8 min read April 30th, 2024 As a business leader, your job is not only to make decisions on behalf of your company. Your job also entails leading the people in your company.  Key Takeaways What Is the Adaptive Leadership Style: In adaptive leadership, problems or challenges are separated into two different categories, technical problems and adaptive problems. Technical problems have clear solutions… Leadership Best Practices for All Leadership Styles: Effective leaders trust their people. As a result, they feel confident in delegating tasks to their people and empowering their p ..read more

9 min read April 23rd, 2024 Key performance indicators (KPIs) are metrics that are calculated using a business's operational and financial data. Generally, KPIs are used to measure, track, evaluate, and improve performance.  Key Takeaways Types of Industry-Specific KPIs for Construction Firms: Depending on your construction firm's specific business strategy, goals, and challenges, there might be other types of KPIs that are relevant to measuring performance within your business's unique situation… 7 Top Financial KPIs and Charts for Construction Firms: In a construction company ..read more

9 min read A hallmark of any successful organization is adaptability. As a nonprofit leader, you already understand the importance of being aware of the shifting nonprofit landscape and being ready to evolve your strategies and adapt your organization for success. Key Takeaways Growing Competition in the Nonprofit Landscape: Inflation has impacted 47% of American's charitable giving, and in 2022, Americans donated the smallest amount in 30 years… Automation in Fundraising: Automation tools can save you and your team time and resources, increasing your ROI on labor and making the mos ..read more

9 min read Building a strong board is essential to your mission's success because a nonprofit's board of directors is a governing body responsible for the leadership of the nonprofit organization. The board should provide foresight, oversight, and insights to improve the organization as a whole, helping it to accomplish its mission. Key Takeaways 10 Qualities of a Good Board Member: The curation of a strong nonprofit board relies on the selection of high-quality, individual board members. Look for the following qualities in the individuals you choose for your nonprofit board… The Im ..read more

7 min read According to theBureau of Labor Statistics, some estimates show that only 5% of total work hours in the U.S. were remote before the pandemic, and a whopping 50% of work hours were remote between April and December of 2020. From 2019 to 2021 shutdowns related to the global pandemic pushed businesses to transform their operations and structure. This more thantripled the remote workforce. Key Takeaways Is Remote Work Better for Employees: 91% have had positive remote work experiences, only 1% have had negative remote work experiences, and 8% felt neutral about remote work… D ..read more

7 min read Just four financial reports are required for nonprofit organizations: the statement of financial position (balance sheet), statement of activities (income statement), statement of cash flow, and statement of functional expenses. Notably absent is the nonprofit chart of accounts. While this financial report is not required, maintaining a chart of accounts is highly beneficial to your organization, its management, its operation, and its oversight by the board of directors. Key Takeaways Why Your Nonprofit Needs a Chart of Accounts: At a glance, the structure provided by the c ..read more

7 min read Most business leaders are familiar with their year-end financial closing process because it's closely associated with tax reporting. Key Takeaways What Is a Month-End Close: A month-end close is a set of bookkeeping and accounting tasks that are performed at the end of each month in a business to close out the month-long accounting period… Prepare Your Financial Statements: Your business's basic financial statements are the primary deliverables generated during the month-end close. These financial reports include the income statement (profit and loss statement), balance s ..read more

6 min read The ability to allocate revenue and expenses is essential to determining the performance of various segments within your business, and this information is vital to running a profitable business. This means not just understanding how much your business spends and earns across the board but also understanding how much it spends and earns as a result of specific projects, products, services, employees, departments, or other critical units. Key Takeaways What Is Dynamic Allocations: A fully automated cash flow allocation tool, Dynamic Allocations is a feature of Sage Intacct ac ..read more

8 min read A survey of architecture firms from the American Institute of Architects has found that the top three concerns of industry leaders in 2024 are increasing their firm's revenue (30.3%), managing rising costs (21.8%), and negotiating appropriate project fees (20.1%). Key Takeaways Best Practices for Financial Management in Architecture Firms: Shifts in the economy and within the industry will impact your business. For this reason, it is essential to keep a close watch on the economy and the architecture industry and adjust your financial strategy… Management Accounting: Iden ..read more

9 min read Nonprofit organizations do not pay taxes, so they are not subject to audits performed by the Internal Revenue Service. Audits, however, are still sometimes required for nonprofit organizations by federal, state, or local entities.  Key Takeaways What Is a Nonprofit Audit: While audits often do focus on finances, they can also encompass an evaluation of an organization's internal operations, compliance with rules and regulations, compliance with… How an Audit Can Benefit Your Nonprofit Organization: An audit shows that an organization takes its finances and operations ..read more