Free Management Accounting Articles
Filing Sales and Use Tax
Sales tax is a tax paid to a governing body (state or local) on the sale of certain goods and services. As a c…
Understanding Payroll Tax Withholding
Payroll tax withholding is when an employer holds a portion of an employee’s gross wages for taxes. The …
Understanding a Workers' Compensation Audit
What Is a Workers’ Compensation Audit? A workers’ comp audit (also referred to as a workman&…
What to Do When You Receive a Letter or Notice From the IRS
You may have received a notice or letter from the IRS for a variety of reasons. The IRS may mail a t…
Why does your small business need monthly financial statements?
Small business needs financial statements in order to pay taxes, run the business, and secure investment. Book…
5 Reasons Why Now Might Be The Right Time To Sell
Are you trying to time the sale of your business so that you exit when both your business and the economy are…
Why Now Is The Riskiest Time To Own Your Business
Most people think of starting a business as risky, but unless you invest a significant amount of start-up cas…
3 Ways To Make Your Company More Valuable Than Your Industry Peers
Have you ever wondered what determines the value of your business? Perhaps you’ve heard an industry rul…
The Surprising Secret To A Big Exit
We get to see a lot of company founders who are contemplating an exit. Some of our customers get lucky early …
One Way To Decide When To Sell
How do you know the right time to sell your company? One answer to this age-old question is that the time to …
3 Surprising Reasons To Offer A Subscription
You can now buy a subscription for everything from dog treats to razor blades. Music subscription services are…
The Anatomy of a Successful Exit
Stephanie Breedlove started Breedlove & Associates in 1992 as a way to pay her nanny. The big payroll pro…
The Downside of Selling Someone Else’s Product
Are you tempted to re-sell someone else’s product to boost your topline revenue? On the surface, becomin…
Will this be the year you seriously drive up the value of your company?
If you have resolved to make your company more valuable in 2017, you may want to think hard about how your cu…
Market Share vs. Addressable Market
Imagine you’re a farmer and you’ve been tending to your crops all year. It’s harvest season…
5 Ways To Get Your Business To Run Without You
Some owners focus on growing their profits, while others are obsessed with sales goals. Have you ever conside…
How much goodwill do you have in your business?
The term “goodwill” is often thrown around in conversation as though it is a subjective descripti…
How Three Moves Quadrupled the Value of this Business
Are you stuck trying to figure out how to create some recurring revenue for your business? You know tho…
Thinking Vs. Doing: The Owner’s Dilemma
There’s a steady breeze from the northwest, which cools the warm Caribbean afternoon. Framed between a …
Have You Discovered Your Recurring Revenue Model?
When it comes to the value of your business, what happened in the past is much less important than what is li…
Rich vs. Famous
Have you set a goal for your company this year? If you’re like most business owners, you’re striv…
Creating Sticky Customers
Repeat customers are the lifeblood of your business, but customers can be fickle. Here's how to make them sti…
The Biggest Mistake Owners Make When Selling
One of the biggest mistake owners make in selling their company is being lured into a proprietary deal. The D…
Why Bother Doing It The Hard Way?
Whether you want to sell your business next year or a decade from now, you will have two basic options for an…
You-proofing Your Business
Making your business less dependent on you has a number of benefits: you can scale your company more quickly …
Six Power Ratios to Start Tracking Now
Doctors in the developing world measure their progress not by the aggregate number of children who die in chil…
How Your Age Shapes Your Exit Plan
Your age has a big impact on your attitude toward your business, and your feelings about one day getting out o…
The Downside of Just Milking It
If you have considered selling your business of late, you may have been disappointed to see the offers a busin…
90 Days That Will Define Your Business Forever
You've done the hard work of winning a new customer, but it's what you do in the next 90 days that determines …
How to Get Rich in 3 (Really Difficult) Steps
Becoming wealthy may not be your primary goal, but if it is, there is a reasonably predictable way to get rich…
Did you miss the perfect time to sell your business?
