Recently there has been a trend in the business world to outsource certain business functions in order to make a more efficient operation and/or save cost of operation. In years past there was little consideration given to outsourcing accounting functions because the financial numbers were so proprietary to the business and the fear of security of this information being compromised. With the advent of secure cloud computing this fear started to relax a little bit and there has been a general trend in the accounting world toward using cloud computing and storage with more confidence and security. The recent pandemic has helped reshape opinions on the ability and security of remote operations.Read the Full Blog Here
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Posted by Mike Anderson on Fri, Feb 19, 2021 @ 11:42 AM
Topics: government contracting, Business Strategy, Outsourced Accounting, Growing your Government Contracting Business, Financial Strategy for Government Contractors, outsourced accounting for government contractors
Posted by Tyler Link on Mon, Aug 10, 2020 @ 11:20 AM
In the depths of a pandemic and resulting massive economic upheaval across our country and the globe, government contractors and grantees are focused more than ever on simply staying afloat; keeping the lights on and the doors open. Similarly, the accounting departments or outside firms that they rely on are solely focused on the day-to-day bookkeeping and monthly accounting—the bare minimum required to ensure compliance.Read the Full Blog Here
The President released his FY 2015 Federal Budget proposal earlier this week. This proposed budget will get reviewed, discussed, negotiated and beaten up over the next 6 months for sure. This year might be a little different due to the Ryan-Murray budget deal. I think it is worthwhile to examine what the White House considers the highlights and also to see if there are any other major impacts to government contractors.
Posted by Mike Anderson on Fri, May 24, 2013 @ 01:08 PM
I have had several discussions recently with small businesses that are concerned with finding ways to fund their small business. Anyone that has started a business knows that certainly is one of the major concerns with starting a new business. But to someone new to this field, it can be a very frustrating exercise. Many people assume that the funding has to come from an independently wealthy founder. While this is certainly a way that some companies are founded but by no means is this the only way. This is part of what is affectionately known as one of the 4 F's for financing an early stage business (Founder, Friends, Family and Fools). Countless businesses are started with one or more of the 4 F's. Most of the time, this type of funding is only sufficient to get the firm started or only take the firm to a certain size. Relying on this type of financing will almost certainly limit the ultimate size of the organization.
With all the threat out there right now from Continuing Resolution to Sequestration to more deficit reduction pressure it is hard to find the positives some times. Certainly, there will be programs cut, there will be contracts terminated and there will be difficulty for many companies that have been doing business with the Federal Government. It is easy to get caught up in all the negativism. My mother used to tell me that need to look for the positives in each situation and only you can control your outlook. I think that is good advice for us all right now.