From youth and community organizations to outreach programs and churches, non-profits help make our neighborhoods and communities enjoyable and livable spaces. Unlike a for profit enterprise, a nonprofit exists to pursue missions that address the needs of society, without worrying about generating profits for shareholders and owners. This vital role is an often-overlooked element in professional services, like accounting, but nonprofits can benefit tremendously from professional partnerships. Accounting for businesses and nonprofits differs in a few important ways.  One difference is in r ..read more

Antonio García Martínez’s pointed memoir, Chaos Monkeys: Obscene Fortune and Random Failure in Silicon Valley, highlights the authors journey from east coast to west, starting in Goldman Sachs, moving through 2 ad start-ups (the second one sold to Twitter) and then working at Facebook, before the initial public offering.   There are many memoirs and stories coming from the tech companies in Silicon Valley. Chaos Monkeys differs in tone. From panicked pivots to naked butt-kissing, the day-to-day realities of working within a cult of personality are extreme. But the monkeys in the title are ..read more

At FNG, LLC, we’re about partnering with our clients to ensure they are fully informed about their finances and our accounting strategies. This involves a fair amount of education, as accounting, like other professional services, is full of abbreviations. And sometimes, we forget that not everyone knows these common accounting acronyms and abbreviations.   AR (Accounts Receivable) This is money people owe you, plain and simple.   ACCG (Accounting) Accounting is just such a long word, it needed its own acronym. Because ACCT is something else   ACCT (Account) Account typically ref ..read more

Traction: Getting a Grip on Your Business by Gino Wickman is not new. But it is hugely popular in business circles, especially in rapidly growing industries and companies.  And for good reason. The Entrepreneurial Operating System (EOS) is a comprehensive approach to resolving common problems growing businesses face in scaling to the next level in their industries.   Wickman’s book lays out simple, powerful methods to run your company with more focus to gain more traction.  Starting with developing a concise value statement, moving into goal-setting and leadership team accountab ..read more

Valuing a company is tricky business.  For small companies looking to get an appraisal before sale, this is a black and white view of the years of stress, struggle, and effort they have put into growing a business.  It can be an emotional process for owners and their families.  The best way to start is to talk to an accountant.   Now, a Business Broker or Certified Business Appraiser may have a different opinion.  But they are going to provide different information than an accountant.  An accounting partner will verify the income of your business and evaluate your ..read more

In To Sell is Human: The Surprising Truth About Moving Others, Daniel Pink presents a convincing argument for his thesis. Selling isn’t an isolated activity undertaken by business development departments, but an essential skill to help all of us move others in our professional and daily lives.   Pink’s book lays out a clear understanding of modern business practices, introducing individuals from all professional walks of life and demonstrating how their daily lives incorporate selling. The US Census Bureau estimates that the American economy has more than twenty-one million “non-employer ..read more

April 18th is fast approaching. And even with the extra few days that the weekend and holiday get us, some people will inevitably miss the deadline. If you aren’t going to make it, there are some steps you can   File an Extension. This is by far the easiest way to get a little more time. In fact, if you file an extension, you have until October 16, 2017 to finish and file. Not too shabby.   Stop the Interest and Penalty Pile-Up. You can mitigate the damage by filing (and paying!) as soon as possible after the deadline passes. And, of course, some lucky people receive no penalties ..read more

In Grit: The Power of Passion and Perseverance, Angela Duckworth lays out a compelling argument for changing the way we predict success, both for ourselves and for our businesses. Duckworth defines grit as a combination of drive and loyalty and highlights many professional examples of professional success won through determination and hard work rather than natural talent.   At first glance, it seems pretty self-explanatory.  After all, isn’t hard work and dedication the core value of entrepreneurship? The very qualities we celebrate as small business owners? And yet, as Duckworth sho ..read more

Old habits die hard.  And we understand the costs involved in updating an internal system.  As fellow business owners, it can be difficult to justify business costs that don’t seem to have an immediate return to our bottom line. But updating your financial records system will bring a new level of organization and efficiencies that will help you focus on your core business and your clients. Some of the benefits include:   Streamlined Systems When your accounting is only on paper, reports and crucial information can take forever to retrieve. Maintaining digital records within a st ..read more

Taxes can be overwhelming.  At FNG, LLC, we love tax season.  Tax preparation is like the accounting Olympics, and we’re champs. And one of the ways we help our clients save time and money on their taxes is to help them pull everything together. From information to documents, the following checklist will help you get your stuff together for your accountant. When our clients are organized, they save money on their tax preparation. And everyone likes to save money.   Information to Share When you have an ongoing financial partner like FNG, LLC, this is a short list.  In fact ..read more