By Casey Gillam – Sales Manager at CFO Plans Inc. Every company has a story. An idea that started in someone’s head, a vision that gained momentum, an answer to…
By Casey Gillam – Sales Manager at CFO Plans Inc. What’s more fulfilling than family, friends, and food? Not much, according to the founders of RASA Grill. Rahul Vinod and Sahil Rahman grew…
Importance of internal controls for a growing company
By Ishara Kadawathe CBA, B.Sc. - Associate Controller, CFO Plans. What is an internal control system? It is a series of actions that occur throughout an entity’s operations and…
I am excited to announce the corporate partnership of CFO Plans with Brex. All of our new and existing clients will benefit in multiple ways. CFO Plans is known for managing…
By Fizal Meera, Associate Controller – CFO Plans. (Note: This article is meant for non-accounting business professionals with minimal or no accounting knowledge) You may have heard of prepaid…
Fan of automation? Consider these before pushing the ‘go’ button
By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering Let me start by saying, I am all for automation. All entities in our portfolio are geared for…
By Casey Gillam – Sales Manager at CFO Plans Inc. Greg Baszucki, a serial tech entrepreneur, built Wheelhouse Enterprises to address several key needs in the business software industry –…
By Casey Gillam - Sales Manager at CFO Plans Inc. Adam Jackson at Braintrust discovered CFO Plans through a mutual contact. He wasn't thinking too much about his company's accounting when he started…
By Brian Flynn People should do what they’re good at. Coders should code. Hackers should hack. Ballers should ball. The thing is, launching a successful business requires doing a…
By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering The economic order quantity is the optimum quantity of an inventory item to be purchased per order in…
By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering The Treasury Department and the Internal Revenue Service today launched the Employee Retention Credit, designed to encourage businesses…
CARES ACT: Applicable Summary for SMBs and their employees
Below is a summary of the provisions in the CARES Act, as applicable for small businesses and employees. The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in…
SBA Disaster Assistance in Response to the Coronavirus
The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the…
By Ashani Wick, Certified Business Accountant, FMAAT, B.Com.(Special) Effective inventory control is all about having the right product and quantities in the right place, at the right time. Maintaining…
Accounting for Benefits (an Operational Accounting Overview)
By Lahiru Ganegoda Typical Benefits Package of a US based company includes the following; Health Insurance Dental and Vision Insurance Life and Disability Insurance 401K While some companies provide…
By Shahul Hameed Irfan ACMA, CPA, CGMA, B.Sc.(Hons) The purpose of this blog article is to provide a general idea on start-up costs/ organizational costs and how to identify,…
By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering Finding the right formula for revenue, cost of goods sales (COGS), labor costs, promotional giveaways, controllable overheads and non-controllable…
By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering Invoice factoring (AKA; invoice discounting, debtor financing, receivables factoring) is a great option for companies that need to…
By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering You are a founder of a company or a member of the founding team of employees. Company has…
By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering All businesses have goods and services vendors. IRS mandates that all service-related vendor payments be reported on a…
First off, the intention of this article is not to discuss the technical aspects of data security, but to touch on the perceptions of security, when it comes to remotely…
By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering Up until the new millennium, having your own office room or a corner office was considered a success…
Payments ‘going out’ of a business are never fun, both in terms of work involved around it and emotionally for a business owner. In an old school conventional office setting,…
If you are managing a business, cost savings are a top priority. When it comes to cost savings, labor expenses is probably at the top of the list. With ‘labor…
The 10 Most Important Lessons Learned from Selling Over 100 Companies
by Brian Flynn and Dimitri Steinberg, FounderPartners The two of us have sold over 100 businesses over the past 25+ years and we’ve learned many important lessons along the way. We’ve played…
