Two Sets of Books for Revenue Recognition

You Will Have to Keep Two Sets of Books if Impacted by the New Revenue Recognition Standard. It is not too soon to be evaluating the impact of ASC 606 on their financial reporting and other aspects of their business. It is recommended that businesses undertake and impact assessment and develop an implementation plan and budget.  …

How to Determine if You Need New Accounting Software Part Two – Systems Selection

In part one of this series, I identified the considerations you should keep in mind when deciding whether or not your company has outgrown Quickbooks. Part two covers how systems selection is the first big hurdle in a conversion.  Selecting the “wrong” system is not an uncommon mistake and the “right” system may be one of several …

Outsourcing vs. Centralizing vs. Offshoring: Which is Best for your Business?

Looking to streamline your business functions and can’t decide whether you should outsource, centralize or offshore? All three are great options for small business owners looking to increase efficiencies, reduce cost and improve service – so let’s break them down to determine which is the best for your business. Defining the Options When it comes …

How to Determine if You Need New Accounting Software Part One

A common concern for many of our clients is in regards to their accounting software, specifically QuickBooks. Deciding when to make the switch from QuickBooks for a more robust accounting or Enterprise Resource Planning (ERP) system is no trivial matter. On the one hand, once a company has outgrown QuickBooks, remaining with it may limit …

The Single BEST Way to Prevent Financial Fraud

Financial fraud is a bad scenario for business owners. Beyond the embarrassment or the financial loss, fraud can also result in the termination of a long-term employee. A few factors may put a company at risk; however, the primary cause is a lack of internal controls and oversight. We also find that a lack of …

How to Fund Your Business

Options to fund a business range from family and friends to banks to institutional capital and business owners are best served by understanding the advantages and disadvantages of each option before making this decision. Read more below for tips on navigating this process effectively. Overview of the Stages: Even though every company has a timeline, …

The Best of vcfo Webinars: Expert Training for Your Business

With 2017 still new and full of possibility, we thought it was the perfect time to revisit some of our most helpful webinars from recent years. Whether you need winning ideas for a big upcoming pitch or want to brush up on your budgeting basics before diving into the year’s financial planning, you’ll find valuable …

5 essential steps for navigating seafood business marketplace uncertainties

These are interesting times for seafood companies and fisheries based in Washington state. A confluence of factors, including changing ocean conditions and intense international competition are introducing uncertainties that complicate business decision making. It all begs the question of what seafood businesses can do to stay strong in the face of rapid environmental changes and …

How suppliers can prepare for aircraft manufacture cost-cutting demands: 5 key steps

From a competitive standpoint, 2016 has been a choppy year for major aircraft manufacturers. Intense pricing competition between Airbus and Boeing, as well as increasing competition from Bombardier, have led both companies to pursue cost-cutting efforts. The ripple effects to suppliers from Boeing’s latest efforts, including requests for longer payment terms, have significant business implications. …

6 Ways Restaurants Can Avoid Unnecessary Credit Card Processing Costs

The pressures on restaurant owners and managers are relentless. New competition. Shifting economic conditions. Changing tastes. All kinds of constantly evolving business considerations make it easy to get caught up worrying about things like customer service and turnover while revenue and profits slip away. In fact, when we provide CFO consulting services to restaurants, we …