4 August

2015 Killer VARs from Accounting Today

Accounting Today recently released their list of the 2015 Killer VARs, businesses embracing the draw of the Cloud in today’s market. The article notes that the firms included in the Killer VARs list are “forging a true advisory partnership with their clients” to maintain their status ahead of the competition.

With solutions for companies from fast-growing start-ups to larger companies, Armanino was excited to be highlighted on the 2015 Killer VARs list. Tom Mescall, Armanino’s partner-in-charge of consulting, commented, ” “It’s not just about cloud software products but the cloud mission all companies are on. We understand from a business level what is driving transformational change. We’re helping companies rethink their whole IT strategy and providing the business case to them.”

Movement to the Cloud is a major factor impacting both VARs and their clients. As the article introductions points out, “these trends are no longer plans but client-mandated directives…” Armanino is proud to be a trendsetter in the Cloud solutions market by empowering our clients with solutions that fit their needs and enable them to achieve their own strategic goals.

Read the full article on Accounting Today’s 2015 Killer VARs. Learn more about Armanino’s Cloud solutions practices and approach to being trusted strategic advisors.

30 July

EVOLUTION Conference Early Bird Deadline TOMORROW!

EVOLUTION Conference Logo (2015)

In the past, Armanino has hosted user days and our Technology Forum focused on solution-specific updates. This year our team has revamped those events into the much-expanded, robust EVOLUTION conference. The conference is dedicated to showcasing superior professional development alongside technology tips, tricks, and updates.

Early bird discount pricing ends this week on July 31st, so be sure to register soon to secure the best option.

EVOLUTION’s educational tracks include Financial Planning & Analysis (FP&A), Enterprise Resource Planning (ERP), IPO Readiness, Cloud & Data Security, Technology Toolkit, and a Solution Showcase. Sessions will span high level views on the Realities of Migrating from On-Premise to the Cloud, insights into SEC Filing Hot Buttons & Gotchas: Tax, Audit, & Stock Options, and best practices in Rolling Forecasts – Evolve Beyond Annual Budgets. We have also maintained the solution-specific tips, tricks, and updates from past conferences as well.

The keynote address will be presented by Rand Morimoto, former White House cybersecurity advisor and best-selling author, discussing cybersecurity insights for businesses. Other featured speakers include Peter Bardwick, CFO of Nitro, Thomas Peff, Finance Director for Adaptive Insights, and numerous industry panelists.

Additionally, both California CE and business certifications will be available for conference attendees. Armanino has partnered with Saint Mary’s College of California School of Economics and Business Administration to deliver business certifications for the ERP, IPO Readiness, and FP&A tracks.

Learn more and register today to secure your spot at the EVOLUTION conference – early bird pricing ends this week on July 31st!

22 July

Top 5 Cybersecurity Threats to Your Business

Companies are currently investing more in measures to respond to inevitable cybersecurity attacks — monitoring, preventive policies, training and staffing – than in preventative infrastructure. According to a CEO at a financial technology company, “It’s a constant battle that won’t go away and we are now spending more to protect ourselves from when we are hacked than to try and keep from being hacked.” These are some of the top cybersecurity threats for business leaders.

Silicon Valley bank - How Tech Companies Prepare for Cyber Attacks

  1. Social Media Hacking: The hacking of Facebook, Twitter, Instagram and other media outlets poses a threat to company image. Just as recently as this year, the Burger King Twitter account was hacked, and the account logo was changed to a McDonald’s sign. BK wasn’t the only company hacked, NBC, Jeep, and others had their image tarnished by the work of hackers.
  2. Governmental Agency Data Breaches: Agencies within the government sector saw major data breaches in 2012 & 2013. The significance of the breached data is not limited to governmental information. Since government databases house information on both public and private company financial and tax information, the breaches of government databases affect all entities which share information the government. Other security issues related to governmental breaches include bank account numbers, usernames, passwords, and personal identities.
  3. Company Data Breaches: Perhaps the most damaging threat of a data breach is the fragile customer-company relationship built on trust. Yahoo, Verizon, Google, Comcast, and other well-known companies have had confidential information leaked due to data breaches. The largest breach from Yahoo! saw over 400,000 user names and passwords exposed.
  4. Malware: Malicious software can be used to phish information such as account passwords & usernames, company financials, or bank account data. The rise in mobile malware has now increased the likelihood of phones being hacked six-fold over the risk of your PC or network being hacked. Android users especially should download the latest patch to keep their information protected.
  5. Inter-Company Server Mishaps: Company website hacking has created a need for IT personnel specializing in the field of protective services. Companies are obligated to keep customer data safe and have a seamlessly running website.
16 July

2015 Cloud Accounting Benchmark Survey

Cloud Accounting Benchmark Survey - Cloud Accounting Institute Logo


Benchmark your Cloud accounting software adoption against your peers. Cloud Accounting Institute’s 2015 Cloud Accounting Benchmark Survey is now available and we invite finance professionals in any industry to take the survey!

Participants will receive a copy of the final Benchmark Report when it becomes available. You will learn about the latest cloud adoption trends, critical benefits to gain by migrating from on-premise to the Cloud, and integration solutions for Cloud solutions.

Join your fellow finance professionals in taking the latest Cloud Accounting Benchmark Survey to see where you stand in today’s marketplace.

See the results from the 2014 Cloud Accounting Benchmark Survey in this Cloud Accounting Best Practices Report.

