I used to like cookie jar accounting earlier in my career. But now I don’t. When I was younger, I thought, “Oh, that’s just being conservative.” And in my misguided naivete, I also didn’t have a problem with smoothing out earnings (positive) hiccups which could be used for a rainy day. But it’s also a […]
I find cleaning out a garage about every 5 years (preferably longer) like running a marathon on flat terrain with no hills or beautiful scenery–it’s as though it will never come to an end. You will experience the same frustrations when you start looking under the hood of the general ledger accounts storing all of […]
I’ve never been a fan of any company stating they are a business of integrity on their website. I believe integrity is best caught rather than taught. Accordingly, walking the talk versus talking the talk is far more attention-grabbing. And that’s why I want to give a standing ovation to one of the business developers at […]
There’s a reason financial executives hate collecting (or chasing) money from slow-paying customers. We just hate it. You say you enjoy it? You’re crazy! In the name of chilling out on such a frigid topic, I thought I’d share some of the suggested column headings for your AR aging schedule.
I’ve been mentoring and coaching CEOs as their 1099 CFO and Controller since 2001. And here’s a question I can bank on after about our 128th meeting–“Mark, can you explain that cash flow statement again?” Let’s start with a simple multiple choice question: Which of the following statements is generally true with respect to cash […]
When I’m working on financial models, I like lots of flexibility. And that’s why I rarely use Excel for these projects. I generally use one of two financial modeling tools–one of those is Quantrix. Flexibility? Absolutely–more so than Tony Horton’s when he does Yoga X in P90X. Excel Is Hard to Manipulate When It Comes […]