FAQ's

What Do I Do as a CFO for Your Business?

As a CFO, I act as a strategic partner to business owners or CEOs, focusing on analyzing information and providing insights on business operations. Unlike an accountant who handles bookkeeping and taxes, my role involves strategies for revenue, profitability enhancement, and cash flow. I monitor daily financial operations and engage in various financial projects and tasks.

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Role of the Controller

The Controller's job is to ensure the integrity and accuracy of management reports and maintain control systems within the business.

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Difference Between a Controller and a Bookkeeper

If your 'Controller' primarily handles bookkeeping tasks like paying bills or running payroll without engaging in financial analysis, budgeting, or cash flow planning, they're more of a bookkeeper than a Controller.

 

Working with Existing Accountants

Even if you have a CPA for tax returns, my role is distinct. I become an integral part of your team, working from your office, understanding daily issues, and managing internal functions to provide essential management information.

 

Company Size for CFO Solutions

I typically work with companies, from startups to those with $5 to $50 million in annual sales. My services benefit businesses of any size that require strong internal financial resources.

 

Back Office Functions I Help With

I oversee traditional back-office functions such as customer billing, accounts receivable, accounts payable, bank reconciliations, employee benefits, internal office tasks, payroll support, and business insurance oversight.

 

My Objectives in Helping Businesses

My goals are twofold: (1) to provide you with more TIME to focus on critical business aspects, and (2) to provide INFORMATION to run your business proactively and efficiently.

 

Experience with Small Business Owners

I understand that business owners often struggle with back-office administration or lack crucial management information. I assist with internal management information related to cash flow, sales, profit margins, and costs, addressing financial and operational issues faced by small businesses.

 

In-House Financial Handling vs. Outsourcing

If your in-house team is not providing budgeting, cash flow planning, overhead analysis, action-oriented reporting, and cost control, my services can fill these gaps.

 

Why Use My CFO Solutions Services?

Businesses often can't afford or don't need full-time, high-level financial expertise. I offer the skills and resources necessary without the full-time cost, allowing you to focus on key areas like sales, marketing, and operations.

 

Computer Systems Compatibility

I work with your existing computer systems and recommend upgrades or new systems if needed.

 

Cost of Services

I bill hourly, allowing you to control costs. Services can range from a few hours a week to more substantial time commitments tailored to your needs and budget. This approach provides financial expertise at a fraction of the cost of a full-time CFO.

 

Essential Information for Effective Business Management

I recommend having access to:

• A business or operating plan.

• Detailed cash-flow plans and forecasts.

• Regular internal management reporting and key financial information.

• Financial analysis of critical business areas.

• Development and analysis of performance indicators and benchmarking.

• Detailed sales and operating costs budget.

• Overhead analysis and cost control initiatives.

• Simple, understandable reporting.