As we welcome in a new year here at Lucrum (and maybe a new decade depending on how you count them), it’s …
Frequently Asked Questions – December
In our second installment of frequently asked questions, we bring to light some answers that will likely be helpful for any business …
Frequently Asked Questions – October
In the decades we have spent with our clients, we often see the same questions come up. We thought it would be …
Cost allocation theory and practice PART 2
In our last month’s article, we went through the basics of job costing, how it can give management a better perspective into …
Cost allocation theory and practice
Accounting for project-based businesses can be particularly challenging for inexperienced financial managers since there are far more considerations than just capturing revenue …
Buying a Car or Truck for the Business?
When purchasing a new vehicle, the driver gets the fun of riding around in a new car with the new car smell! …
Accounting Related Policies
Setting customer expectations in business is essential to gain the trust of customers, avoid conflicts, and maintain a high degree of customer …
5 Ways To Speed Up Cash Flow
One of the biggest challenges for small businesses is managing cash flow. If it seems like there is never enough cash to …
CFO Does Not Equal No! A Strategic Approach to Transformative Financial Leadership
Perhaps the most important and dynamic relationship within a business is between the Owner/CEO and the CFO. The Chief Financial Officer is …
Recruiting Incentives – When Should You Consider Hiring Bonuses
Remaining competitive as a business requires more than just careful budgeting and a keen eye for marketing and industry trends. Leaders also …
A Report Card for Your Business Financials
We all remember the days when we got a report card from school? Now that we have a business, it has a …
Cash Flow for Small Business: The First Step to Financial Clarity
For a small business to succeed in today’s marketplace, it’s imperative that the owner or management team know its numbers. Creating a …
Business Planning Made Easy for 2019
2019 is here, which makes today the perfect time to think about business goals and where the company should be one year …
Showing Gratitude in the Office & Why It’s Important
It’s the time of year where a lot of people think about what’s important to them and how thankful they are for …
How to Effectively Communicate with Clients
In business, maintaining strong client relationships is vital. On any given day, it’s not uncommon for all levels of employees to regularly …
Should You Have a Financial Dashboard?
A quick glance is all that is needed to check a vehicle’s fuel gauge, engine temperature or RPM when driving down a …
When Should You Outsource?
Outsourcing has become a popular business practice. That’s because today’s marketplace is teaming with contractors who offer a variety of specialty services, …
How to Survive a Worker’s Comp Audit
Small businesses with employees have the distinct honor once per year of being part of a worker’s compensation audit. Worker’s compensation is …
How to Plan for Large Purchases
Small business owners often struggle with knowing when it’s the right time to make that next big purchase for their company. Sometimes, …
How to Cut Costs with Fixed Assets Management
Fixed assets include land, buildings, equipment, furniture and vehicles the company owns. While expenses are frequently evaluated to cut costs, fixed asset …
Five Ways to Make A Business More Efficient
A great entrepreneur will always be on the lookout for ways to improve their business. Efficiency is a goal everyone wants to …