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The start of the new year always sparks inspiration and goal-setting for Q1 or the year. Sometimes goals fall incomplete or aren't sought out properly. A disappointing quarter can make it hard to get back on track, however, it is important to reflect on what worked and what...
Does your business have multiple revenue and cost streams? Be sure your accounting set up is providing the insight you need to determine profitability of each business unit. The simplest way to ensure that you have the information you need is to utilize a Class system within...
As a provider of part-time CFO and Controller services, the above question is usually the first question asked by potential clients. Titles such as Bookkeeper, Controller and Chief Financial Officer(CFO) can get tossed around rather loosely in the small and medium size business...
Financial reporting for inventory might seem like a straightforward matter – just add up all the costs to produce the inventory, right? Not quite – there’s more to it than meets the eye. Method The method of inventory costing chosen and the assumptions employed to allocate...
In a previous blog post we discussed the benefits that industry clustering has brought to the Maine craft brewing landscape. From knowledge spillover to increased access to suppliers, all signs point to industry clustering being a resounding benefit for an industry that’s been...
The restaurant industry is booming in Maine. Sadly, for one reason or another, not all make it. In recent news, many restaurant owners have failed to properly manage finances resulting in closing of restaurants, criminal charges, and in some cases...
There’s no doubt that national growth in craft brewing has been strong. In 1990 there were 200 craft breweries in the United States, by 2011 there were more than 2,000, and by early 2017 there were over 7,000. While national growth has been impressive, industry clusters in...
Around the world, Maine has always been well known for being a premier summer vacation spot. The tourism industry brings in hundreds of millions each year. One vital portion of this industry is Maine’s exclusive summer camps for kids. Each year thousands of kids are dropped off...
Having a great business plan and running that business are two very different things. One important point that we like to highlight is the difference between a Bookkeeper, Controller, and Chief Financial Officer. For small and medium sized businesses, these terms can get tossed...
Many restaurant owners are very passionate about their restaurant and the food they serve, but have little business experience and financial knowledge. Running a restaurant can be very complicated and takes thorough research and analysis. It is very common for restaurant owners...
We thrive in ambiguous and uncertain environments.