August was a rollercoaster ride for stockholders. Triple digit wins followed by even larger losses left the av…
4 Steps To Finding Your Sell-By Date
Most business owners think selling their business is a sprint, but the reality is it takes a long time to sell…
How To Scale Up Your Service Business
Increase the value of your company by training others in your area of expertise. It can be tough to grow…
4 Traps To Avoid When Selling Your Company
Business owners have been known to refer to due diligence as "the entrepreneur's proctology exam." It's a crud…
Subscribers Make Your Company More Valuable
Why are Amazon, Apple and many of the most promising Silicon Valley start-ups leveraging a subscription busine…
Business Valuation
Deck: Business valuation goes beyond simple mathematics, but to get some idea of what your business migh…
What a Study of 14,000 Businesses Reveals About How You Should Not Be Spending Your Time
In an analysis of more than 14,000 businesses, a new study finds the most valuable companies take a contrarian…
6 Reasons Not to Diversify
Deck: Diversification is a sound financial planning strategy, but does it work for company building? How does …
What’s So Special About the Million-Dollar Mark?
If you're wondering when is the right time to sell your business, you may want to wait until your company is g…
A Blood Pressure Test for Your Business
When was the last time you had your blood pressure tested? Taking your blood pressure is one of the first thin…
One Hidden Thing That Drives Your Company’s Value
You already know that your company’s revenue and profits play a big role in how much your business is wo…
10 Things That Make Your Business More Valuable Than That of Your Industry Peers
The value of your company is partly determined by your industry. For example, cloud-based software companies a…
5 Ways to Attract the Attention of An Acquirer
In any negotiation, being the person who makes the first move usually puts you at a slight disadvantage. The f…
Six Ways to Profit from your Vacation
Summer is here, and although it may seem strange, now may be the perfect time to increase the value of your co…
How to Increase the Value of your Business by 71%
How much did your home increase in value last year? Depending on where you live, it may have gone up by …
Why Fire Trucks Always Back In
Have you ever noticed that fire trucks always back into the fire hall? Why don’t they just pull into the…
Preventing Employee Theft
As a small business owner, you know how crucial it is to protect your assets; however, employee theft is a rea…
Handling Employee Theft and Fraud
I caught my long time employee stealing. How should I handle it? When you’re in a tough situation such a…
How Do I Create a Turnaround Plan for my Business?
When your company is struggling, everything counts and nothing is neutral. Time can be on your side, but it is…
Best Practices for Tracking Employee Time for Professional Firms
Professional service firms know that it is critical track your employee’s time, but why? The correlation…
Do You Have a Job or Own a Business?
The ultimate test of your business can be found in a simple question: would someone want to buy your company? …
Will your business be more valuable this time next year?
For many, January is a time of rebirth and resolutions. It’s a month to reflect on last year’s ach…
6 Little Things that Make a Big Difference to the Value of Your Company
With the Sochi Olympic Games taking place this month, it is interesting to reflect back on some of the big eve…
Growth vs. Value: not all revenue is created equally
When you look ahead to next year, will your growth come from selling more to your existing customers or findin…
Do you have a billion dollar business hiding inside your company?
Asking customers to pay to join a special group of your best patrons can increase your revenue, encourage cust…
The Hidden Goal of the Smartest Business Owners
What are your business goals for the year? If you’re like most owners, you have a profit goal you want t…
Justification for Your Next Vacation
A recent survey by The Value Builder Score found companies that would perform well without their owner for a p…
Have you fallen into The Mile Wide Trap?
If your company’s revenue has stalled after a period of rapid growth, you may have fallen into The Mile …
The Curator: How to Thrive as a Middleman
Being a middleman (or woman) has become risky business. When was the last time you used a travel agent? …
Avoiding the Superstar Sales Rep Trap
For your business to be valuable – and sellable one day – you need some way to generate sales afte…
Four Traps to Avoid When an Acquirer Comes Calling
You may be eager to sell your business, and happy to have an acquirer at your doorstep, but what’s it li…
Is Your Business You-Proof?
