Preventing employee theft is not an easy task. Today’s business owner knows that safety procedures and thorough background checks are not enough. This is a battle one must enter well-armed and the best weapon against this disturbingly common crime is information. You need to know who and what you are up against. In order to [...]
There is no hard and fast forecasting process, but the following steps are generally applicable to most forecasting efforts: Take some time and list out all the basic facts about past trends and forecasts. What have you noticed about changes in past actual demand? Why did it increase? Why did it decrease? Analyze the cause [...]
Incidences of fraud and employee theft in the United States are on the rise. If you are –or plan to be- a business owner, this is a reality that will eventually affect you. It could very possibly change the way you manage your organization and force you to re-think your priorities. Every year, Marquet International, [...]
The more frequently you come back to look at your statistics, the easier this process will become. Soon you’ll get to the point where you can look at other people’s financial statements and know at a glance whether they are in trouble now or soon will be. The two purposes of statistics are to assess [...]
How common is resume fraud? Do you really know who works for your organization? If you are relying solely on the information provided in your employee’s resume, the answer is no. Let’s look at an example. In August 2001, Mr. Patrick Couwenberg, a judge in the Los Angeles Superior Court was removed from the bench. [...]
When you’re analyzing other business’s financial statements, the toughest to read will be the start-up businesses. That’s because their financial statements are usually prospective and are full of assumptions (otherwise known as “Gosh I hope so”). There are two important things to review here. Look at the assumptions. Is the amount of income and the [...]
She mingled with the rich and famous, wore stunning diamonds and was an everyday fixture at exclusive equestrian events. Meet Melissa G. King, 58, who in December 2009, was arrested and charged with embezzling $42.6 million from the New York City Sandhogs’ Union Local 147 while being employed as their Benefits Fund Administrator. According to [...]
The last business indicator on our list, Return on Investment, a key element that will help you determine if you are on the right track to reaching your financial goals. Return on Investment (Net Profit to Equity) You will find this ratio by dividing the net profit of your business by its equity. This is [...]
“We trusted her completely”, “He was like family to us!”, “She was the most reliable person in the office”, “He had been with the company for years!” These are common reactions business owners experience after falling victim to an embezzler. They feel betrayed and cannot understand why they were not able to prevent it, even [...]
Business Leading Indicators will help you predict your organization’s performance. Following are 4 critical indicators you should track on a regular basis. Gross Margin or Profit Margin (Gross Profit by Sales) This ratio measures the ability of your business to make a profit. You’ll find it by dividing the gross profit of your business by [...]
