Fri Apr 29, 2022 | | CFO Services

8 Common Responsibilities You Can Expect Out Of Your CFO


cfo

What’s the CFO’s (Chief Financial Officer) role in any organization? While it might generally lean towards the financial side of things, their exact role can differ depending on various factors. These factors can spawn from various things, such as the expectations of the board of directors or even from the CEO, or they can also lie in the business’ goals. That said, if you’re looking to understand what you can expect out of your CFO as a small or medium-sized business, here are the general and common responsibilities to consider: 1. Money Management A good CFO is able to monitor the company’s financial health constantly. They are the ones that watch out for any signs that the business is heading down the wrong path, and they are the ones that keep an eye on profitability, cash flow, and debt limits, making sure that the organization doesn’t reach its threshold. 2. Managing Risk A good CFO knows how to manage risks to the business in several ways. They can make sure that the company’s assets are properly invested, and they can also make sure that the company’s financial obligations are always in check. They also make sure that the company is adequately covered by insurance, especially when it comes to employee injuries and potential lawsuits. 3. Budgeting the Income The CFO will also be responsible for budgeting the incoming income in order to make sure that it’s enough to cover the following financial year’s expenses. It’s their responsibility to balance the […]

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Mon Apr 18, 2022 | | CFO Services

Why Hire a CFO for Your Business?


cfo

A lot of organizations choose to implement a chief financial officer to aid in crucial financial decision-making, cash flow management, and strategic planning. The CFO has shifted from being strictly a cash flow manager to a higher level of accountability for how that cash is allocated. Basically, the role of a CFO has evolved quite a lot and is even seen as a necessary function in every company today, even small businesses. Let’s look at what a CFO does in a nutshell and why they’re important to any organization.  

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Mon Feb 21, 2022 | | CFO Services, Law Firm Accounting

Six Reasons Why CFOs Matter for Law Firm Accounting Services


Law Firm Accounting Services

Finding the right accounting services for your law firm is critical in today’s legal arena. Law firms are still dealing with the fallout from COVID-19 and as a result, financial management is a challenge. Many lawyers are finding they have less and less time to spend on bookkeeping tasks, even though a law office is a business and must make a profit to survive.

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Wed Dec 1, 2021 | | CFO Services, Financial Controller Services

CFO vs Controller: What’s the Difference?


cfo vs controller

Growing businesses may need more than just a bookkeeper or a team of entry level accountants that process the day to day transactions . For companies that are looking to reach financial milestones, or to take the business to the next level, it may be time to consider hiring a chief financial officer (CFO) or a controller.

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Fri Nov 12, 2021 | | Accounting, Business, CFO Services

What Is a Fractional CFO?


fractional cfo

If your company needs top-level financial skills, try hiring a fractional CFO. This expert can increase the financial health of your small business or growing business. They also can save you money because you will not have to pay them a full-time salary, bonuses, and benefits.

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Wed Jul 28, 2021 | | Business, CFO Services

How Big Does My Company Need to Be to Contract CFO Services?


contract cfo services

Accounting is one of the most important aspects of running a business. For many businesses, working with a part-time bookkeeper is enough to stay on top of their financial situation, gather insights from financial reports, and make changes to optimize profits.

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Thu Jul 8, 2021 | | Accounting, Business, CFO Services

Interim CFO Services: Proactive Business Choices


interim cfo services

A Chief Financial Officer (CFO) plays a pivotal role at companies of all sizes. From blue-chip organizations to start-ups, CFOs regulate cash flow, financial planning, and performance. This chief role combines strategy with daily management. A CFO usually works as the top controller, creating financial systems that can impact an organization’s future.

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Wed Apr 21, 2021 | | Banking Relationships, Cannabis, CFO Services

Guide to Securing Cannabis Business Funding


Cannabis Business Funding

If you are looking to open or expand a cannabis-related business, you may need outside funding to achieve your goals. Some experts estimate that on average dispensary owners need anywhere from $150,000 to $2 million to start their businesses due to hefty licensing fees and rigid capital requirements.

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Wed Apr 21, 2021 | | Banking Relationships, Cannabis, CFO Services

What You Need to Know About Cannabis Banking


cannabis banking

If you own a cannabis or hemp-related business or are looking to start one soon, you should learn about the ins and outs of cannabis banking. Because marijuana use and distribution are illegal at the federal level, cannabis businesses often have trouble partnering with banks and other financial institutions. Currently, only a little over 700 out of the 12,000+ banks in the U.S. serve marijuana businesses, and the ones that do tend to have strict approval processes and hefty fees. Read on to learn everything you need to know about banking in the cannabis industry.

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Mon Mar 15, 2021 | | Business, CFO Services, PPP

Take Advantage Of COVID Relief Options For Your Business


covid relief options

The COVID-19 pandemic forced many organizations to close quickly and lose revenue for an extended period of time, putting their ability to stay in business at risk. Many businesses did not have enough cash reserves to sustain the shutdown and unfortunately went out of business. Currently, we are helping businesses during these challenging times with two government lending programs, the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) as COVID relief options. 

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