What to Know About When and Why to Hire a CFOcustomonecfo
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 Financial Officer (CFO), however, manages the functions of the accounting services and manages the production of financial statements. In addition, the CFO also uses his or her expertise to analyze those statements to identify and report on key metrics for your business so that the business owner can make better decisions on internal operations and market strategy. The CFO is a great help in looking at strategy and managing daily cash flow so the business owner can work on other matters. The question is when do you need a CFO and can you afford one?