Financial Advisory Blog

Armanino’s Financial Advisory blog is your source for thought leadership around cloud ERP and accounting solutions and integrations. Supported by the Cloud Accounting Institute and numerous experts in cloud, finance, reporting, integration, compliance, and technology, Armanino’s Financial Advisory blog features must-read content on what’s happening in the finance industry, case studies, white papers, and much more.

Financial Advisory Blog

July 10, 2018

The Procurement Process: Is It Time to Streamline?

Procurement can be a messy business. Members of your staff want what they want, when they want it—and your procurement process is probably in their way, which can have some unintended consequences. Letting individuals manage purchases for themselves or their departments may speed up the process, but can result in over- or under-buying, untracked purchases …

July 3, 2018

How to Fire Someone the Good Way – Prevent Wrongful Termination Lawsuits

Being good at firing people is critical if you want to avoid a wrongful termination lawsuit.  It’s never a fun task, but it’s an unavoidable part of doing business.  In our opinion, there are two simple rules of thumb when you are terminating an employee: Be kind. Be professional, yes, but if you have to …

July 2, 2018

Resort Hotel Set to Halve Monthly Financial Close With BlackLine

A large resort hotel perched near the Grand Canyon had contracted Armanino to help them implement Sage Intacct ERP, with the goal of automating many of their financial processes. As we began that project, we soon realized that their monthly financial close was manual and Excel-driven, with a painful amount of inefficiency. It took 12 …

June 19, 2018

Financial Infrastructure Is Key for Cryptocurrency Company Success

As cryptocurrencies gain traction toward mainstream adoption and acceptance, companies in the cryptocurrency ecosystem must balance an influx of revenue and fast growth with the challenges of building a financial infrastructure capable of supporting their changing needs. Whether they’re a cryptocurrency exchange, a company funded through an initial coin offering (ICO), a platform or technology …

June 7, 2018

JOBS Act Deadline Looming for Many EGCs

We are reaching the 16-year mark since the Sarbanes-Oxley Act (SOX) was passed by Congress and signed into law. One criticism consistently levied against the legislation is the cost associated with complying with the various provisions. There have been a variety of measures put in place over the years to reduce the expense of SOX …

May 31, 2018

ABC Test: Freelancers Are Now an Even Bigger No-No in CA

On April 30, the CA Supreme Court issued a long-awaited ruling that makes their description of “employment” even clearer.  (See Dynamex Operations West, Inc. v. Superior Court, Cal.5th, 2018 WL 1999120).  If you thought you had the employee vs. independent contractor (freelancer) thing nailed, you might need to think again. The good news, and the …

May 21, 2018

How Blockchains Achieve Consensus: Proof of Work vs. Proof of Stake

The use cases for blockchain are now being recognized as a truly viable option for future technologies. This stems from its inherent characteristics of immutability, security, traceability, anonymity and trust. Blockchain maintains these characteristics by achieving “consensus,” meaning agreement between all users or nodes within the network. How does a blockchain achieve this critical consensus? …

May 9, 2018

How to Plan Finance Allocations: Why Less Is More

Do you really understand your profitability from the products or services you provide? There’s more to the story than total sales at the end of the year. Incurred costs to develop, test, market and manage your product or service have a huge effect on the overall profitability of your company. If you’re undercutting your competition’s …

May 1, 2018

Top 10 Best Practices for Accrual Accounting

If your income always exceeds your expenditures, using cash accounting with no accounts payable or accounts receivable works fine. But if your income isn’t always greater than your expenditures, you need better visibility into what’s happening this month, as well as what’s likely to happen next month.  For a fuller picture of your organization’s financial …

April 25, 2018

Why You Need to Consider Data Integration Solutions

How do you get actionable reporting from the reams of data generated by your business on a daily basis? Many companies still rely on Excel spreadsheets to track revenue, expenses, headcount and more. Files are spread across desktops and departments, all waiting to be transformed, summarized and integrated on a daily, weekly or monthly basis. …

 
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