Abrigo
NOVEMBER 5, 2014
'During a recent webinar, more than 200 banks and credit unions weighed in through various polls on how they have been managing their allowance for loan and lease losses. In particular, feedback was given on how they release reserves, use an unallocated reserve and use external Q factor(s) most heavily. The first topic of discussion was whether or not banks have released reserves in the past four quarters.
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NOVEMBER 20, 2014
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Abrigo
NOVEMBER 29, 2014
'It’s high time for a foundational shift in the resources bankers use to calculate the ALLL. Years ago, using spreadsheets was by far and away the best option – primarily because it was the only option. To those in the early 20th century, the typewriter was the most efficient way to write letters and the Model T was the latest and greatest in transportation.
Abrigo
NOVEMBER 24, 2014
'The prevalence of stress testing within banks and credit unions has risen considerably in recent periods thanks to increased regulatory attention and the benefit of greater insight into financial institutions’ portfolios. While there aren’t set requirements in place for those under $10 billion in assets, interagency expectations have been set for stress testing by community banks.
Abrigo
NOVEMBER 21, 2014
'Final guidance on the Current Expected Credit Loss (CECL) model has been an anticipated event in the eyes of bankers and other financial professionals. Its release marks the end of the incurred loss model in accounting for expected losses and brings with it a slew of process changes in the way financial institutions collect data and perform their ALLL calculations.
Abrigo
NOVEMBER 20, 2014
'In preparing for the allowance for loan and lease losses (ALLL) calculation in 2015, bankers have a lot on their plates. The ALLL has received significantly more attention in the past few years, and the trend of examiner scrutiny does not appear to be letting up. If anything, regulatory bodies will be focusing even more on the allowance calculation in 2015 as institutions switch from an incurred loss model to an expected loss model.
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Abrigo
NOVEMBER 13, 2014
'Let’s face it: business owners need accountants for more than taxes alone. Many people who start and run businesses lack the financial perspective to be able to look at their financial statements and see potential pitfalls or opportunities for improving performance. And they desire guidance on how to plan for the future – both in their business and in their personal finances.
Abrigo
NOVEMBER 19, 2014
'3 out of 4 clients of financial services think their CPA is behind or just keeping up with technology. Learn how being an early adopter of technology can help your firm win more clients and add value by cross-selling additional services. Download this infographic today ! According to The Sleeter Group , “Small and medium-sized businesses no longer simply require tax and compliance-related services.
Abrigo
NOVEMBER 11, 2014
'45% of accounting clients prefer an accountant who is adaptive to changes in technology. Leveraging technology can help accountants discover new avenues for improving lead generation, increasing the efficiency of their workflow, and adding value to their service offerings. Establish yourself as a forward-looking accountant and prepare your firm for the next generation of clients.
Abrigo
NOVEMBER 8, 2014
'With an estimated 75 million baby boomers in the U.S. and 7 million of them owning privately held businesses, the number of companies to hit the market in the next 10 years is likely to provide a large amount of opportunities for the valuation industry. This checklist provides 10 scenarios accountants can review to help determine who may have potential needs for valuation services.
Abrigo
NOVEMBER 6, 2014
'Core tax and accounting services will remain integral to the accounting profession, but accountants may also find opportunities in specialty services, an AICPA leader said this week. Carl Peterson, vice president of the AICPA’s small firm interests groups, told Accounting Today’s Growth & Profitability Summit this week that accountants are widening their assortment of advisory services and specialties, such as valuation, forensics and risk-related services, according to the trad
Abrigo
NOVEMBER 1, 2014
'Being an effective communicator is something that many people struggle with every day. Irish playwright George Bernard Shaw once said that, “the single biggest problem in communication is the illusion that it has taken place.” Upon reading that, there are likely many people nodding their heads. But communication is not only an individual challenge.
Abrigo
NOVEMBER 28, 2014
'How many times in the last year have you or someone at your accounting firm said, “We’d love to expand into that area, but we’re too busy”? Or “I’m too busy to switch over to a new way of doing things that may be better/more efficient”? How many times have you had to refer a client out to another financial services firm because your firm is too busy putting out fires with tax and audit work to provide business analytics or other advisory services ?
