Virtual/Part-time CFO/Controller…Using Corporate Dollars Wisely
During these uncertain economic times you will be well-poised to watch every dollar you spend as well as a great time to consider the hiring of a part-time Chief Financial Officer or Controller for your business. By doing so you gain the advantage of not having a full-time CPA on your staff whose salary would be the equivalent of your Vice-Presidents while also allowing you to pay only for the time that you use. A seasoned and experienced CPA whose background includes financial experience in CPA firms as well as working in private industry sector will avail you to procure talent, which is most suited to your needs. As your business grows exponentially, you will want to bring in a consultant who can both serve with the financial and regulatory planning issues but also those involving management advisory services. A Virtual/CFO can help with:
-Development of Internal Control Procedures. Having appropriate checks and balances, segregation of assets, and asset protection is a critical component of a sound business model.
-Business Plan Development . Business Plans will help serve as a road map to take your business to the next level, while also serving as a guide to critical business, hiring, and operational decisions.
-Cash Flow Forecasting. Being prepared might be a good motto for a Boy Scout but it is also your best defense to ensure that one day you do not open the cash drawer to find out you are woefully short of operational needs
-Management Advisory. Negotiating a contract, buy-sell agreements, mergers & acquisitions, adding a partner, and shareholder agreements are all examples of critical agreements that will dramatically affect your business future viability and profitability.
-Tax Compliance and Reporting. Staying on the good side of the tax man is a critical path component to ensure your business is not unduly surprised by unexpected reporting and payment issues.
As your business continues to emerge and grow you will be best served by hiring a full-time Chief Financial Officer but a part-time Virtual consultant will serve well for those companies in the one to fifty million sales range seeking competent insightful advice.
Sphere: Related ContentRelated posts:
- How to Use an Atlanta CPA as a Part-Time/Virtual CFO/Controller for Your Business
- Virtual/Part-Time Chief Financial Officer for Your Rapidly Growing Metro Atlanta Business
- Small Business Development Center 30th Anniversary…Helping U.S. Small Business
- Atlanta CPA Serving as a Part-Time/Virtual CFO for Atlanta Business Owners for Twenty Years
- What Can a Part-time Virtual Chief Financial Officer (CFO) Do For You
