Welcome to my blog.

-


 Welcome to my blog where I will share insights on various business topics and issues.

My name is Dan Elliot and I am a professional accountant who has also served as a military aircraft mechanic, a volunteer emergency services worker, and combined these experiences managing business entities. From these experiences I will address topics such as accounting and finance, contracting and procurement, human resource management, and business operations topics such as business continuity planning and quality assurance. 

Please follow my blog for important information for managing your forprofit and nonprofit business. You can also subscribe to my YouTube channel for further insights, and visit my website forwardlookingsolutions.ca to access the courses and books I have written.

My first post of this series will start with addressing key differences between being an employee versus an employer. Let’s get started.

Comments

Post a Comment

Popular posts from this blog

Nonprofit Financial Management - Means to an end inverted

-
Image
A significant difference between private and public sector is what I call ‘means to an end inverted’ where in private sector, the thing you do is the means to an end which is money; in the public sector, money is the means to an end which is the thing you do. That being said, serving the public is a business when you are being paid for a deliverable.   Schools, service organizations, sporting clubs, emergency services, and social welfare programs all have two things in common: they are there to provide citizens or members a service, and they are accountable to the funders. Whether the program is funded through federal, state/provincial or local taxes, or through donations, service fees, or membership dues, the concept is the same.   Why is the inversion of Means to an End important for those who operate in the nonprofit and public service sectors? It has to do with the philosophy of why you do what you do, and if you are doing it for the right reasons. Entrepreneurs are there to ma
Read more

Admin Allocation - 10% is a Myth

-
Image
  This week I am revisiting how Administrative Costs are allocated to the various programs of a nonprofit organization, and this is where the science versus art of accounting collide. Most program funders articulate a maximum percentage for administrative services typically at 10%. What can vary is what they consider as Administration versus Program Delivery. For example some will consider Information Technology as administrative costs where others consider it program delivery. Liability Insurance is another example. Some will allow 12% versus 10% but consider certain costs to be included in administration where others consider the same as program costs. Then there is accommodation costs: some are power users of office, service, and reception space, where others are not. This leads me to accounting school where we covered what are called Cost Drivers. Cost Drivers are factors which drive costs: for example square feet may drive janitorial cost where cubic feet may drive heating costs.
Read more

Serving the public is a business

-
Image
  The nonprofit and public service sectors are often misunderstood when it comes to their place in the business world and the transferability of the skills of those who work in the industry. When most people think of the term ‘business’ they associate it with buying, making, or doing something with the intention of selling it and turning a profit which they will either reinvest into another earning endeavor, or spend on either a life sustaining need, or a frivolous want. Businesses normally require an investor of sorts who uses either their own money or that of others, to purchase the necessary infrastructure and materials, and hope it ends well otherwise they are in trouble. However, there is another type of business which although does not include an investor who aims to earn a profit, still participates in making or doing something, the activities of which have financial implications. This is the nonprofit and public sector.  So, why do I consider nonprofit a ‘business?’ Simple: we
Read more