Audits, reviews and compilations

Think you need an audit? Most small businesses really don't. There's a misconception that 'audited' financial statements are frequently required when the reality is that most of the financial statements provided to banks, insurance companies and creditors are compilations or reviews. Find out what these terms mean and how the differ from one another.

Download 060711-audits.MP3

Note: clicking on the link above should play the podcast using your browser software and associated plugins. If you would like to subscribe to the podcast using Apple's itunes software see the post "Subscribe to Axiom's Podcast."

Mortgage Modelling

While it's true the housing market is quieter than it has been in the last several years there is still plenty of activity, especially among savvy buyers. While most of our focus is on commercial and business activities we do get asked to "look over the numbers" for some friends and individual clients. Often they are amazed at what can be done in Excel in a very short period. The attached worksheet was put together in about 15 minutes as I went through the high points and various home buying scenarios with a friend of mine. I left it fairly "rough" so you can get a sense of the rudimentary elements necessary for decision making. While colors, graphs and fonts create a more attractive and sometimes insightful presenation I have found that in most cases a few good numbers and the ability to change things on the fly are more helpful.

Download mortgage_financial_model.xls

Joey Brannon is the founder of Axiom Professional Group, a tax, consulting and accounting firm in Bradenton, Florida. Mr. Brannon is both a CPA and an EA. You can find out more about Axiom by visiting www.axiomcpa.com.

Internal Controls for Small Business

Internal controls are simply the business practices within an organization that help it safeguard assets and protect against fraud and mismanagment of resources. Internal controls have received much more attention since Sarbanes Oxley begain requiring their documentation in large companies. However, small business and particularly small business owners can benefit greatly from implementing a few best practices with regard to cash, accounts payable, accounts receivable and fixed assets. These are the areas we discuss with regard to internal controls in this podcast.

Download 060703internal_controls.MP3

Note: clicking on the link above should play the podcast using your browser software and associated plugins. If you would like to subscribe to the podcast using Apple's itunes software see the post "Subscribe to Axiom's Podcast."

Budgets (part 2 of 2)

The previous podcast was directed at those without a budget. This time we talk about how to get the most out of the budget process after you have gone to all the trouble to create one in the first place.

Download 060626budgets_part2.MP3

Note: clicking on the link above should play the podcast using your browser software and associated plugins. If you would like to subscribe to the podcast using Apple's itunes software see the post "Subscribe to Axiom's Podcast."

Building a Budget (1 of 2)

Budgets are one of the most basic business tools. Unfortunately, not every small business owner takes advantage of them. This podcast talks about the budget creation process and what you need to do to get started.

Download 060620budgets_part1.MP3

Note: clicking on the link above should play the podcast using your browser software and associated plugins. If you would like to subscribe to the podcast using Apple's itunes software see the post "Subscribe to Axiom's Podcast."