Tue Apr 16, 2024 | Alan Lefkowitz | Financial Controller Services
In today’s competitive business landscape, companies constantly seek ways to expand and stay ahead of the curve. Unlocking growth potential requires a strategic approach, sound financial management, and effective decision-making. This is where the role of a financial controller comes into play. Financial controllers are critical in driving business growth, from overseeing financial operations to providing valuable insights. Understanding the Role of a Financial Controller The role of a financial controller is pivotal in ensuring a company’s financial health and stability. They oversee the organization’s accounting and finance functions, including budgeting, financial reporting, and risk management. Financial controllers play a crucial role in decision-making processes and driving business growth by providing strategic insights and guidance. Their expertise in financial analysis and compliance with regulations helps businesses navigate challenges and seize expansion opportunities. Overall, understanding the role of a financial controller is essential for optimizing financial performance and unlocking growth potential. Strategic Financial Planning Financial controllers are responsible for developing and implementing strategic financial plans that align with the company’s growth objectives. By analyzing financial data and market trends, they identify opportunities for expansion and devise strategies to capitalize on them. Budgeting and Forecasting Effective budgeting and forecasting are essential for business expansion. Financial controllers create budgets, set financial targets, and forecast future financial performance. This enables businesses to allocate resources efficiently and make informed decisions. Financial Reporting and Analysis Accurate financial reporting is crucial for monitoring performance and identifying areas for improvement. Financial controllers oversee the preparation of financial statements, […]
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Wed Dec 1, 2021 | Alan Lefkowitz | CFO Services, Financial Controller Services
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 looking to reach financial milestones or 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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Sat Dec 26, 2020 | Alan Lefkowitz | Bookkeeping Services, Business, Cash Management, Financial Controller Services
In the U.S., the survival rate for small businesses is bleak, with 20% going under in the first year and 50% failing after five years. These businesses shut down for various reasons, including a lack of customers for the product or service or having difficulty hiring the right people. But insufficient cash flow is frequently the reason for these closures.
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Sat Nov 28, 2020 | Alan Lefkowitz | Business, Financial Controller Services
Could your Chief Financial Officer (CFO) use a helping hand? For CFOs in growing companies, finding time to oversee strategic planning and manage the day-to-day financials can be a significant challenge. And as transactions increase in volume and complexity, handling the daily duties of accounting and finance while maximizing growth and performance can get overwhelming in a hurry, even for the best of us.
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Tue Nov 3, 2020 | Alan Lefkowitz | Business, Cash Management, Construction, Financial Controller Services
Construction companies typically juggle many complex jobs at once, often with a diverse mix of vendors and stakeholders. This makes managing your financials and tracking profits and costs an ongoing challenge. Fortunately, there is a tool that helps with managing and monitoring the progress of your jobs. “The WIP,” which is the work in process schedule (sometimes called the work in progress or the contracts in process schedule), helps contractors determine their profitability by job while tracking and forecasting their job costs.
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Tue Sep 22, 2020 | Alan Lefkowitz | Business, Cash Management, CFO Services, Financial Controller Services, Financial Reporting
No matter how brilliant an entrepreneur or business owner might be when running their business, without a good plan to maintain their company’s financial well-being, it will be difficult for their business to thrive. Regardless of industry or sector, we hear many of the same pain points that keep owners awake at night. Like people, the most successful businesses form habits that lead to their ultimate success. Here are the top five action steps successful companies implement to achieve financial success and prevent financial pitfalls.
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Wed Sep 16, 2020 | Alan Lefkowitz | Bookkeeping Services, CFO Services, Financial Controller Services, Virtual Accounting Services
The value of investing in virtual business accounting changes from one organization to the next. In nearly all situations, companies can benefit from making the switch to this more advanced, more hands-on form of accounting and financial management. If your company hired a bookkeeper or is managing the books independently, it may be beneficial to make the switch. The benefits that come from professional services like this are outstanding.
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Wed May 6, 2020 | Alan Lefkowitz | CFO Services, Financial Controller Services
Chief Financial Officer (CFO) Chief Financial Officer (CFO) is a strategic partner to the CEO and Senior Management, charged with financial responsibility for the whole company. Key CFO Responsibilities: Total fiscal oversight Financial analysis and forecasting Cash flow forecasting Strategic planning Risk Management, including insurance coverage Develops tax strategies Manages relationships with banks and auditors Develops company performance measures Capital management
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