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Article: Cutting costs in tough times
- Article from:
- NJBIZ
- Article date:
- August 3, 2009
- Author:
CopyrightCopyright Journal Publications Inc. Aug 3, 2009. Provided by ProQuest LLC. (Hide copyright information)
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Companies work with advisers to consolidate, restructure balance sheets
A WEAK ECONOMY is whipsawing businesses, driving entrepreneurs and their advisers to scrutinize their operations for cost savings, according to experts. Now more than ever, they add, company owners and their CPAs should sit down and review their activities from top to bottom.
"A recession spurs businesses to look even more closely at operating in a lean manner," said BiU M cNamara, a shareholder in the Toms River office of CPA firm Cowan, Gunteski & Co. P.A. "We're seeing small- and medium-sized business owners paying more attention to invoicing and other cash- flow issues."
The profits that often accompany a strong ...