It’s a Small World After All
Technology has been changing the world May 6th, 2010 has been dubbed the flash crash for several reasons. As technology increases, the amount of exchanged commodities and services increases. However, there comes a cost to a shrunken view of the world’s exchange of services, particularly in the financial sector. It’s hard to believe that automated computer […]
Fraud in Accounting
Fraud in accounting has come full circle since Sarbanes Oxley in 2002. It goes by several different names but affects companies in almost all the same ways. Asset misappropriation There are several basic types of fraud. however, asset misappropriation and financial statement fraud are some of the most common among growing businesses. When you hear […]
CFO vs. Controller
What are the differences? When identifying the differences between a Chief Financial Officer (CFO) and a Financial Controller, a growing company needs to understand the different roles and duties each play in the business. In its most simplified context, a CFO oversees, interprets and forecasts the entire business financial outlook, while the Controller relays a […]
Good People. Bad System.
Good people, bad system So often the problem is in the system, not in the people. If you put good people in bad systems, you get bad results. You have to water the flowers you want to grow. As people really learn to think Win/Win, they can set up the systems to create and reinforce […]
Your Accountant Sucks and Here’s Why
Accounting requires experience They stopped learning, stopped caring and forgot what the purpose of their job is. I never understood why my profession is governed by the idea that “old” is automatically good – that an individual with 30 years of experience is often seen as “knowledgeable” and “experienced.” While experience does play a big […]
No Fancy Phone System Here
Alternative solutions to your phone So you are a startup like DeepSky and doesn’t have too much budget for a fancy phone system for your office. What do you do? Two things. Google Voice and Skype. It has treated our little startup very well. Google Voice Google Voice is a free service (used to be […]
The Importance of Internal Control
You want to be an honest, accountable company. Why? For one, trust is a commodity that consumers value. Once you lose trust, it can take ages to regain it because people are suspicious by nature. You obviously want to build it up for as long as possible. For another, companies have a great incentive to […]
Why You Can’t Work at Work
If you’ve been following my story for a while now, you’d know that my outsourced accounting startup – DeepSky – is really not like a traditional accounting firm at all. The reason being that most of my ideas of how to run this company came from entrepreneurs who I admire, study and learn from. Optimized […]
New Hire: Welcome Announcement #1
Hi everyone, this is Aaron! Hello All, Aaron Chhokar here! As the newest member, and intern, I just wanted to give you a little background on myself. As an undergraduate at the University of California Irvine, double majoring in Business Economics and International Relations, and obtaining a minor in Business Management, I definitely keep myself […]
Leadership vs. Management
Leadership versus Management In the words of Peter Drucker, “Management is doing things right; leadership is doing the right things.” Management Envision a group of producers cutting through a jungle – they are the problem solvers – cutting through all the undergrowth, clearing it out. The managers are behind them, sharpening their machetes (making the […]
