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Posts Tagged ‘assistance for non profits’

Power of Collaborative Diversity

Mr. John (Giancarlo) Meazzo, M.A GMA’s President  provides executive coaching in financial management, operations and business management.   He always shares business concepts and theories with his clients.

To achieve success, business owners need the expertise of other professionals in the various disciplines of business.   Example of this concept: American and British mathematicians were brought together to decode the secret codes of the German electro-mechanical device called Enigma.   These mathematicians were unable to decipher the codes.   Later the secret service brought professionals together from different walks of life such as professors, crossword enthusiasts, linguists, and chess champions to crack a secret coded Nazi device.  They decoded the Enigma codes three times!   This is an example of the power of collaborative diversity.

Power of Collaborative Diversity offers individuals an opportunity to create plans for change at the organizational level.  It allows for a deepened awareness of how your own thinking, experiences, and beliefs can either hinder or contribute to success.  The goal is to benefit from a collaborative, systematic approach to assessment, visioning, and planning for change.  Organizations that are committed to leveraging diversity will tap into the richness of multiple viewpoints, create supportive learning- centered work environments, and ultimately multiply their capacity to achieve their mission.

Stagnating, uncertain of the future?  No direction, no goals, feel like you slipped into a fog bank or the doldrums?    Success is made of phases.  Motivation is key for survival and success.  Motivation will drive (spark) your spirit, soul and heart to want to succeed.   You need to be your own catalyst.   You need to want to make something happen.  Nothing will happen unless you want it and make it happen.  Collaborative diversity is a tool used to plan success such as in Strategic planning (a key element to you’re your success).  It is just but a phase in the hierarchy of success planning.

“Power of Collaborative Diversity brings together in a three dimensional model the diversity of experiences that are present as a result of cultures, ethnicities, educational and professional background as well as the breadth and depth of the levels of intelligence, knowledge and experience.   The result is an interlaced collaborative exchange of thought and ideas that bring about solutions to problems and changes in the standard methods and thoughts”  quote of Giancarlo Meazzo, M.A.


 

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Non Profit with failed accounting department engages GMA

 

Case study 3


Non profit company with 250 employees services included adult day care, children school, residential care; workshops, work training, etc.    Engaged Mr. John (Giancarlo) Meazzo, M.A GMA’s President.   Controller resigned, accounting performed by staff of 5.  General ledger and financial statements were maintained in Excel without the use of accounting software.  An accountant responsible for the accounting was ill and accounting fell behind considerably.   Considering the complex Excel spreadsheets used as a general ledger, no one else could perform the GL accounting functions nor prepare financial statements.  Mr. Meazzo was engaged to review systems, develop a Gantt chart where he made a list of over 30 problem areas.  He installed new ACCPAC accounting software; developed departmental and company-wide financial statements, developed a budgeting system.  Presented financial statements using fund accounting; trained accounting personnel; developed accounting policy and procedures; installed internal controls, and key performance indicator reporting system;  trained department heads and executives on use, interpretation of financial statements budget preparation and variance reporting; presented financial statement to finance committee and board of directors.  Other changes, upgrades and financial management functions were performed.  At the end of the engagement, the CPA, president of the finance committee remarked: “I am flabbergasted on how you accomplish and complete your assignment at half of the cost and time”.  At GMA we take pride in providing the best, timely and professional service to satisfy all our client’s needs. 

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Non Profit months behind in financial statements engages Mr. Meazzo

 

Case study 2.

A non-profit company provider of services (under $2 million in yearly revenues) to the developmentally disabled children and adults lost their CFO.  Engaged Mr. John (Giancarlo) Meazzo, M.A GMA’s President.   Company services included adult day care, children school, residential care; work training, etc.   In six months from the CFO’s departure, the accounting department went into disarray.   The typical billing functions stopped.  All department heads took on the billing responsibility and opened a bank account for each of the departments.  The revenue began recording on a cash basis of accounting vs. accrual basis.  No journal entries and balance sheet schedules, i.e. prepaid and accrued expense accounts, were prepared nor maintained.  Internal controls where not adhered to.  Budget was never prepared (required by funding agencies). Financial statements were not prepared for over eight months.  Accounts payable did not have proper internal control procedures.  Board of directors upset and concerned of potential liability.   Mr. Meazzo as the CFO took control of the company finances and within 3 months centralized the accounting department;  installed a new accounting system and set up “fund accounting” following FASB 116 and 117 standards.  Developed division income statements and company wide; brought all transactions and accounting up to date.  Issued long awaited current financial statements using the newly installed accounting software.  Began a key performance indicator (KPI) system as well as a new budgeting system.   Instructed all departments to develop company wide policies and procedures if missing.   Instrumental in obtaining total government funding of residential homes.  Mr. Meazzo was applauded at the finance committee and board of director’s meetings. 

 

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CPA firm replaced by GMA

 

Case study 1. 

 

A grocery store with $24 million of yearly revenue engaged Mr. John (Giancarlo) Meazzo, M.A GMA’s President, for his services as a “turn around” interim CFO.  In this six months engagement Mr. Meazzo replaced a medium size CPA firm that had provided accounting services for over eight years.   The CPA firm failed in providing timely financial statements; the accounting practices did not follow standard accepted ones;  e.g. sub-ledgers nor reconciled to general ledger; significant balance sheet items not recorded, journal entries system lacked structure, etc.  In his customary initial client finance system review, he developed a list of over 25 problems with the accounting and financial systems.   Within 6 months the accounting was brought in-house; developed key policies and procedures; installed equipment inventory system; reconciled equity section that was not supported by sub-ledger (membership based company); set up all the schedules necessary to maintain account analysis, sub-ledger to ledger reconciliations; trained staff.   At the conclusion of the engagement, all systems including internal controls have been optimized and perfected, financial statements current; reduced CPA fees by 80%.     

 

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