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.
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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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
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.
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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.
Abrigo
DECEMBER 2, 2014
'To provide a report card on industry status and performance, the FDIC publishes a Quarterly Banking Profile. Results from the third quarter were just released, and while overall results were positive, community banks in particular excelled. They performed better than a year ago and also outperformed the industry as a whole. In short, they had stronger loan growth and higher net interest margins compared to the entire industry.
Abrigo
DECEMBER 24, 2014
'The holiday season and the close of a year tend to bring out a more pensive person in many of us. The last few weeks on the calendar become a time to think about where you’ve been and where you’re going. Professionally, this is a valuable time to evaluate the strategies that were less than successful for you and your accounting practice (probably even more important than looking at those that were successful).
Abrigo
DECEMBER 15, 2014
'Consider your worst customer service experience. Perhaps it began by waiting in a needlessly long line, leaving you aggravated before you reach the front. Then a seemingly simple request to make an exchange devolves into a customer service representative’s dramatic change in demeanor because they, too, have just had enough of this never-ending line.
Abrigo
DECEMBER 10, 2014
'If you intended to start a new health regimen after the first of the year, you would start planning for the change, right? Maybe you’d research gym memberships or look into the cost of joining a programmed diet. Perhaps you’d start reading motivational articles to psych yourself up for the new commitment. At a minimum, you’d stock your pantry with healthy food choices or begin making a list for the grocery store.
Abrigo
DECEMBER 26, 2014
'At best, 2014 has been an uneven year for home buyers. As reported earlier this week, existing home sales hit a six-month low , after two consistent months of growth. Although the November numbers were disappointing, sales are still up 2.1 percent from one year ago. The trouble for many hopeful home buyers has been access to affordable credit. For many Americans that experienced lay-offs or other unexpected financial situations within the last several years, and who may still be finding solid f
Abrigo
DECEMBER 19, 2014
'In calculating the ALLL, often one of most cumbersome components of the process proves to be the FAS 114 (ASC 310-10-35) impairment analysis. Instead of being grouped into homogenous pools like their FAS 5 (ASC 450-20) counterparts, these loans are segmented out as having evidence of impairment and then calculated individually to determine expected loss.
Abrigo
DECEMBER 1, 2014
'Credit unions have seen an unprecedented uptick in business-related loans in recent years, according to the Credit Union National Association’s (CUNA) U.S. Credit Union Profile. From June 2007 to December 2012, MBL volume increased 66 percent, growing from $26.04 billion to $43.16 billion. As many credit unions are just beginning to develop or expand member business lending (MBL) programs, it is important develop or tighten a sound MBL strategy to ensure long-term success in managing risk
Abrigo
DECEMBER 23, 2014
'Now that 2014 has come and (almost) gone, it’s appropriate to take a step back and review the year’s trends and hot topics. Banks and credit unions continued loan growth after the lows of the economic downtown, as recently highlighted by the FDIC and OCC. The merger and acquisition market continued its upward trend, and the number of failed institutions decreased.
Abrigo
DECEMBER 20, 2014
'It’s like the buzzword that doesn’t go away: stress testing may have seemed like an unnecessary step for many institutions in the past, a buzzword that applied only to the big banks. But with the support of the regulatory agencies, the buzzword is becoming more of a minimum standard. Given the task is often assigned to the Chief Credit Officer or other leaders within the credit department, developing a stress testing methodology may come at the risk of losing steam on other areas, e
Abrigo
DECEMBER 9, 2014
'Community banks are expanding their loan portfolios to include more small business loans, according to the most recent Community Bank Performance report by the FDIC. Loans across categories increased, with commercial and industrial loans growing at the fastest rate, roughly 5.3 percent over the 3rd quarter of 2013. These expansions can come with growing pains, including identifying new customers to whom the bank can make loans, creating more rigorous and objective credit analysis policies and t
Abrigo
DECEMBER 5, 2014
'Whether your accounting firm is small, medium or large, one of the biggest issues you’re facing is attracting and retaining clients. Survey after survey, including a recent one by Accounting Today , finds this to be among the top issues keeping accountants awake at night. But most accountants know that it’s not just the number of clients you attract or retain that’s important to the practice; it’s also what kind of clients they are.
Abrigo
DECEMBER 29, 2014
'The benefits of segmentation within the Allowance for Loan and Lease Loss calculation are many. Institutions can gain more insight into sub-segmented performance, conduct more sophisticated loss methodologies such as migration analysis and can make better-informed lending decisions over time. However, as the old adage goes, there certainly can be “too much of a good thing,” and a tipping point exists in which institutions run the risk of over-segmentation.
Abrigo
DECEMBER 27, 2014
'An accountant''s workload is much more than just tax preparation and number crunching. According to a 2014 IBISWorld report, financially-cognizant companies are increasingly turning to their accounting firms for advice on how to reduce inefficiencies in daily operations and eliminate unnecessary costs. Because accountants are among the most trusted business professionals, this puts them in a positive light for offering additional advisory services to clients.
Abrigo
DECEMBER 8, 2014
'After developing an MBL strategy, the next step is to define lending policies to ensure the success of the strategy. This will help to satisfy regulatory requirements and alleviate unnecessary pressure on employees by reducing subjectivity in the loan decisioning process. When developing institution-specific policies, be sure to pay careful attention to the following policy areas: • Cash flow analysis.
GoCardless
DECEMBER 16, 2014
Online payments systems can be tough to understand. In this article, we demystify payments and recommend a range of alternative systems for those specific non-Direct Debit use cases.
GoCardless
DECEMBER 24, 2014
This guide walks you through what a Bacs approved bureau is and the benefits and reasons for using one.
GoCardless
DECEMBER 24, 2014
If you want to accept payments online, you have two main options: Credit (or Debit) Card and Direct Debit. To help you get to grips with your online payment options we've run through the main choices at a high level here.
GoCardless
DECEMBER 10, 2014
There are three main ways you can switch your customers over to GoCardless, which option is right for you will depend on a few things including whether you were already collecting Direct Debit payments and which GoCardless product you’re using.
GoCardless
DECEMBER 10, 2014
Direct debit is a great way for charities to collect payments and the three main providers are GoCardless, Valldata & Rapidata.
GoCardless
DECEMBER 9, 2014
Bacstel-IP, Bacs approved software and the Bacs payment services website.
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 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 25, 2014
'Sageworks has worked all year to bring accountants information that helps you serve clients and run your practice better, and many of our blog posts have been especially popular. Below is a list of the five most popular posts for accountants from the Sageworks blog this year. If you’re planning to take a few days off around the holidays, or if you’re among the few people left in the office and find some time to catch up on professional development reading, these posts each take only
Abrigo
DECEMBER 30, 2014
'Resolutions abound, a New Year is a new opportunity for a fresh start, no matter your goals. To set yourself up for success professionally, you must be willing to understand the importance of and deliver on new trends, needs and expectations. It is no different for accounting firms. In 2015, accountants should be focusing on technology, consulting services and marketing strategies for their firm, among other trends outlined here.
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