Category

Finance & Accounting

October 2020: Tips for Business Leaders to Respond to COVID

By | Business Consulting, Finance & Accounting, Human Resources

Top tips for business leaders to respond to COVID – Best practices to embrace for success

The pandemic has tested all organizations and their ability to adapt to a world of virus risk and social distancing. Adapting the work environment to stay viable has meant embracing remote work, redesigning office space, and virtually connecting. The impact of COVID-19 on employee morale, expenses, and budgets has business leaders reevaluating the contours for our next phase of normalcy.

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September 2020: Big Data & Small Organizations

By | Business Consulting, Finance & Accounting

BIG DATA & SMALL ORGANIZATIONS – Learn to use data as a decision making tool

By: Scott Warren and David Nelms

“Big data” isn’t just for big companies. Many organizations feel they are too small for “big data,” but data size is relevant to the size and complexity of the organization. All organizations have a preponderance of data that can help them make better decisions. Actively and consistently using actual data to inform allows organizations to track results and outcomes of decisions and, ultimately, can point decision-makers in the direction needed to identify problems or opportunities.

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August 2020: What Do Great Leaders Do Next?

By | Business Consulting, Finance & Accounting, Human Resources

What Do Great Leaders Do Next?

Leaders’ successes typically revolve around the ability to develop and implement brilliant visions.  They help their staff move forward in their careers; they build their organizations; they make their communities better places.  The blur of health and social trauma over the last five months (with no end in sight) gives leaders a very different challenge.

It’s hard to create a brilliant vision with this level of uncertainty; it’s hard to help people advance in their careers when a computer screen is the only connection; it’s hard to find the energy to move forward when the race is a marathon and the footing is muddy.

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July 2020: Our Brave New World- How to keep employees engaged while planning for uncertainty

By | Business Consulting, Finance & Accounting, Human Resources

Most businesses have moved beyond the initial shock of the COVID-19 pandemic and are adjusting to a new reality. Now, organizations need to remain flexible and devise strategies to keep their workforce engaged while planning for uncertainty. With the unpredictable nature of the pandemic, businesses are faced with repetitive attempts at forecasting and budgeting. Projections need to anticipate multiple scenarios to pivot quickly. Another challenge is managing employee burn out, morale, and feelings of being disconnected.

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June 2020: HOW CAN YOUR BUSINESS BENEFIT FROM A FRACTIONAL LEADER?

By | Business Consulting, Finance & Accounting, Human Resources, Strategy, Technology and Operations

HOW CAN YOUR BUSINESS BENEFIT FROM A FRACTIONAL LEADER?

And steps to find the right firm. 

For those not familiar with the concept of fractional leadership, it is an efficient and cost-effective model for businesses to outsource functions when they do not have the expertise in-house or are going through a transition. This form of leadership offers an objective perspective and can guide businesses when faced with challenging decisions. Their role is to become a trusted advisor, lead through change, and offer unbiased advice.

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May 2020: RETURN TO WORK STRATEGIES

By | Business Consulting, Finance & Accounting, Human Resources, Strategy, Technology and Operations

RETURN TO WORK STRATEGIES – How to navigate and protect your business for a smooth transition.

 As Virginia starts a phased reopening by easing “stay at home restrictions,” businesses need a well-thought-out transition plan.  Your plan should take into consideration not only your employees’ and customers’ health and safety, but also fiscal stability, strategic direction, and technology. This multi-layered plan must address regulations, the environment, and internal communications as well as the emotional well-being of your employees. Flexibility is critical, and your business will need to be positioned to respond to a changing landscape as the situation evolves.

When devising your plan, consider these pieces of advice from our team in the 4 areas we serve our clients.

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February 2020: Job Cost Accounting – What it is & why it matters

By | Finance & Accounting

Author: Mike Kelly

All businesses, regardless of size and industry, have one thing in common — the need for accurate financial reporting.  However, a one-size-fits-all approach to keeping your books will not work. In particular, certain businesses need to be very proficient with Job Cost Accounting as they accumulate costs of materials, labor and overhead. These types of companies include manufacturers as well as real estate and related industries like developers, architects, and contractors.

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December 2019: A CEO’s Guide to Secure Financing for your Growing Business

By | Business Consulting, Finance & Accounting, News

Author: Stephanie Ford

Good news/bad news: Your business is expanding and achieving projected growth. The rush of growth is exciting, but it comes with a new challenge – access to capital to maintain momentum. In any credit market, financing can be tricky to obtain. You might already know this first hand — have you applied for a commercial loan and been rejected? Feeling anxious and unsure how to move forward? Here are steps to best prepare for your next meeting with a commercial banker.

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September 2019: Fraud — Threat & Reality in your Business

By | Finance & Accounting, News

Contributor: Richard Kannan, Warren Whitney Finance & Accounting Director

The larger the company, the bigger the risk of fraud, right? Well, not necessarily. On a relative basis, smaller organizations may be at greater risk. The average fraud loss for companies with less than 100 Employees is $200,000, versus larger businesses where the average fraud loss is $104,0001. Fraud losses occur when there are NOT proper controls put in place. When small to medium-sized businesses have a leaner accounting team or one person with too much authority, they become vulnerable. The fact is that inadequate controls create opportunities for fraudulent activities.

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