Monthly Archives: February 2011

Preventing Small Business Fraud

Business fraud is defined as the use of one’s occupation for personal enrichment through the deliberate misuse or misapplication of the employing organizations resources or assets.

The Association of Certified Fraud Examiners estimates that a typical business will lose an average of 5% of revenues from employee theft.

A U.S. Chamber of Commerce survey reported that 1/3 of business bankruptcies are due to employee theft.…

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How to Manage a Rapidly Growing Business

While some new business owners face the issue of not enough customers, others face the issue of too many customers/clients.  I am sure some of you are saying that is a problem you wish you had but both are serious issues and must be dealt with carefully.  There are many lists on how to find new customers. …

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Dispelling Financial Statement Myths

For successful companies, timely and accurate financial statements are the cornerstone of sound financial management.  While the information is historical it provides information critical to the management of any business.  The meaning of the numbers comes alive through meaningful comparisons and analysis.  Yet there are many business owners that miss the opportunity to manage their business because of their belief in certain myths. …

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Working Capital Problems?

Here Are 8 Signs That You Need To Watch

Does your business have working capital problems? Let’s take a look at what working capital involves. Basically working capital falls into four main areas. These are: 

  1. Cash
  2. Accounts Receivable
  3. Inventories
  4. Accounts Payable

Most companies would say “yes, they have a problem in one of these areas.” Why?…

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Are Michigan Companies Hiring?

Everyone knows that Michigan was hit particularly hard in this recession.  Unemployment rose quickly and is slow to come back down.  Are companies ready to start hiring again?

I am the part time CFO for many small to mid-sized companies in Michigan and every one of them is being very cautious when it comes to hiring new employees. …

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