Whether you’re planning to sell your company sometime soon or sometime in the future; now is the time to…
The Hierarchy of Recurring Revenue: How to Make Your Company Irresistible to Potential Buyers
One of the biggest factors in determining the value of your company is the extent to which an acquirer can see…
8 Questions You’ll Be Asked When Selling Your Business
One of the most intimidating aspects of selling your business can be facing the barrage of questions duri…
7 Things To Do Before Signing a Letter of Intent
You may be years away from selling your business, but it’s never too early to understand what the proces…
Is Now the Time To Sell Your Business?
Have you been thinking about selling your business but just can’t decide if now is the best time? …
Does Your Business Have Curb Appeal?
Let’s say you’re in the market for buying a house and you go to view one that looks appealing in t…
The C-word and 7 Others to Avoid at Work
The majority of businesses in America today started out as service companies. If you want to own a web design …
Planning to Sell? How to answer THE most important question
Many business owners believe the act of selling their business is similar to passing the baton in a 400-meter …
Prevention is Better Than Cure
To grow a valuable business – one you can sell – you need to set up your company so that it is no …
Four Ways to Protect Your Turf
Warren Buffett famously invests in businesses that have what he calls a protective “moat” around t…
Where to Start When Your Growth Stops
Why would two companies in the same industry, with the same financial performance, command vastly differe…
9 Warning Signs You’re a Hub-and-Spoke Owner
If you were to draw a picture that visually represents your role in your business, what would it look like? Ar…
Exiting Tips From One Of The Top 40 Under 40
Wind Mobile founder Anthony Lacavera has started 12 businesses, six of which he has exited. His exits have ran…
Which Is Better, a Financial Buyer or a Strategic Buyer?
If you decide to sell your business to an outside acquirer, you’re going to have to decide between a fin…
The Build vs. Buy Equation
If you’re wondering what your business might be worth to an acquirer, there is a simple calculation you …
Learning From Acquisitions That Fall Apart
John McCann sold The Bolt Supply House to Lawson Products (NASDAQ: LAWS) at the end of 2017. McCann’s st…
How To Lure A Giant Like Facebook Into Buying Your Company
A great business is bought, not sold, so, if you look too eager to sell your business, you’ll be negotia…
Why Startups Stall
Have you ever wondered why startup companies stop growing? Sometimes they run out of potential customers to se…
5 Lessons From Home Depot’s Acquisition of Blinds.com
Jay Steinfeld built Blinds.com into a $100 million e-tailer before selling out to Home Depot. Here are five th…
Did Microsoft Overpay for LinkedIn?
Microsoft’s recent $26.2 billion acquisition of LinkedIn provides an illustrative example of a strategic…
How To Get a Big Company Multiple For Your Business
Big public companies trade at a significant premium over small businesses in the same industry because investo…
5 "Strategic" Ways to Sell Your Company
Did you see the news that Facebook has recently acquired Internet messaging service WhatsApp for $19 billion? …
Caution: Do Not Poke the Giant
On June 1, 2011, both Floyd’s Coffee Shops in Portland, Oregon were busier than usual. The regulars were…
Seven Powerful Ratios to Start Tracking Now
Doctors in the developing world measure their progress not by the aggregate number of children who die in chil…
What Your Birth Certificate Says About Your Exit Plan
In our experience, your age has a big effect on your attitude towards your business and how you feel about one…
The Danger of Market Timing the Sale of Your Business
The other day I was speaking with a successful CEO in his fifties who runs a heating and air conditioning comp…
Quotes About Money
“An investment in knowledge pays the best interest.” - Benjamin Franklin “No man can become …
Solving the Problem of “Wearing Too Many Hats”: Delegation and the Leveraged Model
The growth of any enterprise is dependent upon two factors: revenue and capacity. Driving enough revenue to cr…
Organizational Structure
An organizational chart is a powerful tool that should be frequently studied in order to better understand how…
Your Greatest Asset
The unique value of a nonprofit organization lies in its people. Nonprofit executives and employees bring to t…
Human Resources: Recruiting, Compensating and Evaluating Your Greatest Asset
Any organization that brings together different people to work toward a common goal faces the challenge of coo…
Program Benchmarking
Thirty years ago, there was this belief in the nonprofit industry that “you can’t measure charity&…
Marketing for Nonprofit Organizations
Marketing is something that every nonprofit knows they should do. The challenge is knowing what marketing invo…
What Do You Do When You’ve Accomplished Your Mission?
