Category: Blog

Chart of Effective Federal Funds Rate compared to Bank Prime Loan Rate

The Federal Fund Rate is the interest rate that banks and credit unions borrow money from the Federal Reserve.  (The blue line on the chart.) The Prime Rate is the interest rate that banks and credit unions lend money to their best customers.  The Prime Rate is generally 3 percentage points above the Federal Fund…
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Budgeting: Is it Worth the Time and Effort? Do You Need a Map for a Road Trip?

Budgeting:  Is it worth the time and effort?  Simply stated – businesses should be budgeting for annual business plans, special projects, capital equipment purchases, new product development and more. Businesses that fail to budget have no defined plan to project growth, manage and judge the performance of the business.  Lack of any kind of budgeting…
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Budget – Even If It’s on the Back of a Napkin

by Daniel R. Siburg, CPA, CVA A budget on the back of a napkin is better than no budget at all.  Even the simplest of budgets will make management think about the coming year’s future direction and performance goals for the business. Budgeting Helps the Business Look Forward to the Coming Year Budgeting is important…
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