Nonprofit Blog

Like any industry, nonprofit organizations must stay ahead of the curve when it comes to differentiating their organization from their competitors. As technology continues to evolve, there are many best practices nonprofits can use to maintain love with their current donors while increasing their donor base. Since 2017 is already in full force, here are a few marketing tips that can help all nonprofits!

In a perfect world, companies earn revenue and generate profit consistently throughout the year. But some borrowers, such as landscapers, hotels and toy manufacturers, experience significant seasonal fluctuations in their financial performance, with most sales occurring in one quarter. Seasonal businesses still need working capital to operate throughout the year, for such items as inventory, rent and salaries — and they often need to turn to banks to fund the shortfall during the off season. Bankers can use these three approaches to assess and manage the credit risk associated with lending to seasonal businesses.   

Businesses may reissue their financial statements for several reasons. Management might have misinterpreted the accounting standards, requiring the company’s external accountant to adjust the numbers. Or they simply may have made mistakes and need to correct them. But a financial restatement also can be a sign of incompetence — or even fraud. Bankers should examine financial restatements closely to accurately evaluate their borrowers’ situations.

Gauging liquidity — how quickly assets can be converted into cash — helps bankers anticipate whether a borrower will be able to make timely loan payments. To measure liquidity, bankers traditionally look to the balance sheet and compute the current or quick ratio. But there’s also another, lesser-known metric called the cash conversion cycle (CCC).

A prospective borrower might seem solid until you perform an analysis of its strengths, weaknesses, opportunities and threats (SWOT). Suppose the SWOT assessment reveals that the company is vulnerable to competitors or potential threats, such as cyberattacks or financial fraud. Is it worth continuing to work with the borrower to fix these problems? Here’s some guidance to help you decide.

An accounting internship is one of the most important steps to begin your career in accounting. Fulfilling an internship is important because it provides you with a real world experience which is one of the most valuable tools to have when interviewing for a full time position (regardless of the company or firm). While interning, you form relationships with accounting professionals who can help you achieve your goals while understanding what work ethic is required to be successful in this industry. Learning how to communicate with these professionals is also important. An Internship gives you exposure to either the audit, advisory or tax practices, which will assist in identifying what area best fits you.  Some may view the internship experience as a long “interview” by the firm, but you should think of an internship as a two-way interview – you are also interviewing the firm to ensure the firm culture is right for you. 

Smith & Howard’s 12^th Annual Leadership Institute for Accounting Students will take place July 13-14, 2017 at our office in Midtown Atlanta (Atlantic Station).  Lodging and meals are provided.  This is an exciting opportunity for attendees to network with our firm and gain invaluable knowledge that will help them succeed in the future.

We all know the old adage: The only constant in life is change. As daily responsibilities for CPAs evolve and grow, so must the way we test and train the individuals aspiring to be in these roles. Recognizing this fact, the AICPA has updated the Uniform CPA Exam so that more emphasis is placed on higher-order thinking and professional skepticism. Want to learn more? Click here to watch out this brief video that gives an overview of the exam changes.

[[{"type":"media","view_mode":"media_large","fid":"2501","attributes":{"alt":"","class":"media-image","height":"167","style":"float: right; margin: 5px;","typeof":"foaf:Image","width":"250"}}]]Are you trying to decide whether to pursue a career in Tax or Audit, but neither one seems to be quite right for you? I was in the same position when I heard about a third option – Accounting and Advisory Services! What is it? Great question – keep reading to find out…

For the first time in eight years, the Republican Party holds both houses of Congress and the Presidency.