“We’re open for business!” Hold on just a minute. Before you go turning the lights back on and warming up the copier, have you thought about what you’ll need to do to get in a state to reopen? Drew Niehaus joins us in this "things you need to consider before reopening" video episode to talk about the five #accounting and #reporting considerations before you reopen. 1. Forecasts Everybody had a #forecast #model that was blown to bits in March. You’re going to have to fundamentally alter the way that you forecast moving forward. 2. Divestitures It’s likely going to mean saying goodbye to some underperforming assets. Does your company have a strong de-integration plan when it comes to selling off assets that are no longer good for you? 3. Real Estate If #COVID-19 has taught us anything, it’s that way more work can be done from home than we first thought. Are you sure you need ALL of that square footage? 4. Inventory The supply chain is shattered. Remember the great toilet paper shortage of March? You’re likely going to have to start involving multiple suppliers, which may increase your costs. 5. One-Time Costs Severance to contract cancellations to enhanced cleaning. You’re going to encounter a lot more “off the cuff” expenses than you might imagine. So are you ready to open? Learn more.
“The only constant is change.” A famous Greek philosopher spoke those words hundreds of years ago, and yet ...
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“The only constant is change.” A famous Greek philosopher spoke those words hundreds of years ago, and yet they sound like they could be invented today.