Accounting for Operations Management Used by Top Performing MSPs Webinar
Presented By: Morris Stemp, CPA, MBA, CPHIMS, Partner and CFO at StratX IT Solutions
Date: July 18th, 2018
Time: 1:00pm ET / 12:00pm CT / 11:00am MT / 10:00am PT
Accounting is not just for taxes. Learn how to use the financial data in your accounting system to manage and value your business.
Are you confused and confounded by accounting requirements? Do you feel that your income statement does not make sense from month to month? Does it seem that your PSA and QuickBooks are not talking the same financial language? If you want to use meaningful financial intelligence about your MSP to start running your MSP, or if you’re looking to sell your MSP, your books need to be in shape and the numbers have to make sense.
Most MSP owners do not have a degree in accounting and may not know how to achieve this goal. During this webinar, Morris Stemp, former CFO of a NYC based 50 person MSP, will talk about the basic accounting principles he follows in managing the accounting activities at an MSP. Morris is a former CPA and an MBA and specializes in consulting with clients on the evaluation, selection, and implementation of accounting systems.
What will be covered:
- Why is having a “good” set of books important?
- List attributes of “good” as basis for discussion of next topics.
- Overview of the structure of chart of accounts.
- Overview of accounting equation.
- Cash vs accrual basis accounting.
- Proper transaction recording.
- Income statement analysis: One or two important metrics to know.
- Client ranking spreadsheet.