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Common Money Mistakes We Make As We Age

It is common knowledge that as we grow old, our bodies tend to not work as well. Some folks begin having physical challenges, some have cognitive issues and some have both. But what we don’t know is which, if any, of those challenges we will face. Worse yet, those who fall into cognitive decline often do not have the ability to recognize it.

The lesson here is to prepare for the unknown. If you’ve worked with financial advisors throughout your career, it’s a good idea to narrow your resources to one or two trusted people – possibly including a family member. That way, if and when you need help managing your finances, you’ll have a loved one who can help recognize when it’s time for you to relinquish managing the reins – and an expert to help take over.

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Time to Dismiss the Rivalry Between Sales and Finance

The rivalry between firms’ sales and financial departments is real. Rather than seeing each department as a player with a different position in the same team, erroneous perceptions lead many to view them as opposing teams in the same sport. However, if a firm wants to achieve competitive advantage, it must understand the critical roles finance and sales play for each other. Read more

utah valley cfo services

5 Budget Secrets for Your Business and Personal Life

By Mckenna Gustafson, executive assistant to Randy Russon, founder of TOP CFOS

When asked about their most important financial goal, people generally agree that sticking to a budget is the most important to them.  It’s shocking to note that while this is the case, fifty-seven percent of households don’t have a budget according to a recent study by Harris interactive.

Here are five simple ways to get started in combating this national trend and achieving a level of financial freedom where your money works for you.
  1. Spend less than you earn. It is not about how much you make as long as you can follow this simple rule. As long as the credits are more than the debits, you can stay in the green. It is a simple principle, but much harder to put into practice. Just ask a politician. Read more
Financial Analysis, CFO

Financial Analysis

By Tyler Garrett, executive assistant to Randy Russon, founder of TOP CFOS

CEOs have a lot on their plate, from managing a business to developing a vision for future growth. Being fully aware of the company’s financials is another item of interest for CEOs, and analyzing those financials is even more important. In fact, companies should perform regular financial analyses because they lead to so many important questions. Critical questions that can be asked after doing a financial analysis include:

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Funding Sources, CFO

Funding Sources

By Tyler Garrett, executive assistant to Randy Russon, founder of TOP CFOS

A little extra cash can be very beneficial when a business isn’t making enough money. These extra funds can come from a few sources, but before seeking these funding sources, a company needs to be able to display its finances professionally. This includes preparing excellent profit/loss reports and balance sheet statements. If you’re trying to impress an investor or banker, then your presentation of this information can influence a yes or no response. Just like fly-fishing: You have to make the right presentation, or the big browns won’t strike. It’s the same when approaching an investor or banker.

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TOP CFOS Will Uncover Hidden Profit Centers, CFO, Gold

TOP CFOS Will Uncover Hidden Profit Centers

By Tyler Garrett, executive assistant to Randy Russon, founder of TOP CFOS

Most businesses operate with very high efficiency. With just the right degree of work, they’re able to generate an impressive cash flow and maximize their returns on investments. Though, what most businesses aren’t aware of is that they usually have thousands and thousands of dollars sitting around in hidden profit centers.

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