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Sageworks Blog


Top recent Twitter posts for accountants

Twitter is a great way to keep up with news and with corporate announcements, but many accountants don’t have time to scroll through feeds and figure out who’s worth following. Here are five recent Tweets that contained useful information for accountants.



Are you focusing more on risk management than your actual job function?

According to the ABA Banking Journal, risk assessment is a trending topic and could grow out of hand if it detracts from other bank priorities. Risk assessments can be a lengthy, complex and ongoing process, which makes it difficult to discern when you should focus on managing risk and when you should focus on other responsibilities like building business or spreading loans. [More]


How accountants can cross-sell their services to existing clients

Successful accountants can generate more revenue while keeping costs down by creating new business from their existing clients. The AICPA estimates that it costs 11 times more to acquire a new customer than to keep an existing one. This infographic will give you key steps to keep clients coming back for additional services. [More]


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]


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]


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.



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]


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]


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]


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.