Five Questions that Every Audit Committee Should Ask
The Audit Committee’s ability to evaluate accounting operations can be especially difficult because of the dependent relationships between Senior Management, the Audit Committee, and the Independent External Auditors (including their desire to retain the client).
In advising our clients’ Boards… Continue reading
Simple Steps to Help Avoid (Or Catch) Corporate Embezzlement
This week I received two calls informing me of embezzlement by two trusted CFO’s, one from a charity I contribute to and the other a private company. No organization is immune, but there are always some simple principl… Continue reading
How to Really Forecast Cash Flow
Unfortunately, the great majority of companies use the same format for internal cash flow forecasting as they do for their annual financial statements. This format is at best a poor substitute for a useful management tool and at worst a… Continue reading
Proper Care and Feeding of Your Software
By John Cohen
As Process Improvement Consultants, we are often involved in software evaluation and software conversions. One of the most prevalent mistakes we see is the notion that once a software package is successfully installed, no further… Continue reading
Common Problems Selling Your Business and How to Avoid Them
By John Cohen
If you are thinking about selling your business – even if several years away – these simple tips will make your journey easier and put money in your pocket.
1. Pick your professional advisors early and carefully.… Continue reading
Three Problems You May Not Know You Have
by John Cohen
At least four of our clients this winter and spring exhibited some common and costly mistakes which well-meaning – and otherwise competent – organizations make. Unfortunately, the costs generally don’t reveal themselves until “the horse is out… Continue reading
Is Your CEO Too Diligent?
by John Cohen
Many CEO’s control virtually all contact between the organization and the (independent) Board of Directors. This practice may reflect the diligence of the CEO but also creates potentially serious risks to the organization and to the… Continue reading
Quick and Painless Monthly Closings
By John Cohen
Every accounting department we have ever known is at least one employee short, and monthly closings too often rely on the Controller’s willingness to work long nights finishing the financial statements in the nick of time. … Continue reading
Painless Annual Audit Preparation
Practical Advice for Businesses and Nonprofits
By John Cohen
Every accounting department we have ever known is at least one employee short, and preparation for the annual audit too often relies on the Controller’s willingness to work long nights finishing… Continue reading
Employees – The Good, the Bad, and the Weak
By John Cohen
One of the benefits we provide our clients with is an evaluation of employees from an outside observer who has no axe to grind. Most employees are good, upstanding people, and it… Continue reading