Sageworks Blog

Apr25

Where to find your next new client Mary Ellen Biery [email] Research Specialist

Apr 25, 2013 13:13

Successful CPA firms know that while business may be great today, there’s no guarantee for tomorrow. Sageworks recently used its database to determine the fastest-growing industries among U.S. businesses with revenues of $10 million or less. They might be good targets for prospecting, since they may be growing quickly and may need extra help managing their books and evaluating their financials. [More]

Apr24

Pitfalls of traditional methods for predicting default Billy Burnet [email]

Apr 24, 2013 10:43

Exposure to credit risk continues to be a focus of regulators and financial institutions years after the financial crisis, but traditional methods of predicting default may have drawbacks. Institutions that use "homegrown" scoring methods or proprietary scoring models should be cognizant of problems related to the reliability and consistency of data that is used to create the model and perform the analysis on a specific borrower. This post examines some of the pitfalls of the traditional methods and identifies how Sageworks’ probability of default model helps address those challenges. [More]

Apr 23, 2013 12:39

For financial institutions that are just beginning to stress test the portfolio or those re-evaluating current processes, a good place to start measuring effectiveness is the usefulness of the stress testing results or reports. The primary benefit of stress testing reports shouldn’t be to “check a box” but instead to identify potential weaknesses in the portfolio and allow management to plan accordingly. There are a few recommendations to keep in mind when finalizing reports. [More]

Apr22

5 Keys to uncovering mid-year client opportunities Jessica Ballard [email] Director of Marketing

Apr 22, 2013 13:00

Spring is a time of optimism, so it’s a great time for accounting firms to look for fresh opportunities to grow the business. In this post, Lauren Prosser, director of ProfitCents Professional Services, offers five ways accounting firms can “fertilize” existing efforts in order to jump-start business and grow deeper, stronger roots with clients. [More]

Apr21

Business owner? Get more from your bookkeeping software, QuickBooks® Libby Bierman [email] Analyst

Apr 21, 2013 11:23

Given all the other demands on business owners’ time, financial analysis or a thorough review of the company’s financial situation is usually under-prioritized. Businesses that use QuickBooks® or other common bookkeeping systems* can leverage the centralized and up-to-date data they have in the system to get more immediate and in-depth insights into their company. [More]

Apr20

Calculating living expenses in a global cash flow analysis Billy Burnet [email]

Apr 20, 2013 08:53

Sageworks recently hosted a webinar, Global Cash Flow Analysis: What, When, Why, and How, which featured David Matricciano, owner of DM Analytics LLC, and Chuck Nwokocha, director of advisory services at Sageworks. During the presentation, several questions were asked by attendees. In this post, Nwokocha answers questions about calculating living expenses in a global cash flow analysis. [More]

Apr19

Should you offer business advisory services? Jessica Ballard [email] Director of Marketing

Apr 19, 2013 17:30

Offering business advisory services to your clients will not only add value to the success of their business, it will also drive revenue to your firm and prevent you from competing on price. AICPA recently posted an infographic that shows 87 percent of business decision makers respect CPAs as valuable assets to their organizations and 52 percent rank their CPAs as their most trusted advisor. [More]

Apr19

Sageworks hosts Private Company Outlook event in NYC Jackie Peluso [email] VP of Media Relations

Apr 19, 2013 12:25

Due to the limited data available about their performance, private companies are rarely the focus of national news. But private companies will be highlighted at an upcoming, New York City event.
On April 30th, members of the media, business executives and other financial professionals will gather for the Private Company Outlook event to hear the latest information on the current health of U.S. privately held companies. Private companies, which create over 65% of new jobs and more than 50% of GDP, are the driving force of the U.S. economy. [More]

Apr18

Resource for bankers: Net present value calculator for future cash flows Libby Bierman [email] Analyst

Apr 18, 2013 13:05

For bankers tasked with the allowance for loan and lease losses, calculating the net present value of future cash flows with FAS 114 impairment analyses can be a cumbersome process and difficult to document. To help streamline the process, Sageworks has released a net present value of future cash flows calculator, a downloadable spreadsheet application that financial institutions can use to for the impairment of a single loan. [More]

Apr17

What are financial institutions saying about FASB’s CECL model? Mary Ellen Biery [email] Research Specialist

Apr 17, 2013 12:23

FASB recently extended to May 31 the comment period on its proposed new model (commonly known as the CECL model) for accounting for credit losses, but some financial industry players are seeking an even longer extension. FASB’s website shows the board has received 29 comment letters so far, and those not asking for a deadline extension are generally opposed to the new model. [More]