The Strauss Blog

How to Effectively Manage Accounts Receivable

[bb]Cash flow is one of the most important aspects of managing an association. One key element of proper cash flow management is appropriate management of accounts receivable.[/bb] Studies have shown that many businesses struggle to collect payments from clients, especially small businesses. It can be even trickier for associations where being a member is a […]

Six Bad Habits of Association Accounting and How to Avoid Them

Are you worried some of your accounting methods are causing more problems than they prevent? Or perhaps you don’t know how some of your habits are affecting your association or your external auditors. We all know quick fixes aren’t the right answer but unfortunately these types of things happen a lot in accounting because you […]

The Basics of Reading Association Financial Statements

Knowing the basics of reading the numbers on a financial statement is essential to understanding the financial health of an association. Many people admit that accounting is not their area of expertise and therefore leave it to others (or the auditors) to explain what they are seeing on the financial statements. With a few simple […]

The Difference Between an Audit and a Review Engagement

Audits and Review Engagements are the typical year-end services offered by professional accountants to association and not-for-profit clients. For an association, the by-laws may dictate which type of service is required. If they do not, the type of service you require will depend on the degree of assurance you need to ensure that the financial […]