The Best Time to Make a Profit is ALWAYS

It should be a fairly straight-forward answer, right? But if you’re Uber, the answer is seemingly “someday… hopefully”. Uber lost $2.8 Billion in 2016. $2.8 BILLION. And in Q1 of 2017, investors were pleased the company reduced its quarterly loss to $708M from the Q4 2016 loss of $991M.

Predicting Net Income with Confidence

For the most part no one likes surprises; unless it’s your birthday! Same goes for a business owner who thought they had a good month, then see the profit & loss statement, and “surprise,” you’re in the red! OUCH! You can minimize surprises and predict, with a level of confidence, your bottom line if you take the time to analyze and understand two important predictors in your business.

What are you BUSY with?

Here at Michigan CFO Associates, we are in the midst of the “busy season”; the period from mid-January through April. Not because we prepare tax returns (because we don’t do taxes – and I feel compelled to repeat that as part of my “mantra”). Rather, we’re busy assisting with year-end work needed for CPAs to do tax returns.

Michigan CFO Helps Engineering Services Firm Get Back on Track

In the Fall of 2016, Michigan CFO was engaged to work with an Engineering Company that had drawn significant concern from its bank. We were referred to the owners by the company’s strategy consultant who we’ve known for many years.

In 2014, the company started using the Percentage-of-Completion accounting method to determine how much revenue to recognize on projects underway, but not yet complete.

The Marketing Plan: A Small-Business Essential

Guest blog by Alisha Lucido, Marketing Coordinator

In small businesses, marketing often gets placed on the backburner, yet many times the primary focus is on getting new leads. But how do you get new leads? By marketing! Small-business marketing guru Dan Kennedy says it best, “If you’re looking for the answer that turns your time into the most money, then turn your attention to marketing.

Now That It’s Working, Let’s Stop Doing It

Most of the time when we start a new engagement with a client the first phase involves some level of clean up or prep work. Some require more, some less, but almost all require some. Cleanup can be any number of things: in extreme cases, bank accounts haven’t been reconciled in years or the company is still using a paper ledger system.