Category: Articles

Articles are written by NOW CFO consultants and industry experts on topics ranging from financial best practices,  commentary on trends or changes in regulations, or around the benefits of hiring a fractional, outsourced, or temporary CFO, Controller or accountant.

Financial KPIs to Keep Your Business on Track in 2023

Financial KPIs to Keep Your Business on Track in 2023

It’s likely that your end-of-year and beginning-of-year planning led you to analyzing your business’ performance and setting goals for the new year. However, it’s crucial to have a strong foundation of key performance indicators to be able to measure those goals, ensuring that your business meets its objectives in 2023.

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5 Mistakes That Can Complicate an Audit

5 Mistakes That Can Complicate an Audit

A business audit—be it internal, external, or from the IRS—can be a stressful experience for unprepared business owners. However, audits are excellent tools for an organization to both provide necessary information to external stakeholders as well as to gain further insight into internal financial reporting and operational processes.

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Improving Cash Flow in the New Year

Improving Cash Flow in the New Year

For small- and medium-sized businesses, cash is king. When times are tough, and when the market shifts, steady cash flow and liquidity can help your business continue to pay its expenses and make payroll on time.

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Best Practices for Financial Planning

Best Practices for Financial Planning

As your small business begins to grow into a mid-size business, every aspect of the company becomes more complicated. Manual processes and cash-basis accounting become less efficient, and the need to have more robust software, internal controls, and financial procedures becomes increasingly important.

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Improving Your Business’ Financial Plan in the New Year

Improving Your Business’ Financial Plan in the New Year

As your business heads into 2023, now is the ideal time to review your financial processes from the prior year. How frequently did you receive financial reports? How many of your decisions were backed by financial data? How well did you safeguard your business against fraud? How often were there errors in your financial data? If your answers to these questions are less than ideal, it may be necessary to dedicate time to reviewing your financial plan.

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Building an Annual Operating Plan for 2023

Building an Annual Operating Plan for 2023

The beginning of the year presents an excellent opportunity to reflect on the strong and weak points of your business. By now, you’ve probably thought about areas that you want to grow, change, and improve in the new year, as well as processes that are working well and should be maintained.

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Financial Areas to Focus on in the New Year

Financial Areas to Focus on in the New Year

With every new year comes the opportunity to set new objectives for your business, apply lessons learned from the year before, and grow a little bit more. As January approaches, now is the time to begin thinking about what you want your business to achieve in 2023.

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