Why it’s important to get your company’s financials done on time

March 18, 2024

Have you completed your company’s year-end financial statements yet? Most calendar-year entities issue their year-end financials by March of the following year. Lenders and investors may think the worst if a company’s financial reports aren’t submitted in a timely manner. Here are three assumptions your stakeholders could make when your financial statements are late. 1. […]

Cash vs. accrual accounting: What’s the difference?

March 18, 2024

Financial statements are critical to monitoring your business’s financial health. In addition to helping management make informed business decisions, year-end and interim financial statements may be required by lenders, investors and franchisors. Here’s an overview of two common accounting methods, along with the pros and cons of each method. 1. Cash basis  Under the cash-basis […]

Making the most of your nonprofit’s social media accounts

March 15, 2024

When was the last time you evaluated your not-for-profit’s social media strategy? Are you using the right platforms in the most effective way, given your mission, audience, and staffing resources? Do you have controls to protect your nonprofit from reputation-damaging content? These are important questions — and it’s critical you review them regularly. At the […]

Liquidity Overload: Why having too much cash may be bad for business

February 26, 2024

In today’s uncertain marketplace, many businesses are stashing operating cash in their bank accounts, even though they might not have imminent plans to deploy their reserves. However, excessive “rainy day” funds could be an inefficient use of capital. Here’s a systematic approach to help estimate reasonable cash reserves and maximize your company’s return on long-term […]

Encouraging charitable donors to include you in their estate plans

February 26, 2024

Even if current donations are your not-for-profit’s bread and butter, you can’t afford to neglect planned, legacy, or deferred gifts. These gifts, generally made through wills and living trusts, often are much larger. Your employees don’t need to be directly involved when donors establish gifts through their estate plans. But your development staff should know […]

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