Common Financial and Accounting Errors in Small Business
February 17, 2014
Hosted by Brendan Anderson and Jeffrey Kadlic
On today’s episode of The Second Stage the hosts are joined by Audit Director and Partner at McGladrey, Roger Prough. Roger will offer insight into common accounting errors he and his team uncover when auditing small business financials as well as suggestions for rectifying. A few of these common and easily correctable mistakes include: improper cutoff of revenue transactions and lack of segregation of duties. During today’s discussion you will hear how simple internal controls can prevent a much bigger issue such as fraud. Don’t miss this episode to learn more on how you can recognize and benefit from identifying these common financial errors in your business.
The Second Stage
Monday at 2 PM Pacific Time on VoiceAmerica Business Channel
The Second Stage serves as an entrepreneurial forum to exchange ideas and best practices amongst peers. While each business is unique, most companies face the same obstacles on their path to success. The topics and trends addressed within this community of like-minded individuals will include financials and reporting, valuation and value creation, succession planning, human resources, technology, insurance and benefits, as well as many others. The show will be delivered from the perspective of the hosts who view opportunities from both an entrepreneurial and institutional private investor perspective.
The Second Stage also shines a light on the significant impact that entrepreneurs and their growing companies have on creating a vibrant economic base. Tune in every Monday at 2 PM Pacific Time on the VoiceAmerica Business Channel.
Brendan Anderson and Jeffrey Kadlic
Brendan Anderson has spent the past 20 years as an investor and manager of businesses ranging from manufacturing to financial services. Fascinated by the capital gap within the small business growth sector, he rapidly came to the conclusion that providing best practices in addition to growth capital could consistently produce great results for the management, employees, communities, and investors. He is an active member and mentor within Entrepreneurs’ Organization, and is continuously entrenched in its culture of best practices.
Jeffrey Kadlic spent the first 10 years of his career making private investments in an institutional setting. Early success was achieved in large part to an entrepreneurial mindset within a corporate culture. While practicing as an institutional investor, working in and around dynamic small businesses, he recognized that growing small businesses needed more than just an influx of cash to scale operations. Leveraging corporate practices within an entrepreneurial setting, in addition to the capital, was the best way to achieve great performance.
Brendan and Jeffrey are both alumni of Crain’s Forty under 40 and E and Y Entrepreneur of the Year finalists.
Connected by their passion for growing small companies, in 2005, Anderson and Kadlic partnered to co-found Evolution Capital Partners, focused exclusively on advising and investing growth capital in Second Stage Companies. Evolution and its companies recognized on the Inc.500 5000.