Your CPA said what?

What is Entrepreneurship?

This week I'm going to steal a podcast from someone else rather than create my own. If you read the July newsletter that came out this morning you know I'm a huge fan of the Entrepreneurial Thought Leaders lecture series podcast put out by the Stanford University. This lecture featuring Jeff Hawkins took place May 18, 2005. Hawkins is the founder of Palm Computing and Handspring and he has what I think is the best conceptual framework of entrepreneurship that I've ever heard. Check it out.

http://www.stanford.edu/group/edcorner/uploads/podcast/hawkins050518.mp3

Note: clicking on the link above should play the podcast using your browser software and associated plugins. If you would like to subscribe to the podcast using Apple's itunes software see the post "Subscribe to Axiom's Podcast."

Creating a CYA Journal

I don't quite know how I found this article or who pointed me to bellaonline.com but I found it to be an interesting method for organizing the work day. If you tend toward manual rather than tech driven solutions or have a fondness for good old fashioned notebooks this is a great idea.

Finding a Good Accountant

I feel like I could have written this short article from AllBusiness.com. Although I don't like to pigeon-hole our services under the "accountant" moniker these tips  are exactly what I tell clients, friends and family members they should be looking for as they interview prospects for their business needs.

Managing Risk

How to migrate from taking risks to managing them.

When helping new business one of the things that we try to do is make sure they are managing risk properly. There are three questions we pose to assess the extent to which risk is being managed versus an attitude of reckless abadonement.

1. Have alternatives and options been considered?
2. Have the financial and intellectual resources been gathered?
3. Have you figured out how you are going to monitor your progress?

This podcasts talks about each area and how business can go from taking risks to managing them.

download 060718-risk.MP3

Note: clicking on the link above should play the podcast using your browser software and associated plugins. If you would like to subscribe to the podcast using Apple's itunes software see the post "Subscribe to Axiom's Podcast."

Audits, reviews and compilations

Think you need an audit? Most small businesses really don't. There's a misconception that 'audited' financial statements are frequently required when the reality is that most of the financial statements provided to banks, insurance companies and creditors are compilations or reviews. Find out what these terms mean and how the differ from one another.

Download 060711-audits.MP3

Note: clicking on the link above should play the podcast using your browser software and associated plugins. If you would like to subscribe to the podcast using Apple's itunes software see the post "Subscribe to Axiom's Podcast."

 

Mortgage Modelling

While it's true the housing market is quieter than it has been in the last several years there is still plenty of activity, especially among savvy buyers. While most of our focus is on commercial and business activities we do get asked to "look over the numbers" for some friends and individual clients. Often they are amazed at what can be done in Excel in a very short period. The attached worksheet was put together in about 15 minutes as I went through the high points and various home buying scenarios with a friend of mine. I left it fairly "rough" so you can get a sense of the rudimentary elements necessary for decision making. While colors, graphs and fonts create a more attractive and sometimes insightful presenation I have found that in most cases a few good numbers and the ability to change things on the fly are more helpful.

Download mortgage_financial_model.xls

Joey Brannon is the founder of Axiom Professional Group, a tax, consulting and accounting firm in Bradenton, Florida. Mr. Brannon is both a CPA and an EA. You can find out more about Axiom by visiting www.axiomcpa.com.

Internal Controls for Small Business

Internal controls are simply the business practices within an organization that help it safeguard assets and protect against fraud and mismanagment of resources. Internal controls have received much more attention since Sarbanes Oxley begain requiring their documentation in large companies. However, small business and particularly small business owners can benefit greatly from implementing a few best practices with regard to cash, accounts payable, accounts receivable and fixed assets. These are the areas we discuss with regard to internal controls in this podcast.

Download 060703internal_controls.MP3

Note: clicking on the link above should play the podcast using your browser software and associated plugins. If you would like to subscribe to the podcast using Apple's itunes software see the post "Subscribe to Axiom's Podcast."