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The Difference Between Accounting and Finance and Why It Matters
You may hear the words “Accounting” and “Finance” and think they mean the same thing. However, there is a distinction between the two and understanding the difference will help your company to grow and ensure that it has the resources in place to handle this growth.
What is the difference between “Accounting” and “Finance?”
The actions of both the Finance…Read More -
Sell My Company, Keep My Job…Sounds Like a Great Idea!
Over the past few years I have been involved in, or at least aware of, several cases where owners of privately held businesses sold their company and agreed to stay on working for the new owner in one capacity or another. Recently it occurred to me that this kind of arrangement seldom works for very long.
I thought that…Read More -
A Company Full of Unethical Employees: The High Risk of Small Business Fraud
By Russ Gambrel, Senior Consultant, Finance & Advisors Practice at The Fahrenheit Group
I’ve spent a good chunk of the past two decades designing and assessing control systems for organizations of all shapes and sizes. I was working in Silicon Valley at the dawn of Sarbanes-Oxley and it was my experience that the vast majority of companies were finally giving…Read More -
The Right Tax Provider is More Than Filling Out The Right Forms
I recently came across this (older) article in Entrepreneur written by Jane Porter. The content is on point whether you still need to select a tax preparer for this year or you need to reassess your current provider.
At this point, if you still need to select a provider to prepare your 2016 taxes, you are a little late in…Read More -
Quickbooks Connect 2016 — Online is the Future
Doug Jones, a Managing Director at Fahrenheit and QuickBooks Pro Advisor, recently attended the 3rd annual QuickBooks Connect convention in San Jose, California. The following is a synopsis of Doug’s experience at the convention that may be of interest to users of QuickBooks.
QuickBooks Connect is an event sponsored by Intuit, the developer of QuickBooks. It is a combination of…Read More -
Sign Up Now for the R&D Tax Credit Webinar on Nov 15th
The federal and Virginia R&D tax credits are often overlooked or underutilized by eligible companies. Your company should make sure it is gaining full benefit of these tax laws to help fund your operations and improve your bottom line. The federal credit has been made permanent, eliminating a maddening uncertainty that kept many companies from bothering with it. Plus,…Read More -
Scratching Up Seed Money
Finding just the right financing to start or expand your company is a complex process that involves uncovering sources of money, using the proper means and evaluating whether the timing is good. If the economy is slow, it's more difficult to raise cash -- no matter how clever a business plan you have.
There are several ways to initially fill…Read More -
M&A 101: Where to Start
If your company has decided the best way to grow is to expand your ownership boundaries, you are probably considering either a merger or an acquisition.
Both are convenient, quick ways to grow, and they both have advantages and disadvantages. But the legalities and tax outcomes of these two transactions are very different.
First, here are the basic differences between…Read More -
Evolving Challenges with State Tax Apportionment
Recent changes adopted by many states regarding taxable income apportionment require attention from business taxpayers filing returns in multiple jurisdictions. Some taxpayers may realize at least a temporary windfall when they implement these changes, while others may see their tax bills rise significantly. How these new rules will ultimately be interpreted in each state, and the mix of states in…Read More -
Learn What CAC Payback Can Tell You About Your Business
The SaaS Business Metrics Series, Part 2: CAC Payback
This article continues Fahrenheit's series exploring business metrics relevant to the Software as a Service (SaaS) industry. Each article briefly explores a relevant SaaS key metric, including the definition, the applicable business contexts, and its use. The focus for this article is CAC Payback.
Definition: CAC Payback refers to the Customer…Read More -
Wire Fraud–Don’t Be “Whaled”!
Recently, multiple clients were targeted by fraud rings attempting (and nearly succeeding) to have money fradulently wire transferred. Unfortunately, the use of tools like LinkedIn and public company websites has made it easy for thieves to identify the principals and financial leaders of almost any company and set up this simple email scheme. No hacking is required. This type of…Read More -
Real World Users Weigh-in and Rate Accounting Software
G2 Crowd, an independent software research and rating organization, recently issued its 2016 report on commonly used accounting software. The results, which are based on input from real world users, are very interesting and should be a great resource for organizations considering new accounting systems. Here are a few impressions from the report:
While Intuit has clearly signaled that the future…Read More