Rock Creek Consulting Group
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…
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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…
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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…
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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…
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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…
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An important responsibility of leaders is figuring out how to fund business operations and growth plans. In the best case, a business will generate enough cash for operations, growth and…
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Key Performance Indicators (KPI‘s) are important management tools and we encourage business leaders to use KPI’s in their businesses. What is a KPI? A KPI is a quantifiable measurement or…
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We’re seeing more businesses engage REMOTE employees and subcontractors as they try to attract the best talent, regardless of location. Remote employment presents challenges, including ONBOARDING, which means helping employees…
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As Accountants, we hope our clients never face a business crisis… but we also know that business is unpredictable and factors beyond our control can leave a business in dire…
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Sometimes business leaders need to fundamentally change how things are done to grow profit or just to survive. This is termed ‘Business Reengineering’. What is Business Reengineering? Business Reengineering usually…
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Let’s start with a definition of Bad Debt. Bad Debt is an amount of money a creditor must write off after a debtor defaults. In other words, it’s the amount…
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As Accountants we like to see highly efficient businesses… because that leads to more profit, a higher valuation, and – usually – happier owners, managers, and employees! Automation is one…
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As Accountants, we like to see our Clients operating at high levels of efficiency and generating healthy profits. Many businesses invest a significant amount in human resources, including compensation, recruiting,…
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Business leaders rely on the accounting function for a variety of purposes. One of these is compliance, but leaders should have much higher expectations of their accounting function. Let’s look…
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The employment environment is constantly changing… as workers consider their options and businesses look for flexible, cost-effective solutions. Let’s look at some ADVANTAGES of working with independent contractors (or subcontractors). Independent…
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In business, there is such a thing as a “good problem”. In this article, we thought we’d focus on the good problems of needing financing. One example is a business…
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COVID-19 has significantly impacted employment, though the effect isn’t yet fully understood. Undoubtedly, there will be positive outcomes, like employees leaving unrewarding jobs to pursue new challenges. Likewise, some businesses…
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In some ways, from a financial perspective, managing a business isn’t so difficult. You grow revenue by attracting more customers or selling more to existing customers. You also try to…
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It’s good business practice to manage expenses carefully. Even a successful, cash-rich business should be meticulous about how they’re spending money. (Often that is how they become cash-rich and successful…
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Business leaders recognize the value of using data to influence decision-making. This has become easier due to cloud-based accounting solutions, better analytical tools, benchmarking, and other methods. But one crucial…
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Many businesses are facing increased costs. This isn’t necessarily a new business challenge, but the COVID-19 pandemic and other worldwide factors are driving significant and unpredictable “price spikes”. Let’s look…
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There’s a lot of talk about the impact of ‘remote work.’ Recent studies claim that workers are leaving jobs at much higher rates than normal. Some say that one-quarter of…
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Rock Creek Consulting Group is a full-service accounting firm dedicated to giving you the freedom to focus on your business and peace of mind in your individual financial matters. View…
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Humans are adaptable. That’s how we’ve survived for a long time! No surprises, then, that people have quickly responded to COVID-imposed changes, like complying with lockdowns, wearing masks, or working…
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Watching businesses deal with current business conditions reveals that some businesses are struggling for survival while others are going gangbusters. Companies at both extremes share one priority: carefully manage your cash. Here are recommendations…
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It’s not easy to lead an organization; it’s downright hard. Nowadays, it can be incredibly challenging, but many leaders have stepped up admirably and are running thriving enterprises. There’s no…
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Great businesses and projects start with an initial idea. BRAINSTORMING is the process of developing ideas which can be implemented in successful businesses. Occasionally, brilliant ideas can ‘just happen’. But…
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What Best Practices should you follow when conducting a Financial Review to ensure your decision-making is based on a thorough understanding of your business? This article provides pointers to help…
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Building a business can be a long, challenging process. One way to assess how you are doing is to VALUE your business… and then try to grow that valuation. This…
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In an uncertain business environment, staying on top of future cash needs is challenging… but essential. Scenario planning is one way to reduce risk and overcome uncertainties. What is…
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Employees play a critical role in the success or failure of a company. Not surprisingly, management tries to create a positive environment for the team. Some leaders say they can…
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When is the right time to sell your business? We hear replies ranging from “I don’t plan to sell my business” to “I’d sell it yesterday if I could!” One…
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You know how you can buy something online and not pay sales tax? Well, that may become a thing of the past because on Friday, the Supreme court announced that it…
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As a small business owner, you may never have thought of hiring a Chief Financial Officer (CFO). You may have a Bookkeeper and/or a CPA who files your taxes, but when is…
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You may be wondering “what the heck is a QuickBooks Certified ProAdvisor?” Sounds like someone who may know a thing or two about QuickBooks right? Well, turns out that’s exactly…
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When are meals 100% deductible? In general, you can deduct half of the cost of meals incurred for business purposes. However, did you know that you might be able…
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Summer is here! When I think of summer my head fills with visions of backyard barbecues, swimming, long hot days, and of course… moving. By far, summertime is the busiest…
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How do you link multiple credit cards in QuickBooks Online? One of the neat features with QuickBooks is that you can link your bank account or credit cards so that…
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