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Salt Lake City Bookkeeping Blog

How to Use Divestment to Downsize Business Interests or Assets

Posted by Leanne Armstrong on Oct 31, 2018 9:00:00 AM

The process of reducing business assets or selling off all or part of your company is known as divestment or divestiture. Business divestment effectively downsizes or eliminates your interest in your company and the property it owns.

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Topics: Business Divestment, Exit Planning, Growth Coach, Financial Forecasting, Cash Flow Management

How the “Rule of 78” Could Help You Reach Your Revenue Goals

Posted by Leanne Armstrong on Sep 12, 2018 9:00:00 AM

From yoga studios to hospitality services, many small businesses rely on multiple income streams to support their revenue goals. If your business activity lends itself to recurring sales, the Rule of 78 could be just the tool you need to take your company to the next level.  

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Topics: Financial Forecasting, Business Budgeting, Small Business Sales, Sales, revenue streams

What Every Business Owner Should Know About Forecasting Revenue

Posted by Leanne Armstrong on Aug 22, 2018 9:00:00 AM

Every business owner needs a budget to help keep their spending on track. Forecasting revenue is the ideal way to get an educated estimate of how much money your company is likely to earn, versus how much you can reasonably expect to spend over the coming year.

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Topics: Financial Forecasting, cash flow forecasting, Business Budgeting, Growth Coach

Financial Statements are Vital. Do You Know How to Read Them?

Posted by Leanne Armstrong on Jun 27, 2018 9:00:00 AM

Your business’s financial statements are vital for a number of reasons. Not only do they form the basis of accurate tax reporting, they make it possible to get approval for loans, attract business investors, and even sell your company when the time is right. But your financial reports are also an important diagnostic tool that can give you the power to measure and influence your organization’s performance. Isn’t it time you learned how to read them?

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Topics: Financial Reporting, Financial Forecasting, metrics, small business financial statements, Growth Coach

Small Business Expense Checkup: Are Your Costs Too High?

Posted by Leanne Armstrong on May 9, 2018 9:00:00 AM

Whether you’re budgeting for a new business or you’ve been operating for a while, performing regular expense checkups can help keep costs down and profits up.

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Topics: Expense Management, quickbooks expenses, Financial Forecasting

How Liquidity Ratios Help You Understand Your Cash Position

Posted by Leanne Armstrong on Jan 17, 2018 9:00:00 AM

Carrying out a liquidity analysis of your business will help you to better understand your cash position. And that’s important. Because the more favorable a cash position you maintain, the better your outlook for continued success.

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Topics: Financial Forecasting, Cash Flow Management, Cash Flow, Growth Coach

Is Your Small Business On A Road to Nowhere?

Posted by Matt Roberge on Nov 15, 2017 9:00:00 AM

I spend a decent amount of time in my truck driving by myself in remote places. I think that has something to do with being a fisherman in Montana.

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Topics: CFO Consulting, Growth Coach, Grow Your Business, Financial Forecasting

How To Hire Without Money

Posted by Matt Roberge on Sep 27, 2017 9:00:00 AM

If you intend to grow a successful business, you will most likely have to hire employees at some point. This is not to say that you can't have a successful business without employees, but you will definitely reach the limit of what you can handle by yourself.

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Topics: Hiring, Growth Coach, Cash Flow Management, Financial Forecasting

Difference Between Budgeting and Forecasting

Posted by Matt Roberge on May 17, 2017 9:00:00 AM

Business and finance are two interdependent fields yet two separate disciplines. Running a business often means focusing on day to day operations and developing a product line or menu of services within your core area of expertise. Larger financial issues like budgeting and forecasting get pushed aside for many reasons.

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Topics: Business Budgeting, Financial Forecasting

Essential Guide to Business Financial Planning

Posted by Leanne Armstrong on Mar 17, 2017 9:00:00 AM

Does your company have a financial plan to help pave the way to future success? Financial planning for businesses is a key component in understanding your organization from a dollars and cents perspective, both today and down the road.

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Topics: Financial Reporting, business plan, Growth Coach, Financial Forecasting