Does the dissolution of a non-profit mean that in some way the organization has failed, or can it mean the org…
Collaboration and Merger Options for Nonprofits
The number of nonprofits in the United States continues to grow at a more rapid pace than business. While this…
Measuring Your Mission
Every nonprofit has a mission statement that defines the organization’s reason for existence, and this s…
Creating a Mission Culture
Your organization’s mission statement is short enough to memorize. The statement is posted on ever…
From Mission to a Compelling Case for Support
Who benefits from your work and why is it important to the community? What makes you different than othe…
Mission Drift
As a new year begins, nonprofit organizations have high expectations and a vision for growth. Each year passin…
Mission Statement and Mission Fidelity
Everyone has a mission statement, and therefore, everyone agrees that a mission statement is important, right?…
The Annual Budget
As the calendar year draws to a close, non-profit executives are focused on end of the year giving. While gran…
Essential Groundwork to Create and Control Your Annual Budget
Nonprofit boards have a fiduciary duty to effectively manage the assets of their organization. Approving the b…
Budgeting Based on Fundraising Performance
The budget in a nonprofit organization is a key but often overlooked management tool. This resource will …
How to Budget for the Grey Areas: Marketing, New Programming and Facility Expansion
A successful nonprofit will have budgets for operating and capital expenditures, and the budget should work wi…
Cultivating Major Donors Through Smaller Dinner Events
Personal connections and interactions are essential when soliciting and establishing a base of donors for your…
Donor Fatigue: The Key To Keeping Donors
Donors are the lifeblood to any nonprofit organization. Just as much as your nonprofit needs passionate people…
Expanding Your Donor Network
As much as nonprofit organizations try to retain donors, there are always a number who will drop off the donor…
Mining for Gold: Analyzing Your Donor Database
In previous resources, we have discussed the importance of establishing and maintaining a donor data…
Donor Reporting
Nonprofit executives put a tremendous amount of time and energy into raising money. They spend an equal or gre…
Identifying a Major Donor for Cultivation
Throughout the nonprofit sector, major donors are a key focus. “Cultivation” of these donors, as i…
From Excel Spreadsheet to Donor Database
Donor cultivation is the key to sustainability for any nonprofit organization. One of the best ways to maximiz…
The Well-Rounded Executive
To be a well-rounded executive, it is important to understand all of the various aspects of running an organiz…
Perpetuating Your Mission: Succession Planning for Nonprofits
Over the last decade, much has been written about the changes that are beginning to affect the economy with th…
Selecting Professional Services
Every nonprofit regardless of its size, location or mission faces the same administrative minutia, and it has …
The Nonprofit Super Hero: Founder’s Syndrome
Many organizations are created from a passion or a recognized need in society. Founders realize these needs an…
Build a Board
Overview This resource focuses on the Executive of a nonprofit organization. Executives are tasked with a…
The Right Relationship: The Executive Director, the Chairman of the Board, and the Board of Directors
Whether you are a business or a nonprofit, proper corporate governance is essential to successfully executing …
Resource Allocation
What are the standards? A common question we hear among Executive Directors is “what percentage of total…
Collaboration of Financial Systems for Nonprofits
A nonprofit is typically established by an individual or a group of individuals who see a need and have a visi…
Nonprofit Financial Ratios
As the funding environment continues to remain competitive, donors and stakeholders increasingly want nonprofi…
Nonprofit Tax Risks
Nonprofits are looking for ways to increase their income. While there are many ways to augment charitable dona…
Increase your Donor Base with an Annual Report
The non-profit leader’s momentum of “doing” is interrupted by a heavy dose of “reporti…
Staying Competitive with Accurate, Timely Financials
The rising competition for donated funds has forced charities to increase the level of professionalism they de…
Minimizing Risk with Nonprofit Insurance
Protecting your organization is a critical part of your nonprofit management. Nonprofit insurance minimi…
Donations: A Nonprofit’s Roles and Responsibilities
The majority of donors do not contribute to an organization solely because they will receive a tax deduction.&…
Considerations for Nonprofit Collaboration
Nonprofit organizations are often under intense pressure to stretch their resources. Collaboration is one pote…
