management Archives - Wiss & Company, LLP

Part 5: Invest in Change Management

Written on December 22, 2022. Posted in Technology.

By Luis Vargas Once you lay out the specific aspects of the investment—which initiative to prioritize, how to measure success, who will lead the project and how much customization is needed—you can shift focus to your employees and your strategy for guiding them through the future change. Managing change throughout the lifecycle of your initiative will be critical to creating a culture of innovation and securing ROI. There are five phases of change management—as you strategize how...

Contractor Billings: Management, Strategy, & Effects on the Financial Statements

Written on May 14, 2019. Posted in Construction.

Updated 7/30/2019. In the construction world, management is key. It takes a tenured project manager to have a successful and profitable job, so when it comes to the billing department, take a strategic approach. Contractor billing breakdown Now some may be asking, “Why does billing matter? Don’t contractors earn revenue regardless of how much they bill?” And that is true – Generally Accepted Accounting Principles (GAAP) state that to be accurate, the best way for a contractor...

Inventory Management Systems

Written on February 19, 2019. Posted in Advisory Services.

By David Singletary Are you still using Excel spreadsheets to keep track of your company’s inventory? You’ll know it’s time to upgrade when your business grows to the point where you or your people are spending way too much time inputting static data. A good inventory management system should do the heavy lifting. Here are a few features and capabilities a good solution should offer. Multiple costing method options — You shouldn’t be limited to just one method of calculating...

Business Process Reviews-the First Step to Positioning Your MSO or DSO for Rapid Expansion

Written on July 26, 2018. Posted in Advisory Services.

By Carolyn Hall, CPA, MBA Business owners with an entrepreneurial spirit welcome growth without necessarily focusing on the bottom line. MSO and DSO professionals who own and operate medical and dental service organizations that are experiencing patient gains and revenue growth can often lose sight of the details that go into back-end processes. Your accounting system can be your first and most visible sign of trouble. When billing is slow or error-filled, processes are broken, locations...

Proper Management Gets Ambitious Projects Over the Finish Line

Written on July 17, 2018. Posted in Advisory Services.

What could be more intimidating to a business than the prospect of launching a new ecommerce website? Or merging with a competitor? Or implementing a new business process management software solution that will touch virtually every department in the company? Lots of thoughts go through your head as you consider taking on a project that might take months or years, and will impact your company and your people for a long time to come. Just think of the prospects of establishing goals,...

When and Why Your Business Needs a Business Process Review

Written on June 5, 2018. Posted in Advisory Services.

By David Singletary Have you ever really noticed a process at your business that’s been in place seemingly forever? As you take a closer look it doesn’t appear to be the best way of doing things, so you ask the logical question: “Why?” In response, your team collectively shrugs and says, “Well…that’s how we’ve always done it.” It’s time for a business process optimization review. Third-Party Overview Business process reviews are important because they’re conducted by a professionally...

Business Leaders: Give Yourself an 85 Percent Chance of Success

Written on August 1, 2017. Posted in General Business.

Dr. Nick Molinaro, Ed.D., P.C. CEOs and other top business executives have it tough. We read about their challenges all the time. Sometimes they are called heroes and sometimes goats for taking actions in the face of a possible downside – or for refusing to do so. Ah, the magic of 20-20 hindsight. An accountant’s main job consists of narrowly focusing on the specific task in front of them. CEOs, on the other hand, must have the ability to shift awareness to different items perhaps...

Top Business Leaders Learn to Shift Awareness to Maximize Performance

Written on June 27, 2017. Posted in General Business.

Dr. Nick Molinaro, Ed.D., P.C. As I have explained in this previous post regarding my work as a licensed psychologist with high-level athletes, awareness and focus are critical. Those same mental skills serve the leadership skills of the exceptionally performing business leaders I work with as well. Let’s drill a little deeper into how the performance abilities of both groups align. From a psychological viewpoint, there are two types of sports – closed and open – and many top athletes...

Enhancing Business Leadership and Performance Through Awareness Training

Written on May 2, 2017. Posted in General Business.

By Dr. Nick Molinaro, Ed.D., P.C. Successful business leaders have a skill set that includes curiosity, wisdom, courage, creativity, tenacity and the ability to lead, motivate and energize others. But one key trait—and the one that serves as the foundation of all others—is awareness. Internal and external awareness makes business leaders more sensitive to their environment and the conditions in front of them, and to how they’re perceived by employees, partners, vendors, customers...

Safeguarding Accounting Ethics

Written on March 28, 2017. Posted in General Business.

By Brian Harden Across industries, the most effective managers understand that leading by example is the best way to influence corporate culture. In the realm of accounting ethics, this concept is known as Tone at the Top. The premise is simple: Employees look to management for leadership, and odds are high that their behavior will mirror the conduct of their bosses. If managers act with honesty and integrity, employees will generally follow suit. By the same token, if workers see...

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Tag: management