Those in leadership and executive positions are always there when those around them stumble. But what happens when someone in a C-suite position stumbles? While those in leadership positions tend to feel like they need to constantly improve the workplace…

The prevalence of remote workers during and after the pandemic has forced businesses to deal with a new wave of collaboration struggles and security risks. Software and technology companies like Microsoft have responded to these needs with new software or…

The phrase ‘respect your elders’ has been in full effect lately, as people find that virtually every field is full of not-ready-to-retire folks. Many executives in accounting and other areas are of the older generation who get too much pride…

Getting employees back in the office has been a balancing act for many companies. With the risk of low productivity on one side and the risk of employees leaving on the other, it is a difficult task to keep the…

Last year we posted a blog titled The Evolving Role of the CFO: How Finance is Changing in the Modern World. In 2022, this blog gave insights into the expansion of the CFOs responsibilities, from financial reporting to strategic planning,…

The role of the CFO goes beyond the tracking and recording of finances that a bookkeeper or accountant might do. A CFO is responsible for analyzing and strategizing with this information to determine patterns and changes that can help the…

The uptake of AI in accounting practices has created an opportunity for evolution within companies and has cast some fear and doubt for those in the field. However, AI is not here to take the jobs of accountants, nor is…

On the tail-end of months stuck in our homes, it does not escape employees or employers that having a life outside of work has become a priority for many people. This has resulted in employment policies that encourage a healthier…

A stressful fact of business: There are times and situations during which every organization underperforms in some way. In order to reduce this stress, it is important that leadership teams can identify (whenever possible) when this underperformance occurs and why…

There are times and situations in which every organization underperforms at some level. It is a simple but sometimes stressful fact of business. In order to reduce this stress, it is important to be able to identify (whenever possible) when…

In the past four decades, tcobi has worked with over 80 organizations, including 23 not-for-profit organizations in local communities. Many times, we are called in when a transition is taking place with one accountant leaving and another coming onboard or…

Bank Reconciliations are one of the most important internal controls of any organization.  CPA’s are trained in school and on the job on how to do a proper bank reconciliation.  Their bosses may not be as familiar with bank reconciliations…

We don’t exist in isolation. As creatures of interaction, we flourish and prosper when surrounded by those that believe in our progress. Our prosperity also often depends on how others benefit from us. This is especially true for professionals striving…

Technology has always been a critical part of the business world, and that is only becoming more true as time goes on. To stay ahead of the competition, companies must invest in cutting-edge technology. However, making these investments can be…

As the world of finance evolves, CFOs must be prepared for changes that will impact their business. Technology advances have made businesses more globalized, and the CFO is increasingly responsible for preparing the company for the future.  To stay ahead…

The role of the CFO has evolved dramatically in recent years. No longer confined to a purely financial role, CFOs are now expected to help navigate their company through periods of volatility and achieve sustainable growth. Volatility has become the…

The Cloud is one of the most significant technological developments in recent years. The way we work, play, and even live has been affected.  The Cloud enables us to do things that were impossible before, such as stream video and…

Technology is changing the role of the CFO. No longer are they just responsible for financial reporting and analysis. They are now being tasked with driving transformation within the organization.  Many CFOs are using technology to help them achieve this…

The role of the CFO is evolving. In the past, the CFO was responsible for financial reporting and ensuring that the company complied with government regulations. However, in today’s world, the CFO is responsible for so much more. They are…

No one starts a business with the intention of failing, but the reality is that most startups do. No matter how well you plan, there is always a risk that your startup will not be successful, as no business is…

The Canadian nonprofit sector is composed of not-for-profit organizations, and this sector is dedicated to enhancing the quality of life for all Canadians. There are many different nonprofit organizations, including charities, social enterprises, and volunteer organizations.  Nonprofits play an important…

Starting a business is hard work. There are so many things to think about – from coming up with a clever and innovative idea to building a team of talented people to creating a product or service that people want…

When someone dies, their loved ones have to go through the process of settling their estate. Financial planning is one of the most crucial elements of estate settlement. This is a difficult task, especially if you don’t have any experience…

A well-functioning company goes through four stages in its lifecycle. Some companies move through these stages faster than others, but knowing where you are and what you need to do to move forward might mean the difference between success and…

Family businesses are often the backbone of the economy. Many of the world’s most well-known and successful businesses are owned by families. They create jobs, generate revenue, and aid developing nations in various ways.  According to a study from the…

Family businesses are an important part of the Canadian economy. They account for more than 60% of all businesses in Canada, and they generate more than half of the country’s private-sector GDP. In addition, they provide jobs for millions of…

As the Harvard Business Review reported in September 2021: “According to the U.S. Bureau of Labor Statistics, 4 million Americans quit their jobs in July 2021. Resignations peaked in April and have remained abnormally high for the last several months,…

In Ontario, there are a number of Grant and Loan Programs available to help you start or grow your business. Grant and Loan Program options vary in terms of funding, eligibility requirements, and interest rates. In this article we will…

As the world has become increasingly prone to use legal avenues to settle otherwise common disputes, many businesses have found themselves vulnerable. The unexpected and often excessive costs that arise from misinformed or malicious litigation often fall between the gaps…

With the recent news of increasingly intense hurricane seasons pummelling the eastern seaboard, floods damaging wide swaths of Europe, and the destructions caused by wildfires, businesses everywhere are thinking and rethinking insurance options. Luckily, product innovations and enhanced data analytics…

It is an understatement to point out that companies that suffer a data breach face substantial financial costs. Direct costs include the expense associated with breach detection, notification, and remediation, while indirect costs focus primarily on damage to brand image,…

No corner of the business world can escape the enhanced scrutiny and reporting that comes with demands for increased transparency and public accountability, including those organizations operating in the not-for-profit sector. And given the fallout across the Canadian not-for-profit ecosystem…

In my previous blog, I looked at the importance for CFOs to take a deeper dive into the details of their subsequent business interruption insurance. Given the lessons learned during the COVID pandemic, it is imperative that CFOs continue to…

While there are very few constants in today’s business world, the need for insurance is one that every CFO takes time to review annually or even more often. And with the insurance marketplace offering fewer offerings and increasing tight limit…

Although global markets are likely months away from a full re-opening to something remotely close to pre-pandemic levels, several issues are already on the radar of CFOs as they monitor some of the risks and opportunities projected to appear on…

In my previous blog, I started to explore some of the key priorities and challenges facing CFOs in 2021 and beyond. These included managing the inevitable and potentially disruptive digital transformation, rebuilding or restructuring organizational culture as hybrid or work-from-home…

Among many other disruptions to business, the pandemic has created a highly volatile and potentially dangerous environment that companies must negotiate. The most recent case is the former unicorn Peloton, which has been hit by not one but three seismic…

In my previous post, I explained what a fractional or interim financial executive does, how the position differs from a traditional hire and some situations in which your company might benefit from considering a fractional financial executive. In this blog,…

New clients often ask me two questions when we first meet: what is a fractional Controller or Chief Financial Officer (CFO), and what do you do in each role? Here is a brief guide to the world of fractional executives…