Ramp’s Post

TEDIOUS WORK IS VALUABLE WORK!!! Why my teammate Daniel McCarthy, CPA, CFE, MBA, M.Acc Called me Out? When I called back office Accounting, Finance, Legal and Tax the "Boring work". He did it out of love for our craft, fellow CPA's need to stick together. And corrected me that it is just "tedious work". But also because he knows it drives business #profits and #exitvalue. That is valuable for both the #operators and the #investors. Why take the time away from the excitement of growing and selling sweet leaf to focus on back office? I get asked this question in many different ways from business owners. And i am sure my other CPA/Finance Processionals serving the cannabis industry have had it as well. (thinking of you Rachel Wright, CPA, MST, Melissa K. Diaz, CPA speaking at MJBiz, Erica Sloan CPA, CFE, MBA, FMVA, CGMA, CCCP,) Looking forward to crossing paths with yall at MJBiz. As business owners we prefer to focus on New Sales and Sales Fulfillment. I know this because I am this way. That stuff is fun IMO. Back-office tasks and responsibility can feel a bit monotonous and dull. It is not that fun to review the AR Aging and AP Aging each week. It is not that fun to review Inventory Turnover each week. It is not that fun to use a detailed by day checklist to close your books each month. It is not fun to have a budget to actual analysis conversation when the business continues to not hit their #'s. My teammate reminded me financial statements, SOP's and internal controls aren't just documents. They're survival tools that help keep business profitable and able to exit/sellable. Keep clients compliant = Tax Strategy + Paying Taxes + with Bank + With Sources of Capital. Prevent cash emergencies = Cash Flow Analysis each month. Plan strategic growth = Capital Management. Structure profitable operations = Budget 2 Actual Analysis each month. Raise capital when needed = Due Diligence is easier with audit trail + GAAP Fin. Stmt. We find this stuff a lot of fun to do for our clients DOPE CFO Certified Advisors/ If you are a CPA or Finance professional who finds the above valuable and is canna curious please reach out to Kristi Vaneé Kem or Andrew Hunzicker, CPA Founder of DOPECFO We are looking to grow in some key markets of NJ, PA and CO. New Jersey Society of CPAs Pennsylvania Society of Tax & Accounting Professionals Colorado Society of CPAs | COCPA

StrategicCFO360’s article “Finding and Retaining Tomorrow’s Talent” highlights insights offered by my colleague George Pentaris, Market Vice President of Ledgent Finance & Accounting in Los Angeles. From most in-demand skills for finance & accounting, to the importance of career development and company culture it’s worth a read.  Check out the whole article at https://lnkd.in/g9DzgXyu

Mike McCarthy, MP of Hancock Askew & Co., LLP & Co, shares how values, culture and a strategic vision drive success in today’s competitive accounting landscape. His emphasis on adapting to new tech, embracing niche services and fostering a collaborative "you-first" culture highlights the importance of resilience and relevance in accounting. Discover more in the full article: https://lnkd.in/gdpKmgRt #GrowthMindset #CultureMatters #FutureOfAccounting #TechInAccounting

“You look unprofessional.” The response in my head: “F*** off” My actual response: “My kids bought me this hat. I kind of like it.” I joined a call with some accounting professionals yesterday. We were there to talk about our company, Decimal, possibly buying their firm. As you might guess: I don’t think it’ll work out. That’s not the reason for the post though. Ironically none of them have a LinkedIn profile. I used that call to educate them on Decimal’s values and my why for doing it. - We talked about doing the right thing and how that includes treating people well.  - - We talked about the importance of teams producing high quality work while not focusing on dumb things like where they work or how they look.  - - We talked about moving fast and making things better in the context of stupid biases to the old ways of doing things that make no sense.  - - We talked about transparency and how if we moved forward, I’d keep my team updated on every step while they didn’t want to tell theirs until the deal closed. - Finally, we talked about economics. Why it’s more important to have good internal economics that are scalable than a high billable hour rate. (Jody Padar, more people need to read your book) My first screen for potential partners is a culture fit. That’s the most important thing. Will they mesh with our team. If not, there's no reason to look further. I’ll take my backwards hat and hoodie to the next call. Who’s with me?

Transforming from a traditional CPA firm to a forward-thinking advisory firm is not merely a change in services offered but a significant shift in mindset and operational strategy. The transition from CPA firm to advisory is about more than expanding services; it's about embracing a new identity that reflects the full breadth of your firm's capabilities and the depth of your commitment to clients' success. By leading your team through this change with enthusiasm, compassion and curiosity, you will help your team feel included and valued as the firm expands. https://hubs.li/Q02nnw9V0

REDW Advisors & CPAs are continuing their strategic growth by acquiring Hatcher Financial, a move that not only enhances REDW’s capabilities, but also expands their expertise in serving clients across diverse industries. Read more about this strategic expansion here: https://lnkd.in/gduZmbDt #Acquisition #Growth #Accounting #TeamSuccess #StrategicExpansion

A great article in Mainebiz highlighting the advantages of Fractional CFO services for local companies. Casey Skovran, MBA lead our fractional CFO team at Opus Consulting and serve as a friendly partner to Business owners and leaders in Maine looking for financial guidance in an accessible, affordable way. Share your thoughts and feedback. #outsourcedCFO #fractionalCFO #mainebusiness #businessconsulting #outsourcedmanagement #maine

The operating company Franklin Alliance has officially entered the accounting profession by announcing its first deal with Bement & Company. This bold move highlights the growing trend of cross-industry collaboration and underscores the increasing value placed on financial expertise in driving business success. Learn more about this private equity deal: https://lnkd.in/g2AeSntF #AccountingInnovation #StrategicGrowth #PrivateEquity #FinancialLeadership

Wes Bricker shares valuable insights from his career in Accounting and public service, highlighting the importance of trust-building. Throughout his journey, especially in recent years, he's reflected on the crucial role accountants play in society: ✅ Supporting business growth and operations ✅ Providing assurance over financial and non-financial information ✅ Fostering trust in our capital markets #Accounting #TrustInBusiness #FinancialIntegrity https://lnkd.in/eCz44Ud9

Did you know Mick Jagger worked in accounting before he took the stage as a rock legend? 🤘 Imagine a world where he stuck to spreadsheets instead of riffs! At Michael Dolezal & Co., we’re glad he followed his passion—just like we’re passionate about helping businesses rock their numbers and grow with confidence. 🎶💼 #FunFact #Accounting #RockAndRoll #BusinessAdvisors