Will buying local really save the world? Well, perhaps “saving the world” is a bit dramatic, but buying locally might be a wise move once you consider all of the benefits of local sourcing compared to the risks of global sourcing. A couple of weeks ago, as I discussed techniques for strategic planning during these uncertain times, I suggested that…
In these strange and uncertain times, it seems like we need a fortune teller to tell us what to do. I am not a believer in relying upon Zoltar, the fortune teller, for business advice but I do like the idea of imagining the future in order to provide insights for present choices. A Client’s Dilemma The other day I…
Having debt is bad, right? In every introductory accounting class that I teach at least one MBA student will ask me that question. As with many things in life, the answer is “it depends”. Personal Debt The word debt has negative connotations so it does not surprise me when students assume that debt in a company is bad. There are…
If you own a restaurant and are still trying to survive, you will not regret asking yourself this question one more time: “Should I close my restaurant?” You are probably the gritty, never give up type of person who has been able to survive in an incredibly competitive and low profit margin industry so it never crossed your mind to…
What is Goodwill for a company? When you strip it down, Goodwill is the value of Trust. Goodwill is an intangible asset (a future benefit that you can’t touch) which exists because stakeholder’s trust the company: they trust what the brand stands for, they trust the company’s collective judgement and they trust in the attributes of the company’s products, services,…
It is understood that modern accounting traces it’s roots back to the merchants of Venice in the 15th century. Luca Pacioli is credited for creating the double entry bookkeeping system to assist those merchants. The bookkeeping that we use today is virtually unchanged from what was developed by Pacioli in 1494.
