As companies take a hard look at their expenses, one area to examine is the accounting function. Many companies benefit from outsourcing their accounting, which can be a cost-effective way to get required expertise and flexibility without hiring a full- or part-time employee.
Many people go to the doctor for a physical checkup every year or so to make sure they are in good health. If you are the owner of a small business, how do you gauge the “health” of your company?
One way is to keep an eye on several metrics that can help you monitor your company’s health in key areas. These metrics commonly take the form of financial ratios that can be compared against other businesses that are similar to yours, or against prior performance periods for your company- a process known as benchmarking.
by Dave Miniken
After four years on the board of directors, and chairing a number of committees, I was recently elected board chair of the Washington Society of CPAs (WSCPA). This is the second time in Sweeney Conrad’s 35-year history that a member of the firm has served in this role; one of our founders, Mike Sweeney, chaired the WSCPA in 1989.