This report by the IMA® (Institute of Management Accountants) Small Business Committee shares professional insight to help small businesses respond to the coronavirus emergency.

With an emphasis on cash flows considerations, the report provides guidance on how small businesses can apply a three-step assess-build-communicate (ABC) recovery planning framework which includes:

A:  Assess the current situation, preferably with a team of experts

B:  Build a plan by brainstorming with your team of experts (and an alternative plan B if resources are available)

C:  Communicate calmly, clearly and continuously

While not all inclusive, this report can provide focus and resource information during this time of crisis.

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About the Authors

Heather Bain , CMA, CPA
Heather Bain, CMA, CPA, is the owner of Bain CPA Business Strategies, LLC, a small-business management advisory firm in Houston, Texas, and an adjunct accounting professor for University of Phoenix, Houston campus. She serves as chair of IMA’s Small Business Committee. Heather can be reached at hbain7000@yahoo.com.
Marcine Johnson , CPA
Marcine Johnson, CPA, is president of Accounting & Tax Advisory Services Inc. She’s a member of IMA’s Small Business Committee and chair emeritus of IMA’s Leadership Academy. She can be reached at marcine@atasinfo.com.
Evan Scarbrough , CPA
Evan Scarbrough, CPA, is an adjunct professor of accounting at Oakland Community College. He also is a member of IMA’s Ann Arbor Chapter. You can reach him at eascarbro@gmail.com.
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