Abrigo
OCTOBER 25, 2014
'Singer-songwriter Joni Mitchell was referring to environmental impacts when she sang, “Don’t it always seem to go/That you don’t know what you’ve got/Till it’s gone” in "Big Yellow Taxi." But chances are, many accountants have the same thought after a client leaves the practice – especially someone who was with the firm for several years.
GoCardless
DECEMBER 17, 2014
We’ve scoured our database of more than 3 million payments to bring to you some cold, hard facts about Direct Debit. This should help you decide whether or not Direct Debit is right for you.
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Prime Commercial Lending
AUGUST 25, 2014
If you are making the exciting leap toward opening your own business, you’re probably going to need to learn more about business loans. Here a few answers to some frequently asked questions about obtaining unsecured loans to finance your small business. What is an Unsecured Business Loan? Unlike a secured loan, this type of loan doesn’t require you to put up any collateral.
Abrigo
OCTOBER 3, 2014
'Comedian and television writer/producer Larry David has said, “I''m not a person who embraces challenges. I run from challenges. I break world records running from challenges.” Humor aside, accountants don’t have the luxury of thinking that way. While accounting was identified as the most profitable industry of the last 12 months , it is not without its challenges.
Abrigo
SEPTEMBER 23, 2014
'As banks are increasingly playing a bigger role in commercial real estate lending, it is more important than ever to ensure proper risk management practices. This is especially true for banks exceeding one or both of the commercial real estate (CRE) supervisory criteria. According to Forbes , U.S. banks are seeing incredibly low loss rates on CRE and construction loans relative to the past six years.
Abrigo
OCTOBER 27, 2014
'With the fourth quarter of 2014 well underway, both banks and credit unions are in the midst of reporting their results from the previous three months. While Q3 reports will trickle in over the coming days to meet the end of October deadline, a crucial piece of the puzzle the financial community and economists will be looking at is loan growth rates.
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Abrigo
DECEMBER 12, 2014
'Do you recall your first few years post-grad? You may yearn for fewer responsibilities (and wrinkles) and more “free” time of ages 22 through your mid to late 20s, or you may remember it less fondly in a small apartment with many roommates and less in the bank. No matter if that time in your life skews positively or otherwise, your career was in a very different place than it is now.
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.
Abrigo
OCTOBER 29, 2014
'Multifamily, commercial and automotive loans are driving loan growth among banks in the Northeast, but increasing risk will draw fresh attention from regulators to ensure recent and future growth is sound, the Office of the Comptroller of the Currency said recently. The OCC on Oct. 28 released a report detailing substantially improving conditions among OCC-regulated banks in its Northeastern District, defined as Connecticut, Delaware, the District of Columbia, eastern Kentucky, Maine, Maryland,
Abrigo
OCTOBER 9, 2014
'This article is the second in a two-part series on top concerns and growth strategies of community banks. Part I focused on bankers’ greatest concerns, while this section will focus on growth strategies. Everyone in the banking industry seems to be asking the same question these days: How can we facilitate growth? We can find answers in the August Bank Director’s 2014 Growth Strategy Survey , which asked executives from banks of all sizes across the United States about their growth
Abrigo
OCTOBER 2, 2014
'Following the recent financial crisis, the Basel Committee of Banking Supervision (BCBS) set out to “strengthen global capital and liquidity rules with the goal of promoting a more resilient banking sector.” With the release of Basel III, the Committee is building on Basel II’s three pillars and strengthening them. The three pillars include maintaining minimum capital requirements, a supervisory review process and market discipline.
Abrigo
OCTOBER 20, 2014
'Among the various characteristics that make up a company’s culture, one of the most important aspects often goes overlooked. Ancin Cooley , Principal of Synergy Bank Consulting, Inc. states that a mix of value-based cultures is pivotal in the effective management of a bank. A sound project management culture, Cooley argues, should be in the forefront of financial professionals’ minds.
Abrigo
OCTOBER 18, 2014
'Nearly every firm has business clients who are interested in more services from their accountant. Almost two-thirds of clients are unaware of all services their accounting firm has to offer. Cross-selling value-added services will not only help you retain your current clients but also grow your business’s revenue. In a recent case study , ProfitCents customer Focus CPA Group Inc. shared how they were able to ensure their clients viewed them as trusted advisors by effectively cross-selling
Abrigo
OCTOBER 7, 2014
'In a recent survey conducted in partnership by the Federal Reserve and the Conference of State Bank Supervisors ( CSBS ), over 1,000 community bankers weighed in on a range of hot button issues facing their organizations in 2014. Among the topics in discussion was the continued upward trend in merger and acquisition (M&A) activity and further consolidation of the bank market as a whole.
