Posted on February 2, 2010 by Ken Homza

To Whom Are You Accountable (February 2010)

One of the trickier problems for smaller businesses is accountability of “the boss.” Whether it is a sole proprietor, family owned business, or one that is majority controlled with “silent” minority partners, accountability is often a real issue. I’ve found …

Posted on January 2, 2010 by Ken Homza

Water The Plants! (January 2010)

Believe it or not, one of the first things that I look for when I walk into an office is whether anyone waters the plants? While I care about the health and welfare of the plants, what I am really …

Posted on December 2, 2009 by Ken Homza

Strive For Perfection (December 2009)

Everyone makes mistakes. I used to work with someone who said: “Show me a man who doesn’t make mistakes and I’ll show you a man who’s not doing anything.” While, true, this is no reason not to strive for perfection. …

Posted on November 2, 2009 by Ken Homza

Only The First Two Digits Matter (November 2009)

I spend a fair amount of my time developing financial forecasts. As we approach year end, everyone is thinking about 2010. What are expected revenues? What changes will we make in our cost structure (either by necessity or choice)? What …

Posted on October 2, 2009 by Ken Homza

Too Many Lines (October 2009)

During the last couple of weeks, I’ve had the opportunity to review a few new income statements. What I saw was pretty typical . . . too many lines. Both had over 150 line items. It is clear that the …

Posted on September 2, 2009 by Ken Homza

I Love A Good Audit (September 2009)

Last month, I wrote about the many questions that are part of our business day. To some extent, an audit is all about asking and answering questions about the financials statements of a business and whether or not they accurately …

Posted on August 2, 2009 by Ken Homza

Questions (August 2009)

My work day is filled with questions. Depending upon the day, the client, and the specific role I am playing, determines whether I am the one asking the questions or answering them. But in either case, the underlying motivation is …

Posted on July 2, 2009 by Ken Homza

OK to Pay (July 2009)

The normal process of approving accounts payable is for someone who actually received the goods or services to indicate that the invoice is both correct and that the goods or services were appropriately received. Often, this is often indicated by …

Posted on June 2, 2009 by Ken Homza

Watch The Strong Links Too . . . (June 2009)

Last month, I wrote about “The Weakest Link” and referred to the old adage “a chain is only as strong as its weakest link”. I made the argument that the same holds true in any organization and that those weak …

Posted on May 2, 2009 by Ken Homza

The Weakest Link (May 2009)

Last month, I talked about the amount of risk that businesses take on through various initiatives. Today, I’d like to address a topic that people usually put into the risk category but which I think goes to the subject of …