22 June

Top Cloud Solutions Providers Featured in CIO Review

Providing Sound Insights that Lead to Positive Action - CIO Review (Dave Burlington)CIO Review recently released a special issue featuring the 20 Most Promising Corporate Finance Tech Solution Providers. Armanino is excited to have been included in the list this year. Noted with the tagline of “Providing Sound Insights that Lead to Positive Action,” the article discussed how Armanino’s Cloud Solutions team “helps finance teams at public and private companies minimize time spent on low-value accounting processes and increase time spent on strategic decision making.”

With robust integrations to help improve ROI and a rapid implementation approach, the Cloud Solutions team goes beyond just data integration to support the entire business process. In the article, CIO Review spoke with the Cloud Solutions practice leader and partner, Dave Burlington, and kCura’s Controller, Todd Bailey to gain some insider insights on implementing a cloud accounting solution with Armanino.

Find the complete insights on Armanino in CIO Review. Read the full Corporate Finance Tech Special issue of CIO Review and check out more cloud solutions and cloud integrations to benefit your business.


17 June

CA Nonprofit Streamlines Reporting with a Better ERP

A quickly growing nonprofit, the California Institute for Behavioral Health Solutions (CIBHS), needed an ERP system that could match their growth and continue to support the organization. After one unsuccessful ERP implementation, the CIBHS team was wary of implementing another ERP, but the organization’s controller, Tiffany Detinne, knew their current software just could not keep pace with their financial and accounting needs.

Detinne was interviewed in a recent case study and noted, “I have as many as 200 projects to track at any given time. I had to spend two to three days using Excel to create the reports I needed. I wanted my financial system to do the reporting for me rather than me having to manually do it.”

The case study, California Nonprofit Reduces Financial Reporting Effort from Days to Minutes, describes the path Detinne’s team took to determine implementing Intacct with Armanino was the right solution for them and how the solution is helping to streamline processes. Detinne is excited to be spending more time focused on analyzing the team’s data and much less time worrying about pulling reports and checking data accuracy.

Read the full case study, California Nonprofit Reduces Financial Reporting Effort from Days to Minutes, and learn more about the Intacct solution to see how it can streamline your team’s reporting needs.

2 June

Stock Award Modifications: What to Consider

Stock Award Modification (Photo)Managing a stock plan can be complicated and difficult. Once you’ve completed confirming all the grants, exercises and forfeitures, what else is there to check out? One of the most overlooked and ignored aspects stock based compensation maintenance is adjusting stock award modifications to existing awards. When do we consider a change to be a modification that impacts expense? I won’t get into the nuts and bolts of how modification accounting works but rather want to make you aware of what to watch for so you can begin to consider the accounting implications.

One of the most typical cases of award modification is the situation where a terminated employee is allowed accelerated vesting at termination. Most of us would immediately see an impact on amortization due to the acceleration of vesting, but what if this person is also granted an extended time period to exercise from the original agreed upon terms? We tend to overlook that this latter adjustment may also impact total fair value and amortization. It’s good to never assume that a change in terms won’t affect fair value. Whenever there is a change in terms, it’s best to further investigate the impact on expense.

Another often presented situation is one in which a modification is missed simply because new staff is unaware of the original terms of an award agreement. The amended terms are assumed to be the original terms. If no adjustments were made at the time of modification and amortization does not reflect the proper adjustments, expense will be off. These are scenarios that are often uncovered during data reconciliations where historical information is uncovered after the fact. This is a scenario that can be quite impactful if it affects a large enough pool of grants and can cause quite a bit of headache in trying to book expense in later periods.

Overall, make sure you generally understand what changes in terms are impactful to stock based compensation. Any time you see a change in terms, investigate. It may or may not impact your bottom line. Terms that change minor things like payment options, don’t necessarily mean there is a true modification but at least you checked.

A good rule of thumb is that changes which affect the standard terms of a fair value model like Black Scholes, will most likely impact expense. Similarly, terms that change significant portions of the agreement that result in some benefit to the awardee are often a good sign of modification. Diligence in this aspect of stock plan management will save you a lot of grief and keep you well informed in the future.

Learn more  about equity management and check out additional blogs for more best practices.

20 May

Valuing Start-Up Companies

Armanino’s Valuation and Forensic Services practice leaders are preparing for an upcoming webinar with AICPA. Jeff Stegner, Partner, and Dirk Van Dyke, Managing Partner, for the Valuation and Forensic Services team are excited to discuss valuing start-up companies from a Silicon Valley perspective.

The presentation will review the importance of a start-up company valuation, examine the common valuation method used for early stage companies, and establish best practices and considerations to avoid audit, IRS, and SEC concerns. With a combined 25 years of experience in valuing start-up and technology companies in Silicon Valley, Jeff and Dirk are well positioned to cover a range of valuations issues from the most basic to more complex issues for these types of companies. They will share details on valuing companies at varying stages of development as well as the methods used in valuation of such companies, including Discounted Future Cash-Flows, Market methods, and the Back-Solve approach. Additionally, the presentation covers allocating value to shareholders in complex capital structures that include “rounds” of preferred stock financing. Lastly, they will discuss the most common points noted by auditors when these valuations are reviewed in connection with the preparation of financial statements.

Register for the upcoming webinar to gain insights into valuing start-up companies and learn more about Armanino’s valuation team and services.