Why do people leave filing their tax returns to the last possible minute? There are a lot of reasons, but this might be the best one I’ve seen:
“I’ve got plenty of time as the last minute isn’t due for another 4 or 5 billion years.”
Seriously though, people love to procrastinate on financials – personal and professional – even when they know better. We come up with reasons to delay, putting off the pain as long as possible. But we’ve seen it firsthand: this kind of procrastination isn’t just a small business problem. It happens in S1M, $10M,| and even $100M+ organizations – and it can get messy
Books are outdated, miscategorized, half-done, or scattered across systems. And because there’s no immediate pressure, they stay that way, until there’s a wake-up call:
- Applying for a loan
- Preparing for an audit
- Selling the company
- Discovering fraud
Then the cost of waiting becomes painfully clear. That means more stress, more risk for the business and its people, lost opportunity cost, and of course – more money. We’ve seen companies spend 1,000+ hours and six figures cleaning up years of financials—just to close a deal.
The smart move? Fix it before you need to.
If your bookkeeping is on point, you can expect
• Better data and decision-making
- Fewer surprises
- Faster access to capital
- Confidence when banks, buyers, or auditors come calling
Best of all, you’ll have a system in place to reduce risk and increase efficiency, and who doesn’t love a smooth-running machine?
Where Imperial comes in:
Yes, we’re known as the clean-up specialists. We fix bad books – the kind that would make most CPAs run the other way. But we’d much rather get involved before it becomes an emergency.
We work closely with CPAs, and we’re independent, experienced, and more affordable than firms trying to do it all. When things get messy, we’re the ones to call.
What you can do now:
- Review your books now, before it’s urgent
- Act like an audit’s coming – you’ll thank yourself later
- Reach out to Imperial for a consultation
The last minute could be in 4 or 5 billion years. or it could be closer than you think.
All my best,
Alex
Why do people leave filing their tax returns to the last minute?
Original Article by Mark Sacc Jokes.
Strategies for retaining vital employee knowledge
Article on INTHEBLACK
Photo by Pixabay on Pexels
There are two types of organizational knowledge: explicit and tacit. Explicit knowledge is about processes and information – easy to document and teach. Tacit knowledge is insight and wisdom each person has learned over time and experience – and is much harder to record and disseminate.
The problem? Tacit knowledge is the first thing to disappear when someone leaves. It’s not just about knowing what to do – it’s knowing how and why something’s done a certain way. That lived experience is gold, and most companies don’t have a system to preserve it.
What can you do?
- Encourage peer-to-peer learning
- Break down internal knowledge into bite-sized content (think microlearning, short videos, quick docs)
- Set up internal mentoring or even a podcast-style format to share stories and lessons learned
The more you capture and share internally, the less vulnerable your business becomes when people move
Is This the Most Profitable Accounting Firm? w/ Jesse & Tom from FinOptimal
Article on Jetpack Workflow
Photo by Pixabay on Pexels
Profits Start with the Right Clients.
Finding your ideal client is one of the best ways to ensure long-term profitability. When you know your niche – and serve it with real expertise – you don’t just grow, you become the go-to name in that space.
It starts with looking closely at your pricing strategy, your value proposition, and how your services align with client needs. For example, you might set onboarding requirements around software, systems, or even budget levels to make sure the engagement is a fit from the beginning.
At Imperial, we’ve leaned into this approach by specializing in real-time, time-consuming, high-stakes cleanup work. We support CPA firms and their clients with audit prep, controller services, and complex financial cleanups – especially when the books are in bad shape and time is tight. It’s where we shine, and where we bring the most value.
While not every business needs a cleanup, those who do know they can come to us to get it fixed fast.
Perspectives from the Profession: Innovation in Motion: Navigating Business Challenges with Agility
Article on Inside Public Accounting
Photo by Pixabay on Pexels.
“Innovation, much like the continuous adjustments and real-time guidance provided by the pit crew, is no longer a luxury – it’s a necessity.”
Even in accounting, the ground is shifting. Private equity is buying into firms, and with that comes new pressure to perform, grow, and hit profit targets. Enter the Chief Growth Officer, a role now popping up at many firms as they become part of larger “platform” models designed to scale through acquisition.
But innovation doesn’t just mean new tech. It also means agility, adaptability, and continuous improvement. It’s a mindset shift—something that needs to happen at every level of a firm, not just at the top.
Leadership may steer the ship, but everyone on the team is part of the innovation process—especially those closest to client needs and operational friction points. The firms that will thrive are those that create a culture where everything can be improved, and growth becomes everyone’s responsibility.
Other articles we are reading:
Accounting Firms Hire Growth Leaders as Dealmaking Shakes Up Industry, from The Wall Street Journal.
Workers decry lost productivity from “busy work” and RTO, from CFO.com.
Big Four Diverge on Diversity as Culture War Hits Accounting, from Bloomberg Tax.
Cleanup and Catch-up
Imperial focuses on what we call “cleanup and catch-up” remediation using senior level, experience professionals who can quickly identify and remediate accounting issues to result in a more streamlined and accurate financial reporting process.
If you’re struggling with a difficult bookkeeping job or need extra firepower for inaccurate coding, reconciliations, or fixing old accounts, reach out.
We “cleanup and catch-up” and fine-tune tasks, resources, policies, and procedures so you can optimize your new client relationship from the outset or avoid known issues with current clients.
Visit our Cleanup and Catch-up page to learn more, or give us a call: 713-970-1163.
Alexander Brokhin
Founder & CEO, Imperial
alex@imperial-texas.com
“I am extremely proud of the talent behind the firm. I work with an incredible group of professionals and look forward to the continued growth and success of our company. I am humbled by the loyalty and wonderful relationships we have with our clients. Thank you for allowing us to support you.”
