People who start small businesses do so with a variety of skills and abilities based on their education and experience. Business owners have a handle on the product or service their business is based on, but few know everything about how to run a business. Having adequate experience in all business areas from management and human resources to accounting... Read More
People start small businesses for a variety of reasons and with a variety of skill sets. All of them have a pretty good idea about what they want to do, but few know everything about how to do it. Providing a product or service involves running a business operation from an administrative standpoint. How many people opening a small... Read More
Are you are spending more of your scarce time as a business owner analyzing your revenue, profitability and cash flow? Trying to draw conclusions about the performance of your business in your market? Are you having trouble deciding on growth strategies? These could be signs that you could benefit from a Chief Financial Officer or CFO. A CFO utilizes... Read More
As an accounting firm you spend a great deal of time recording backward-looking data. With current automated systems you even spend time analyzing numbers that are calculated in software, such as Enterprise Resource Planning (ERP) systems. While the software is quick and removes a lot of accounting drudgery, the numbers still need to be scrutinized to ensure they were... Read More
If you are considering whether it is time for your small business to hire a full time Chief Financial Officer, the answer is probably no. A CFO has a lot of expertise and training and can bring a lot to any business, but they are also expensive and have to be used efficiently. If you aren’t big enough, with... Read More
CFO For Your Business Businesses small and large face the same challenges and most of the same requirements relative to bookkeeping, financial management, and reporting. Most of these duties can be handled by a bookkeeping staff for backward looking financials as to how your business performed. They can also handle, with the help of a CPA or accountant, the forward-looking... Read More
In operating a small business you are continually required to evaluate your financial status to gauge your performance against plan and plan for future operations. Most business owners realize the need for accurate financial statements and have bookkeeping staff or controllers/CPAs. But these roles are backward-looking positions that record data and produced financial statements for your purposes. A Chief... Read More
Why Hire a Chief Financial Officer? A Chief Financial Officer (CFO) can be very beneficial for a firm if you know what they are for and how to use them effectively. The CFO is the keeper of your finances but also has a key role in analyzing your way forward. They do this by providing insight based on your history... Read More
A CFO is More Than An Accountant Most firms treat their Chief Financial Officer (CFO) as an uber-accountant, tracking financials or acting as a controller instead of acting as what they should be – a strategic asset. Using your CFO wisely can help the company make sound strategic decisions based on their financial analysis acumen and management expertise. Rather than... Read More
A Letter From The IRS The letter none of us want to get has arrived in your mailbox – the IRS wants to audit your taxes! While this is not welcome news, there is no reason to panic. Often, there is nothing wrong with your taxes at all and the IRS has just picked you for a random audit based... Read More
