Monthly Archives: December 2016

Top-5 Challenges that will affect Grocery operators in 2017

The Supermarkets and  Grocery Stores industrymakes up the largest food retail channel in the US. As per the latest figures released by National Grocers Association, nationally there are 21,000 privately held or family–owned grocery stores in the US that generates $131 billion in annual sales. These grocery stores account for total 25% of the Supermarket industry sales in the US.

As per the “2016 Independent Grocers Financial Survey” conducted by the National Grocers Association, the sales of the independent grocers grew by 2.1 percent in 2015 which is up from 1.5 percent in 2014. In order to ensure that the growth story remains intact, the grocers need to ensure implementation of robust financial management practices for their business that includes accurate processing of their financial information, efficient tracking of inventory and POS data as well as adherence to underlying regulatory information on a year-on-year basis. Continue reading Top-5 Challenges that will affect Grocery operators in 2017

Two ways Non profits can reduce their Overhead Costs

Nonprofit organizations are subject to a unique accounting and reporting requirement that requires the reporting of expenses according to the purpose for which they are incurred. This process, referred to as functional expense allocation, is one of the more challenging areas of preparing a nonprofit organization’s financial statements.

As per the IRS Form 990, that applies Generally Accepted Accounting Principles (GAAP), nonprofits are required to segregate their entire costs into three expense categories: Continue reading Two ways Non profits can reduce their Overhead Costs