CFOs Need More Than Accounting Skills: What to Look for When Hiring
Are you in the market for a new CFO? Recent findings reveal that hiring managers are seeking more than just financial expertise when evaluating CFO candidates. According to executive recruiting firm Crist Kolder, only 38.5% of CFOs at Fortune 500 and S&P 500 companies were licensed CPAs in 2023. So, what additional skills are essential […]
Optimizing Your Working Capital: Strategies for Success
Effective management of working capital is crucial for the success of any business. Yet, recent findings from The Hackett Group, a leading digital transformation and AI strategy consulting firm, reveal a concerning trend: businesses are not managing their working capital as efficiently as in the past. The study shows a decline in all aspects of […]
Essential Tax Responsibilities When Closing Your Business
Despite improvements in various economic sectors this year, rising living costs and other economic factors have led many businesses to close. If you’re facing this situation, we can assist you with managing the various tax responsibilities involved. Filing the Final Tax Return When closing a business, you must file a final federal income tax return […]
Four Bookkeeping Pitfalls for Small Businesses to Avoid
Accurate bookkeeping is essential for operating a successful small business. Inadequate bookkeeping practices can lead to significant, long-lasting consequences. Here are four common pitfalls — and how to avoid them with the right knowledge and tools. 1. Commingled Bank Accounts Maintaining a dedicated bank account for business transactions is crucial. Using personal accounts for business […]
