On November 10th, our team volunteered once again in the spirit of the Thanksgiving season, to help those in need in the LA community. We greatly admire the work done by LA Food Bank to support the 1 in 7 hungry Angelinos and would encourage you and your team to do the same.
8020 Consulting celebrates MarVista Entertainment on 15 years of business success—as featured in the October 10, 2018, edition of The Hollywood Reporter. We would like to congratulate Fernando, Tony, Darrell, and the entire awesome team at MarVista, and we look forward to many more years of successful partnership.
The accounting community has been discussing the new leasing standard (ASC 842) since February of 2016. If your company hasn’t already developed an implementation plan, then now is the time. The new standard takes effect for public companies with annual periods beginning after Dec. 15, 2018 and for all other entities for annual periods beginning after Dec. 15, 2019.
A well-structured Financial Planning & Analysis (FP&A) team can facilitate the direction of a company, leveraging organizational strategy to guide departmental objectives. Think of FP&A as the financial nucleus of an organization: it keeps the movement and momentum of the organization synchronized—both financially and operationally.
As businesses grow and business leaders look for new opportunities and markets for their product, the idea of expanding into foreign geographies becomes attractive and strategically appropriate. However, favorable market conditions can lead executives to move forward before fully considering the business arrangements between the U.S. entity and the newly formed foreign entity.
Getting sales and finance to work together cohesively can be a challenge. Often, these two departments see each other as an impediment to reaching their respective goals.
Because finance is tasked with ensuring the company meets its bottom line goals, it can come into conflict with the sales task of driving revenue and its tendency to spend aggressively to accomplish its goals. By focusing on three best practices, sales and finance departments can bridge gaps and work in an effective partnership for the greater success of the overall organization.
Since the Trump tariffs started early this year, companies with global supply chains have been working to understand and manage the real-world impact.
At 8020 Consulting, we’ve worked with a variety of companies that want more visibility and greater control of their expenses. Those companies might start with obvious questions:
While M&A transactions can be daunting tasks for both buyers and sellers, generally the management of the seller (i.e., the “Target”) faces the most stressful phase of the process: the initial financial due diligence.
Written documentation of accounting procedures is often given a low priority in the accounting department. Many companies have seasoned employees, who may not need step-by-step directions to complete the monthly close process, prepare account analysis, or complete account reconciliations. In the interest of completing other business-critical tasks, they push updating written procedures to the back burner.
And they drastically increase their risk should a key employee abruptly leave.