Troubled companies can leave collateral damage in their wake. Don’t let your firm be one of the victims.
by Rick Telberg
The economy may, indeed, be at fault for many of the latest business failures. But blaming the economy won’t turn around a company in trouble; recognizing the problems and taking swift action could. That’s where CPAs can help.
With over 40,000 business bankruptcies in 2008 and 2009 and little improvement expected this year, the message of turnaround specialist Katie S. Goodman couldn’t come at a better time.
One of the key opportunities facing CPAs today, according to Goodman, is to “truly recognize that certain clients are in financial distress and will not make it through the economic cycle.”
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