Strategic Planning for Nonprofit Organizations
As a nonprofit organization grows, changes program focus or has staff turnover, they often experience one of f…
Short-term Planning and the Annual Report
Annual Strategic Planning Short-term planning is essential to all organizations and businesses as it gives pra…
Duties of a Nonprofit Board of Directors
Understanding the IRS rules for your organization can be a daunting task for many nonprofits. To assist each o…
Advisory Boards
If managed correctly, advisory boards are a great way to improve your nonprofit. For this resource w…
Tips for Running an Effective Board Meeting
The role of the Executive Director and the Board of Directors is a complementary relationship. That bein…
Five Steps to Board Building
Board Building involves targeting, identifying, and recruiting ideal members to assist in the governance and e…
Forming and Using Committees Effectively
A board of directors is an integral part of every nonprofit, and the work of the board can be enhanced by the …
Board Assessment
The board of directors is a critical component of a nonprofit organization. Because new members join the board…
Tools to Make the MIDBI Calendar Successful
As we enter another year, nonprofits should take the time to implement a fundraising strategy. Your organizati…
Forecasting Revenues
Forecasting revenues is important for all business owners in order to manage cash flow and respond to changing…
Accessing Capital
Small business owners contribute heavily to the creation of jobs and expansion of our economy. According to th…
Strengthening Key Business Relationships
As the year comes to a close it is important to review the relationships that made your company successful in …
Year End
In this resource, we focus on items to remember as you wrap up the current year and the finalization of the bu…
Taxation in the Budget Process
The Giersch Group recommends that companies using a calendar year should develop a budget. The key is to build…
Proactive, Not Reactive: The Importance of a Budget
As small business owners know, it is hard to plan ahead. Budgeting is one tool to help forecast your financial…
Slimming Down the Budget: Understanding Cost Cutting
Today’s continued economic situation continues to apply pressure on many businesses. In establishing the…
Using the Balanced Scorecard as a Budgeting Tool
Many business owners assume that the budget process is simple and can be easily estimated. However, it i…
The Budget Process
It is especially vital that each owner is aware of cash needs and designs best and worst-case budget scenarios…
The Cash Flow Budget Process
A Cash Flow Budget Example for Small Business Owners The basic principles for budgeting can be found in our r…
Stewardship and the Family Business
Introduction According to Miriam Webster, stewardship is the conducting, supervising, or managing of something…
Year-End Maximization
When entering the fourth quarter, it is important to focus on finishing this year well. While many urgent…
Finishing Strong: Time to Buy or Sell
This resource will discuss the reasons around whether it is time to buy or sell a company. We will furthe…
Surviving the S Curve
Why do most start-up businesses fail within the first five years of opening? The fact that they do is we…
Business Cycle Preparation
Business Cycles A business cycle is the economic fluctuation that happens over periods of time. A busine…
Running Your Company with the Exit Strategy in Mind
At the Giersch Group, we believe that a systematic approach to strategic planning lays the foundation for good…
Strategic Planning Implementation
Developing a strategy is important but a strategy is only effective when it is implemented. If your company st…
Capital Structure Strategies for the Generations
We believe small business owners need to understand the capital structure of their company and the tools that …
Strategic Planning & Propensity of Risk Avoidance
At the Giersch Group, we believe that a systematic approach to strategic planning lays the foundation for good…
Strategic Planning
It is important to focus on developing a longer term strategy for your company. However, in order to develop a…
Customer Surveys
Customer perception is one component of understanding how your products and services fit in the market place. …
Market Position: Company Strengths and Unique Market Position
Why do some people eat at the same restaurant time after time, visit the same salon, or are adamant about usin…
Market Position: Your Threats Relative to Your Competition
In evaluating the market position of your company, understand your business through the utilization of a SWOT …
Maximizing Opportunities for Market Differentiation
The SWOT analysis aids in understanding the market position of your company. In previous resources, we fo…
Market Positioning
We want to encourage you to use periods of lighter business activity for strategic planning, laying the f…
