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Nonprofit – Balance Sheet

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A nonprofit Balance Sheet technically is known as a “Statement of Financial Position”.  It includes assets, liabilities, and net assets (instead of retained earnings or owners’ equity) as in a for-profit company.

Assets include such things as cash, investments, equipment and pledges receivable.  Pledges represent donor …

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11 Ways a Business Can Cut Spending

Many business owners have difficulty identifying and reducing wasteful spending. It is often difficult to distinguish between useful and wasteful costs or expenses, and can be even more difficult to reduce or eliminate the behaviors that lead to wasteful spending. With a few internal controls and the discipline to measure and manage financial …

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Budgeting for Nonprofits

A key component of financial sustainability is the commitment of the organization to financial management.  Board and staff should review financial reports timely and focus on advance planning. One way that board and staff plan for income and expenses in the future is by creating a budget. Approval of the annual budget is …

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Why a Strategic Plan is Critical for Nonprofits

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Strategic plans are discussed extensively in the world of commercial business enterprises, but what about in the nonprofit world? Granted, many large and well-established nonprofit organizations have developed comprehensive strategic plans that in turn drive goals, objectives, and budgets for those organizations. Smaller nonprofits, …

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Save Time Quickbooks Memorized Transactions

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If you have many routine transactions that you perform on a monthly or even a weekly basis, it can get to the point where it seems tedious and like a waste of time. But if you use QuickBooks software for your accounting work, there are …

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It’s Monday And I’m Stressed!

I like to write all my blog posts at once. That way, I can read anything and everything that involves business strategy, then determine what issues or people will be pertinent to you, our audience. I usually do all the creative writing and analysis on Fridays but alas, more pressing matters occupied my …

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Using A Business Plan to Validate Your Business

A business plan creates the basis for how you are judged by outside sources, as well as for how you judge yourself. This plan is used as a marketing and sales tool throughout the life cycle of a business. From generating start-up capital to selling the company, a business plan is used to …

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mAccounting – Our Values

Every organization has values, whether stated explicitly or not. But after working for or with an organization or person for a short period of time, you start to understand their values. At mAccounting we had general themes around our values, but we decided to commit these themes into words.

We first started with our …

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Should I Hire a Part-time Controller?

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mACCOUNTING’s clients frequently ask me if a part-time CFO or part-time controller makes sense for their entrepreneurial company.

My response is simple: YES.

Businesses gain the expertise they need at a fraction of the cost. Most small businesses have many of the same needs as a …

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