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Sageworks Blog

Jul26

How community banks can build positive relationships with examiners

Stress testing builds confidence in the financial institution’s overall risk management strategy, which can alleviate some of the apprehension traditionally associated with examinations. Offering a sound roadmap and getting ahead of regulatory requirements ultimately pave the way to a successful financial checkup. [More]

Jul25

Why yesterday was huge in the financial realm: IFRS 9

Despite much deliberation and an initial desire to converge ideologies, the International Accounting Standards Board (IASB) and its American counterpart, the Financial Accounting Standards Board (FASB) were unable to draft uniform revisions to the current incurred loss model for the ALLL. Due to fundamental disagreements on how impairments should be modeled, the two bodies diverged and set out to issue their own standards relating to the calculation of the ALLL.

Yesterday, on Thursday, July 24th, the IASB took action. [More]

Jul24

How accountants can give awesome financial presentations

When accountants prepare to meet with prospects or to review a company’s financial performance with its board, remembering three things will help you develop an awesome presentation that solidifies your role as trusted advisor. Here are some tips related to these three principles, along with advice for using ProfitCents to create professional, informative presentations.

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Jul23

Sageworks to host two ALLL Executive Seminars in California

Banking executives in Los Angeles, San Francisco and surrounding areas are invited to join Sageworks this August for two ALLL Executive Seminar and Golf events. At both events, Sageworks’ risk management consultants will discuss best practices for documenting qualitative factors and other challenges in the estimation of the ALLL. [More]

Jul22

Why do banks maintain an unallocated reserve?

The unallocated reserve can play an important role in maintaining a financial institution’s overall reserve; however, it is, by nature, a rather subjective process. Unallocated reserves are the result of an adjustment to account for estimated credit losses which fall outside of the predefined qualitative factors and historic loss calculations. [More]

Jul21

Increasing interest in MBL

As credit unions continue to experience solid growth in traditional lending areas, many management teams are focusing attention on starting or expanding their member business lending program. Growing the business portfolio can provide a number of benefits for credit unions, including: [More]

Jul20

Why U.K. accountancy pros use ProfitCents

Accountancy professionals aim to have the expertise and tools to address customer needs, but this can be difficult, given the many demands on firms. That is why accountants in the U.K. who are looking to win new clients and increase engagements use ProfitCents, the leading solution for analysing small- and medium-sized enterprises.

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Jul19

How to make your employees’ salaries go further

In today’s competitive marketplace, it’s important to stand out. One of the ways that you can do that as an employer is to offer your employees an enticing wage. If you’re unable to pay as much as you would like, there are other ways to make your employees’ salaries go further.
Bailey McCann

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Jul18

Hot summer reads for accountants: Books and popular blog posts

We’ve compiled a list of our five most popular blog posts for accountants in 2014, so if you’re getting ready for some time off in the coming weeks, bookmark this page and revisit it when you’re ready to relax with a good article or book. Also below are links to five hot-off-the-presses books that can help you grow your accounting practice, manage it better or simply get a chuckle about it.

Image by Michael Coghlin via Flickr CC

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Jul16

How accountants can win new clients

Accounting firms oftentimes abandon a marketing plan for fear they don’t have the budget to successfully win new clients. This checklist will provide 9 steps to create a plan of action to win new clients at low-cost. [More]