Everything Angela Rice said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Rice: Collecting a paycheck without doing the work constitutes fraud
“To me, it's fraudulent if you're supposed to be working and you're not. And I think that's why it's really important to have technology and ways to track the performance of your employee. If someone's supposed to be Working in a call center calling 50 differen…”
Rice: Over-Outsourcing Accounting Stops Founders From Understanding Financial Data
“And I think a lot of accounting can be outsourced. But I think it's also very important for a business owner to understand you don't want to over outsource because it's important that you have somewhat of a learning curve so that you understand your financial …”
Rice: Startups Should Avoid Early CFO Titles and Outsource Executive-Level Finance
“The CFO title is automatically going to have a premium attached to it. So I would really look at resumes where you can kind of get a good sense of someone's financial background, where they have financial analysts for a large company, and do they really know y…”
Rice: Passive investors should require independent audits to verify company financials
“If I was an investor in a business and I wasn't actively part of the management, I probably would want an audit. You'd want to know that somebody is reviewing the financials for accuracy and reliability.”
Rice: Outperforming competitors on margin by 5–10% compounds into vastly higher valuation
“And slowly over five and 10 years, if your profit margin is five, 10% greater than your competition, eventually your valuation is going to be substantially greater than your competition.”
Rice: Failing to Segregate Accounting Duties Leaves Companies Vulnerable to Fraud
“If one person has complete control of all of your financial data, as well as your bank statements, and they are the ones that receives payments and makes disbursements to pay for things. That is really a great area. And I'd advise you not to have one person do…”
Rice: Key man dependency causes one of the biggest small-business valuation discounts
“One of the biggest discounts that is applied to evaluation in a small business is the key man discount, the value of the owner. If the value of the owner is taken out of the business, Extracted from the business that's going to reduce the value.”
Rice: Creditors negotiate with distressed debtors because liquidation yields zero recovery
“So a lot of times you'll see creditors who will negotiate with the debtor in order to try to reconcile and create an opportunity for that company to stay in business because if someone's owed millions of dollars, That business going into bankruptcy and shuttin…”
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