Wise Accounting Practices for Profits
The Presenter Morris A. Nunes represents privately held business, non-profits and other kinds of organizations as an outside general counsel.
A holder of a degree in Finance and Accounting from the University of Pennsylvania’s Wharton School of Business, in addition to his years of practice, he is the author of six books and many articles. His books include Balance Sheet Management; The Right Price For Your Business and Designing Profits (Co-authored). He taught as an Adjunct Professor in Georgetown University’s MBA Program and in the Law Schools at Georgetown and Catholic Universities, and at the latter two, his courses included Accounting for Lawyers. Prior to practicing law, he served in Controllership roles for privately held and publicly held businesses. He also worked as a licensed securities broker and published securities analyst.
Financial Statements and accounting information are often constrained by various conventions and rules imposed by IRS, other tax authorities, the Financial Accounting Standards Board, Generally Accepted Accounting Standards, etc. Moreover, the computerization of accounting has tended to confine managers to specific formats and presentations that do not grant the flexibility for innovation in an analysis.
These constraints too often limit the utility of this information for optimal management of operations and finances. Too often, as well, they are accepted as presented without consideration for how the system and the data may be best manipulated for transparency and analysis so that opportunities will literally bubble to the surface.
This Seminar will define and demonstrate a variety of tools for breaking through those conventions and rules to recognize where opportunities lie and how those opportunities may best be capitalized upon. It will highlight an innovative way of thinking about accounting, what’s in those accounts and the opportunities hidden there.
- Consideration of the different types of accounting and how each can be best employed
- A brief review of some accounting and financial statement basics
- How to manage for better financial results through analysis and control of standard internal information and accounting
- Where to find profit opportunities in payroll incentives, overhead, and other expenses
- Where to find cash opportunities in payables, receivables and other balance sheet items
- How to accurately establish entity value
- Understanding the tax implications of accounting procedures
- How to test data for reliability
- How to format for easiest and best transparency
Course Level - Basic to Intermediate
Who Should Attend
- Business Owners
- Business Brokers
Why Should Attend
This focused and innovative Seminar provides an integrated how-to look at a collection of financial and accounting tools for use in any kind of operation or institution in which money matters, including for-profit, non-profit, governmental, religious or other.
Decisions are based on information, but the inability to obtain, discern or appreciate adequate and accurate accounting information holds back many managers from optimizing their opportunities. The sad thing is the necessary information is often available, but if it is not properly identified or not properly formatted the opportunities can be missed. Unfortunately, the rigidity of computerized accounting programs can limit transparency and thereby restrict financial and operational opportunity. This Seminar seeks to cut through those kinds of problems.
Accounting knowledge and training beyond that of middle managers is NOT essential for this Seminar, but those with such knowledge and training will also find great value.
The Seminar will offer concrete examples and several forms, as well as including a modicum of mathematics for illustrative purposes.