Financial Oversight – DougFreemanCPA.com

In financial planning, forecasts and projections aren’t the same

Financial Oversight, Financial Planning, Financial Projections, Financial Statements, Small Business, Small Business Owners / Douglas Freeman

Businesses are rightly encouraged to regularly generate professionally prepared financial statements. Doing so is important for both understanding your own financial position and providing accurate, comprehensive information to stakeholders such as investors, lenders and advisors. However, keep in mind that financial statements are historical records. They depict the state of the company at a given […]

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How businesses can use stress testing to improve risk management

Financial Institutions, Financial Oversight, Risk Management, Small Business / Douglas Freeman

If you’ve been following the news lately, you’ve surely heard or read about the sudden rise in concern about the banking industry. Although the story is still unfolding, an important lesson for business owners is already clear: You’ve got to be constantly on guard against the many risks to your company’s financial solvency. One way

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Remind your sales team about the power of storytelling

Financial Oversight, Sales, Tax Planning / Douglas Freeman

Everyone loves a story. It’s why movies are still big business and many of us spend hours on the couch binge-watching our favorite television shows. What’s important to keep in mind — and to remind your sales team — is that effective storytelling can also drive sales. This doesn’t mean devising fanciful, fictional tales to

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Prepare for the worst with a business turnaround strategy

Business Turnaround Strategy, Financial Oversight, Management / Douglas Freeman

Many businesses have a life cycle that, as life cycles tend to do, concludes with a period of decline and failure. Often, the demise of a company is driven by internal factors — such as weak financial oversight, lack of management consensus or one-person rule. External factors typically contribute, as well. These may include disruptive

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