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
DECEMBER 16, 2014
'Lending standards continue to relax, according to data from the OCC’s 2014 Survey of Credit Underwriting Practices. This type of easing is similar to that experienced between 2004 and 2006, the time period leading up to the financial crisis, which many attribute to inadequate lending standards. Source: OCC 2014 Survey of Credit Underwriting Practices, December 2014.
Abrigo
DECEMBER 14, 2014
'Many would point to imprudent lending standards as a leading cause of the financial crisis of 2008, and in turn, financial institution regulators have since bolstered lending standards and capital thresholds as a preventive measure against a similar crisis. But recent news from Fannie Mae and Freddie Mac might suggest that the market is inching closer towards pre-recession lending practices.
Abrigo
DECEMBER 8, 2014
'The allowance for loan and lease losses is a pivotal part of a financial institution’s well-being. While regulatory guidance outlines the framework for the methodology, institutions can be at a loss for resources regarding more granular details of the ALLL calculation: • What steps can I take to reduce regulatory scrutiny? • How will impending regulatory changes impact my methodology, and how should I prepare?
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.
Abrigo
NOVEMBER 17, 2014
'In the 2014 J.D. Power Small Business Banking Satisfaction Study , small business owners indicated that a key component of a positive banking experience is the relationship they have with their account manager. The survey was released on October 28, 2014, and polled business owners from across the country. The survey found that, for instances where the account manager is not viewed as a trusted advisor or there is no, one manager of the account, there is a a significant decrease in satisfaction
Abrigo
OCTOBER 14, 2014
'When it comes to the risk management process, there is no one-size-fits-all approach. Financial institutions have a wide variety of approaches, as calculations and analyses differ between lenders. “It is as much an art as a science,” says Tim McPeak, risk management consultant at Sageworks. “Everyone’s going to have their own ways, and from bank to bank they will have different underwriting guidelines and standards.
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
SEPTEMBER 25, 2014
'Steve Jobs. Sergey Brin. Mark Zuckerberg. Each of these individuals, and their companies, are celebrated as changing the face of the technology. They all followed a similar path to success: excelling at one thing and developing that specialty. Jobs knew gadgets, which led to the Mac, the iPod, and the iPad. Brin specialized in search and the result was Google.
Abrigo
DECEMBER 3, 2014
'The “most wonderful time of the year” is officially in hyper drive. The hand-print turkeys are now a distant memory and you’ve fought your way out of the Thanksgiving food coma. Before you know it, you’ll be ringing in 2015 and busy season will have you funneling coffee instead of sipping on egg nog. But not before the annual office holiday party.
Abrigo
DECEMBER 31, 2014
'When your house is on fire, it’s not a good time to pause and review your fire-prevention strategy. At that point, you’re concerned mostly with smothering the flames or getting out alive. In the same way, once busy season begins, you’ll have precious little time to consider whether your accounting firm has made the right moves to build client relationships and grow in 2015.
Abrigo
DECEMBER 18, 2014
'At the height of tax season one problem accountants often face is maximizing their client meetings. When an entire firm – and entire industry, for that matter – is racing against the clock and aims to pack as much into each day as possible, it is natural for even the most organized of us to feel a bit disorganized. Aside from the checklists and worksheets that help clients prepare for tax season, now is a great time to double check your own to ensure you are asking the right questio
Abrigo
DECEMBER 17, 2014
'Demand for valuation services is growing, according to a recent AICPA survey , with increased opportunities expected in shareholder/partner disputes, contractual disputes, family law, and gift and estate taxes, among other areas. Indeed, most valuation professionals in the survey said they expect between 10 percent and 50 percent growth in their practice over the next two to five years.
Abrigo
DECEMBER 11, 2014
'In September, the Office of the Comptroller of the Currency (OCC) published final guidelines designed to “strengthen the governance and risk management practices of large financial institutions.” The guidelines apply to institutions with more than $50 billion in assets, and the effective date of the guidance varies by asset size. For institutions over $750 billion, this guidance is effective immediately upon the Nov. 10, 2014 effective date.
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