WELCOME ! Client & Alumni CPE Forum December 10, 2008 Opening Remarks Howard Cohen Managing Partner, Amper, Politziner & Mattia Speakers: Tom Mulhare CPA, Partner, Amper - Practical Advice for Navigating Tough Economic Times Michael Hadjiloucas CPA, Partner Lori McMahon CPA, Senior Manager - Incentives and Planning to Consider in Tough Economic Times

Practical Advice for Managing Your Business in These Economic Times Tom Mulhare CPA, Partner December 10,

Don’t let the “GRINCH” steal your holiday for 2009 and 2010! 3

…but we do not have ALL the answers either ! 4

Cash Is KING …long live the king!! Know where your cash is 24 hours a day Know what “safe” accounts mean Monitor your bank’s financial health Where to invest excess cash Safety trumps return 5

Getting Your Cash – Accounts Receivable Be relentless to increasing cash collections Monitor credit Billing strategies/Payment terms Consider adding an interest charge Deposit availability Asset based financing 6

Inventory – How Low Can You Go? What are the “right” levels of inventory? What’s hot? What’s not? Monitor critical vendors/suppliers – Plan “B” ? Pricing – Changes in Overhead Lifo – keep it or lose it? Imports – price protection 7

Keeping Your Cash at Home! – Accounts Payable Take full advantage of payment terms-pay in 30 not 15 Use EFT to make payments the last day they are due If you have an issue - communicate Work with your key vendors keeping the relationship 8

Keeping Your Bank Relationships 9 Understand and monitor your bank debt Review all provision for compliance Renewal Dates Best Deal in bad times Explore alternative sources Lines of Credit Communicate

Keeping Control of Your Cash – Cash Flow Forecast 2009 Budgeted P&L 2009 Budgeted Cash Flow Statement Reflects your current reality Stress test now !! What you will do if… 10

Your Cost Controls Payroll Make decisions early Selling, General & Administrative What’s really necessary? Marketing in a downturn Capital Expenditures Time to minimize purchases? Sell unused equipment (inventory too) Deals to be had? 11

Other Considerations Insurance Coverage Review Strength of carriers Real Estate A chance to buy? Renegotiate leases Property tax appeal Leasing? 12

Growth Through Acquisitions Troubled competition Lower values Motivated “sellers”- bank and other investors 13

Managing Your People Upgrade? Retention Benefits Cash Fraud Pressure of the times Morale 14

THANK YOU ! Questions & Comments “The material contained in this presentation is for general information and should not be acted upon without prior professional consultation.” 15