Company Operating Policies and Procedures
One of the easiest ways to make your organization more efficient is having clear, centralized documents outlin…
Technology Systems to Maximize Operations
This resource examines various technology systems for entrepreneurs and small to midsize businesses to conside…
Systems Review
This resource focuses on reviewing the development and implementation of business systems which are desig…
Risk Management
For the purposes of this resource, the Giersch Group teamed with Mazey, Reed & Brey Insurance Agency …
Inventory Management
In today’s economy, every company is looking for an edge. Knowing how much inventory to hold and how to …
Technology Systems to Maximize Customer Relationships
Although networking should be a priority for you and your business, it can produce its own problems. An …
Cash vs. Accrual Accounting - Why Your Checkbook Isn’t Enough
Accounting can be overwhelming for many small business owners. Driving revenues, increasing cash in the bank, …
How to determine your company's net cash position
Reducing the road blocks to getting paid The current economic situation causes small businesses to foc…
Collection Process
Collecting payments from your accounts receivable is almost always an undesirable activity for small business …
How to Improve the Efficiency of your Cash Flow Cycle
Master the basics of cash flow management & grow your business Entrepreneurs know that “cash is king…
Gross Margin Concepts for Professional Service Firms
The key component of product mix is the gross margin of the differing products. In this resource, we consider …
Pricing Strategy in the Frozen Ocean
One of the most difficult parts of selling any product or service is finding the right price that will both gi…
Product Mix
Some questions you may want to ask when reflecting on the product mix include: What items are currently a part…
Performance Reviews
This resource is performance reviews. This resource is to help small businesses develop and apply e…
Organization Chart Utilization for Growth
Whether you are a start-up company or an organization with 100 employees, the organization chart is a tool tha…
Avoid the Death Spiral: Investing in Your Employees and Increasing the Bottom Line
This resource is designed to highlight the relationship between investment in employees and growing the compan…
Employee Benefits: Small Business Approaches
The benefits package comes under scrutiny prior to pay cuts. While cutting benefits may not be a preferable ch…
Compensation Planning
This resource focuses on the development of a compensation plan that matches the strategy of your company. Top…
Cost Accounting and Break-Even Analysis
Financial reports are an under-utilized tool for small business owners, but they are the key to understanding…
Creating Timely, Accurate Financial Statements
The Giersch Group views financial statements as foundational for properly operating a business. A c…
Product Mix and Profit and Loss Statement
The Giersch Group has found that many small businesses struggle with the use of financial statements to a…
Pricing Strategy
Pricing strategy helps your business maximize net income. In this resource, the Giersch Group discusses the st…
Calculating & Paying Quarterly Estimated Taxes
The Giersch Group helps businesses of all sizes with quarterly tax payments. Small Business Quarterly Tax Ad…
3 Small Business Tax Planning Essentials
Every year, the tax code is updated to reflect changes made during the previous year. Knowing these changes en…
Tax Strategy Tips: Understanding Distributions, Dividends & Compensation
The Giersch Group recommends that companies review their tax strategies for the upcoming year. Many tax …
Focusing Your Marketing Strategy
As businesses enter into the New Year, it is essential to have a plan. Part of this plan is having a budget. O…
Push & Pull Marketing
Foremost in the minds of business owners are how they will increase revenues in the current economic environme…
Marketing Strategies
January begins the new year, the new budget, and the need for revenue growth. Therefore marketing presents its…
Marketing Strategies for a New Year
January begins a new year. At the Giersch Group we recommend that clients start the year by looking at their m…
Cultivating Your Customers
Nonprofit organizations have much to learn from for-profit organizations. However, one area where nonprofits e…
Building Your Brand
A strong brand helps a company in five different ways: clarifies the company’s value proposition, aids i…
Marketing vs. Sales
The difference between marketing and sales has been hard to define for many business owners. Businesses …
The Marketing Cycle: An Overview
Marketing is often thought of as a static, one way attempt to increase sales. Super bowl commercials, highway …
Tax Planning: Which Organization Structure is Best?