Abrigo
NOVEMBER 4, 2014
'If your accounting firm doesn''t have a formal marketing plan in place, you''re not alone. Six out of seven accounting firms represented at a recent webinar hosted by Sageworks said their firms lack such a plan to guide their efforts to attract new business and bolster their reputation or brand. Of course, if your firm has, or is cultivating, an industry niche , you''re already ahead of many other firms.
Abrigo
NOVEMBER 21, 2014
'Now that banks have filed their third quarter financial reports , what did the lending picture look like last quarter? Specifically for businesses, are commercial loans on the rise? Nationally, the picture is a fine one. Total commercial and industrial (C&I) loans across all 6,600+ U.S. banks is up $157 billion from the same period in 2013. However, Q3 commercial lending is down from the beginning of 2014 (quarter ending 3/31/2014) by about $67 billion.
Abrigo
NOVEMBER 12, 2014
'With an improving economic environment, many banks are seeing strong loan growth. In fact, a recent report from the OCC highlighted the fact that loan growth doubled over the past year in the Northeastern district. However, it is important for institutions to remain disciplined during this growth, all the way down to the global cash flow analysis of a loan.
Abrigo
NOVEMBER 25, 2014
'Clients of accounting services hold their accountants as one of their most trusted business advisors. This high level of confidence positions you, as a CPA, in a role where you can offer services beyond commodities such as bookkeeping and tax preparation. In a recent case study , Sageworks’ customer Mueller Prost LC, describes how utilizing ProfitCents has helped them become a strategic partner to their clients rather than just another vendor.
Abrigo
NOVEMBER 25, 2014
'For some accountants, tax and audit services are attractive for the recurring revenue streams and steady client base they provide. Some of those same accountants believe they’re too busy to provide value-added type 2 services such as business valuations, so they refer out their clients who have needs in those areas. Indeed, more than 35 percent of financial professionals polled during a recent webinar on how to prepare for booming growth in the valuation industry said they have sent clien
Abrigo
NOVEMBER 18, 2014
'Many of the world’s biggest brands have interesting back stories to their famous names and slogans. It’s been part of the folklore with coffee maker Maxwell House that President Theodore Roosevelt coined its “good to the last drop” slogan sometime around 1907. The story will likely never be deemed as fact, but The Theodore Roosevelt Association does claim they know of a credible witness who can attest that the conversation took place.
Abrigo
NOVEMBER 15, 2014
'Much like the internet was once considered a fad, the same was said not so long ago about social media. Earlier this year, Facebook reported more than 1.35 billion active users logging on monthly. That’s roughly 20 percent of the world population. Take a second to allow that to sink in; it is an incredible statistic. The social network truly connects people.
Abrigo
NOVEMBER 14, 2014
'Do you work at one of the best banks in the country? American Banker just released its second annual ranking of the best banks to work for in the U.S. The rankings are based on employee opinions of the work environment, benefits, career-advancement opportunities and perks such as subsidized gym memberships. The top 10 banks on American Banker’s list are featured below.
Abrigo
NOVEMBER 10, 2014
'According to CB Insight , community bankers felt Q3 was a light one in terms of regulatory compliance. However, the Q3 2014 Banking Compliance Index (BCI), shows otherwise. The third quarter marked the highest level of regulatory changes since 1995, with 82 changes implemented. As a result, banks are having to spend more time and resources on complying with regulations instead of profitable activities such as booking new loans.
Abrigo
NOVEMBER 3, 2014
'Every bank has a board of directors , with each member providing his or her experience and expertise to develop strategic plans and enhance the institution as a whole. According to the FDIC , the Board’s role includes: • Selection, monitoring and evaluation of management • Establishment of business strategies and policies • Monitoring and assessment of business operation progress • Establishment and monitoring of adherence to policies and procedures required • Mak
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NOVEMBER 11, 2014
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