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Sageworks Blog


CECL to be released first half of 2015

Final guidance on the Current Expected Credit Loss (CECL) model has been an anticipated event in the eyes of bankers and other financial professionals. Its release marks the end of the incurred loss model in accounting for expected losses and brings with it a slew of process changes in the way financial institutions collect data and perform their ALLL calculations. Several statements, including statements from the chairman of the FASB, alluded to a release date of Q3 or Q4 in 2014; however, in a September Board Meeting, the FASB decided to defer release of the new guidance to the first half of 2015. [More]


Spotlight on lending: Commercial loan growth geographically

Now that banks have filed their third quarter financial reports, what did the lending picture look like last quarter? Specifically for businesses, are commercial loans on the rise? [More]


You aren't prepared for 2015 if your ALLL lacks these traits

In preparing for the allowance for loan and lease losses (ALLL) calculation in 2015, bankers have a lot on their plates. The ALLL has received significantly more attention in the past few years, and the trend of examiner scrutiny does not appear to be letting up. If anything, regulatory bodies will be focusing even more on the allowance calculation in 2015 as institutions switch from an incurred loss model to an expected loss model. That said, if institutions are heedful of certain process improvements and incorporate them into their methodologies, they will be in a more defensible position when the examiners come knocking. In particular, institutions should focus on a few overarching princ... [More]


4 Reasons to leverage technology in your accounting firm

3 out of 4 clients of financial services think their CPA is behind or just keeping up with technology. Learn how being an early adopter of technology can help your firm win more clients and add value by cross-selling additional services. [More]


Branding your accounting firm online

Your accounting firm is perhaps not likely to have a celebrity endorsement nor an unrequited love’s name, but branding is equally important to you as it is to Maxwell House or Dr. Pepper. Creating a positive brand experience for an accounting firm is, more often than not, about reputation. A local wedding photographer looking for a new accountant will probably look for recommendations from colleagues and acquaintances before choosing their new provider. So a firm of five is just as likely to have a solid reputation for quality as a firm of 50. [More]


Why bankers should become trusted advisors to small business customers

In the 2014 J.D. Power Small Business Banking Satisfaction Study, small business owners indicated that a key component of a positive banking experience is the relationship they have with their account manager. The survey was released on October 28, 2014, and polled business owners from across the country. [More]


How important is a social media community in banking?

Online platforms like Facebook and Twitter allow people to connect with one another as well as with brands. As a bank or credit union – and a unique brand reaching customers every day – is your institution active on social media? Should connecting with your borrowers and clients be limited just to checking a branch’s hours or an available balance? Customer service in banking is increasingly determined by a digital presence. [More]


Best banks to work for in the U.S.

Do you work at one of the best banks in the country? American Banker just released its second annual ranking of the best banks to work for in the U.S. The rankings are based on employee opinions of the work environment, benefits, career-advancement opportunities and perks such as subsidized gym memberships.
Best Banks to Work For [More]


Use technology to retain accounting clients

Business owners need accountants for more than taxes alone. But the reality is that many accountants’ compliance-related workloads keep them busy enough (or too busy) that they don’t make time to focus on higher-value-added advisory services. How do you get around this chicken-and-egg problem? An efficient way to transition to more value-added services is to utilize technology that automates much of the process.



3 Global cash flow analysis tips

With an improving economic environment, many banks are seeing strong loan growth. However, it is important for institutions to remain disciplined during this growth, all the way down to the global cash flow analysis of a loan. Credit analysis is more challenging with complex borrowers – those with multiple people, businesses, real estate properties, etc. – and a global cash flow analysis is required to properly assess the creditworthiness of the whole entity. To help avoid mistakes and streamline the global cash flow process, bankers can apply three key suggestions. [More]