Five steps to adopt the new revenue recognition standard The new revenue recognition standard is here, and the time to implement those standards is now. As we discussed in our previous post, the standard set forth in IFRS 15 and FASB Topic 606 applies to almost all public and private companies and involves a whole […] Read more “The New Revenue Recognition Standard, Part II: The Five Steps”
Category: Accounting
Time to implement IFRS 15 and FASB ASC 606 Revenue Recognition Standards The time has come. Four years after the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) issued their converged guidance on recognizing revenue in contracts with customers, companies need to put pen to paper and implement the new revenue […] Read more “The New Revenue Recognition Standard, Part I: Why, What, and When”
How are you doing today? How about this week, this month, or this quarter? When it comes to your early stage business, knowing how your company is doing in several distinct respects is essential for the survival, profitability, and growth of your company. Key performance indicators (KPIs) are the vital signs that measure the health […] Read more “5 Key Performance Indicators for Start-Ups”
Every few years it seems, a new technological innovation emerges which promises to revolutionize the way businesses operate. What is now familiar and fundamental — email, cloud computing and storage, collaborative project management platforms – were once alien and often intimidating before they were universally adopted. Today, the revolution turns to “blockchain.” You may have […] Read more “Blockchain: What is It? Why Should You Care?”
Is hiring a part-time CFO or accounting freelancer a viable option for your business? Entrepreneurs by nature are overachievers. They believe in what they are doing and believe that they can do it all. But the reality is that once an early stage company gets some traction, all the entrepreneurial spirit, talent, and energy drinks […] Read more “5 Reasons to Outsource Your Start-Up’s Finance & Accounting Teams”
Quick tips to help your startup maintain healthy cash flow. If your brilliant ideas and strategy are the brains of your start-up, and your entrepreneurial passion and vision are its heart, then cash flow is the blood running through your company’s veins. If that flow is too weak or stops entirely, or you fail to […] Read more “3 Cash Flow Management Tips for Start-Ups”
His name is not on the 20,000 restaurants around the world that sell french fries, Egg McMuffins, and Big Macs to tens of millions every day. But Ray Kroc is the reason that a bus driver in Philadelphia and an accountant in Berlin can dine on the exact same food served exactly the same way […] Read more ““The Founder”: 3 Nuggets of Start-Up Wisdom from Ray Kroc”
2016 is in the books, which means your start-up’s books are about to take center stage as tax season begins. If you launched your business in 2016, this may be your growing enterprise’s first go `round with tax preparation. As much as you would rather be focusing your attention elsewhere, spending some time getting organized […] Read more “4 Simple Ways to Prepare Your Start-Up for Tax Season”
Early stage and start-up companies can invest in crucial research and development activities while pocketing significant – and now permanent – tax credits to offset the costs of those investments. The PATH (“Protecting Americans from Tax Hikes”) Act of 2015 allows entrepreneurs to commit significant resources to innovation and receive huge tax benefits even if […] Read more “The PATH Act is a Great Step Forward for Start-Up R&D Costs”
On Oct. 30th, 2015, the Security and Exchange Commission (SEC) adopted new rules around equity crowdfunding, signifying one of the final steps in fully enacting the Jumpstart Our Business Startups (JOBS) Act, which was signed into law in 2012. The rules went into effect in May 2016. Today, we’re here to give startup and small […] Read more “The Pros and Cons of the SEC’s New Equity Crowdfunding Regulation”
If we could impart one reality to our small business clients, it’s this: if you’re not intimately in touch with your business’s financial health, you’re leaving money on the table. Period. It’s important to start using accounting software, such as QuickBooks, earlier in your business and move away from the Excel spreadsheets. That’s why as […] Read more “8 Reasons To Use Accounting Software vs. Spreadsheets”
No online business is ever safe from data security breaches. But don’t make the mistake of taking this as a reason to forgo the necessary measures to protect your business data. Presented here are five strategies all businesses should employ to enhance the safety and security of business data online. Build a secure data infrastructure […] Read more “5 Ways Online Businesses Can Improve Data Security”