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Why Your Accountant Should Be Your Business’s Most Important Advisor—Not Just a Tax Preparer
 Why Your Accountant Should Be Your Business’s Most Important Advisor—Not Just a Tax Preparer 1024 796 Rock Creek Consulting Group
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When most business owners think about their accountant, they imagine someone who prepares tax returns, manages compliance, and sits behind a desk all day long. And while those are essential services and what many accountants do, stopping there means missing out on one of your most powerful business growth tools. A great accountant can (and…

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Self-Audits: Staying on Top of Important Trends in Your Business
 Self-Audits: Staying on Top of Important Trends in Your Business 1024 536 Rock Creek Consulting Group
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Busy leaders need to focus on the needs of customers, prospects, employees, regulators, suppliers and so on. However, we encourage these leaders to also take an active interest in the FINANCIAL health of their business.  Conducting a periodic self-audit or financial health check helps identify areas for improvement and ensures the business remains on track…

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Best Practices in Tax Planning for Business Leaders
 Best Practices in Tax Planning for Business Leaders 1024 536 Rock Creek Consulting Group
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Here are some guidelines to help business leaders manage their tax affairs, in conjunction with their Accountants. Effective tax planning helps minimize tax liability, ensure compliance, and improve cash flow.  Put Tax on the Leadership Agenda Waiting until the end of the financial year limits options. Start early and actively engage in tax planning. Develop…

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Recruitment in 2024: How Leaders will Attract Talented Employees
 Recruitment in 2024: How Leaders will Attract Talented Employees 1024 536 Rock Creek Consulting Group
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Recruiting employees is challenging for many businesses. Leaders need talented and loyal teams… So how are they responding to the changing recruitment landscape? Here are some recent trends. Virtual Recruiting Virtual recruiting has taken hold. It was once unthinkable that an employee could be hired without an in-person meeting with their manager. Virtual recruiting means…

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Engaging a ‘Virtual’ or ‘Fractional’ CFO
 Engaging a ‘Virtual’ or ‘Fractional’ CFO 1024 536 Rock Creek Consulting Group
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Not all businesses need (or can afford) a full-time head of finance. But, in addition to accurate and regular financial reporting, they need a strategic view of finance whether that means budgeting, business planning, forecasting, fundraising, financial modeling, acquiring a business and so on. Outsourcing Outsourcing is a common way to save overhead… and ‘remote…

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7 Ways Businesses Avoid Cyber Fraud
 7 Ways Businesses Avoid Cyber Fraud 1024 536 Rock Creek Consulting Group
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In a world of digital financial networks and online commerce, the risks of cyber fraud are greatly increased. What is cyber fraud? Cyber fraud is criminal activity that either targets or uses a computer, a computer network or a networked device. Usually cybercriminals or hackers set out to make money… but some have political or…

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6 Ways to Improve Cash Flow by Managing Receivables (Collections)
 6 Ways to Improve Cash Flow by Managing Receivables (Collections) 1024 683 Rock Creek Consulting Group
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All businesses should carefully monitor their cash position. Healthy cash reserves enable investment in growth, allow distributions to owners or – for some businesses – can be a matter of survival. In any case, cash management is critical. One way to improve the cash position is to carefully manage Accounts Receivable (or collections). Here are…

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9 Ways to Strengthen Financial Controls in a Remote Work Environment
 9 Ways to Strengthen Financial Controls in a Remote Work Environment 1024 536 Rock Creek Consulting Group
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Employing remote workers presents additional challenges related to financial controls.  Managers and employees may not believe they are at risk but studies by the Association of Certified Fraud Examiners show companies with less than 100 employees are more likely to lose money to fraud.  Leaders need to demonstrate the importance of improving financial security and…

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9 Ways to Reduce IT Costs
 9 Ways to Reduce IT Costs 1024 536 Rock Creek Consulting Group
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One expense that can grow out of control in many businesses is Information Technology (IT).  Tweaking investment in IT increases performance and profitability and sometimes major cutbacks are necessary. Either way, it’s best to be systematic. Here are some ways to economize on IT spending.  Audit your tech stack The first step is to understand…

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Reviewing Costs… to Increase Cash and Drive Profits
 Reviewing Costs… to Increase Cash and Drive Profits 1024 536 Rock Creek Consulting Group
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All businesses should review their expenses periodically.  Prudent expense management helps ensure that valuable cash resources are used wisely. And sometimes, a business may NEED TO reduce expenses as a matter of survival. No matter what the circumstances, here are some Best Practices in reviewing and managing expenses. Look first at non-core functions When cost-cutting,…

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