Business: Beyond the Obvious

Sharpen your competitive edge with the latest expert financial, tech, operational, and HR insights.

Financial

The 2024 Tax Calendar

To help you make sure you get all the important 2024 deadlines, we've provided this summary of when various tax-related forms, payments and other actions are due. Read more.

Not-for-Profits and the Current Expected Credit Loss (CECL) Model

The current expected credit loss (CECL) model, introduced by the Financial Accounting Standards Board (FASB) in ASU 2016-13, aims to simplify US GAAP and promptly recognize credit losses. It addresses the limitations of the previous model by requiring immediate recognition of estimated expected credit losses based on historical data and current economic conditions. Not-for-profits, specifically, will appreciate that the CECL model excludes contributions (pledges) receivable. Read more.

Technology

Why Tested Business Continuity Plans Are Important in a Crisis

“All businesses should have a business continuity plan because every one of them could be affected by disruptions,” says Carly Devlin, CISO and Shareholder. “Without a business continuity plan, it could take longer than necessary to recover, or the business might not recover at all."

Hear more about the importance of cybersecurity and business continuity. Read more.

Operations

How to Build a Transformative Executive Team

A transformative executive team includes leaders with the skills, experience, and capabilities to make step-change improvements that significantly alter the trajectory of a business. Read more.

“In growing organizations, CEOs often believe that they are the only person in the organization that can envision the future and drive needed change,” says Peter Olmsted, Managing Director at Clark Schaefer Executive Search. “They feel that the weight of the organization is solely on their shoulders, and it’s up to them to make all transformation happen. That doesn’t need to be the case.”

Make Your Not-For-Profit Mission Statement Mean Something

How many of your employees or clients are familiar with your mission statement? Especially in the world of not-for-profit entities, a mission statement is foundational in strategic planning and aligning efforts of an organization’s members toward a common purpose. Truth be told, many mission statements fail, becoming nothing more than a paragraph tucked into a seldom-read company handbook. Read more.

ESG Reporting Gathers Momentum Heading into 2024

Environmental, social, and governance (ESG) issues garnered significant media attention in 2023, and 2024 will likely follow suit. We witnessed the publication of two new global sustainability standards alongside the passing of two contentious laws in California. These new California laws mandate the largest entities operating within the state to disclose climate-related information starting in 2026. Read more.

Human Resources

The Difference Between Applicants and Candidates

When it comes to the recruitment process, the terms “candidate” and “applicant” are often used interchangeably, yet they carry distinct meanings. Understanding the divergence between these labels is important for job seekers and employers navigating recruitment. Read more.

The Top Seven Handbook Policies to Include This Year

We recommend reviewing your handbook at least once a year to ensure that your policies are up-to-date, inclusive, and reflective of the environment in which your organization operates. Every employee in your organization should receive a copy of your handbook when they start their employment and sign an acknowledgment that they received it. What are the latest considerations to make in your 2024 edition? Read more.

Clark Schaefer Hackett is more than an accounting and advisory firm; we’re striving to be your most valued advisor. We accomplish this through becoming an extension of your team in areas such as financial, technological, operational, and human resources. Connect with us today to discuss how we can support your growing organization through our family of brands: Clark Schaefer Consulting , Clark Schaefer Strategic HR , and Clark Schaefer Executive Search .