Our resource is designed to create an orderly review of the various aspects of a business. This allows managem…
Tax Planning
Rather than viewing taxes as an annual event, year-round preparation can reduce stress. This begins with organ…
Key Performance Indicators
Identifying & Utilizing KPI to Grow Your Business Imagine driving a car without a dashboard showing engine…
Gross Margin Analysis
Maintaining a profitable business involves more than just selling products and services to increase revenues. …
Cost Decision Making for Managers
For a small business owner, knowing the cost characteristics of the company’s products and services is e…
Liquidity and Solvency Ratios
It is crucial to focus on the use of liquidity and solvency ratios in managing available cash in your business…
Monthly Financial Report: Example for Small Business
A monthly financial report allows management to make timely decisions regarding the business. Quarterly or ye…
Cash vs. Accrual Accounting For Non-Profits: Which is Right for Your Organization?
While many commentators are suggesting that nonprofits need to adopt accrual accounting, not every Executive D…
More About the Importance of Strong Financial Data
Small businesses and grassroots nonprofits tend to suffer from three recurring headaches: Not Enough Revenue …
Internal Controls
Why do Internal Controls Matter? Firstly, internal controls are put in place to protect company assets and red…
What is a business model and what should my business model be?
Your business model is way in which your company turns revenue into profit. Your business model is best …
How the Right Bookkeeper can Help Your Small Business Take Off
It’s Review Time, but How Do I Review My Bookkeeper? For the owner operated businesses under $10M that w…
The Importance of a Financial Model for Forecasting
Many companies develop an annual budget based on their Profit and Loss Statement for the coming year. While th…
How does goodwill impact my small business?
When we consider what a business is worth, whether to buy or sell, there are many factors that determine value…
What is depreciation and how does it impact my business?
Depreciation is a process of recoding the cost of a major purchase over time. It is a result of the fact…
Five Questions You Must Answer If You’re Going to Grow Your Business
Small businesses often have a hard time breaking through the next barrier, whether it be the $1M, $5M or $10M …
General Contractor Markup Guide
A general contractor's markup depends on the profit margin they are looking to obtain. If you are looking…
How reviewing your business financial statements pays off
Reveal the truth about your business in three basic financial statements Have you ever wished you co…
5 factors determining optimal small business cash reserves
How much cash reserve should a small business have? For companies with strong cash positions, their question i…
Bookkeeper vs. Accountant vs. CPA vs. Controller vs. CFO
What is the difference between a bookkeeper and an accountant? What can a CPA do that an accountant can't? Und…
Top 5 important financial concepts for your business
Milwaukee small business owners should understand these essential There is no end to what you could know …
Financial Accounting and Managerial Accounting
We start this series with a look at the difference between the two most basic types of accounting: financial a…
The Small Business Owner’s Guide to the Balance Sheet
In our work with small business owners and nonprofit directors, we find that many of them have a good grasp of…
The Small Business Owner’s Guide to the Family Business
According to Merriam Webster, stewardship is the conducting, supervising, or managing of something; especially…
The Small Enterprise Guide to Management
When we hear the word management we think of many different things – human resources, hierarchy, “…
Management Accounting Services for Small Business Owners & Nonprofit Managers
When we hear the word accounting we think of many different things – bookkeepers, CPAs, taxes, audits, etc. While small business owners have a healthy respect for the importance of accounting, they can be unsure of how all the pieces fit together. There is often a lack of clarity as to what they need in the way of accounting for their own business, how much money to spend on it, how much time to focus on it and even what to do with the information provided by it.
To “do an accounting” signifies that you are keeping track of something and in most cases, accounting refers to efforts to keep track of the most important element of your business – the money. To the inexperienced, this often proves to be much harder than it sounds.
The Giersch Group has produced a series of papers on the topic of accounting for small business owners, family-run businesses and nonprofit managers to bring clarity and guidance on this important topic. You can also visit our bookkeeping FAQ page or contact the professionals at Milwaukee's best small business bookkeeping firm for more information. We're happy to answer your questions or schedule a free consultation for your business.
