CFO Strategies

Frequently Asked Questions

What Makes CFO Strategies Different from the "Typical Accountant?"

Wouldn’t it be great as a business owner to have the capability to look forward and project whether the job you are working on will be profitable at completion, or what your cash position will look like three months from today as opposed to waiting for the typical accountant’s reporting about the past? What makes CFO Strategies different is that while we have the hands-on experience to provide historical-financial information like most accountants, we are different in that we are forward looking CPAs that help management anticipate and plan for the future. Our goal is to provide you with financial information, tailored to your specific needs, that you can ACTUALLY use and rely upon to make informed business decisions. If a job is not profitable, we can catch it early enough to make changes to the strategy. Not only does this allow you as an owner to make better financial decisions, but it also takes the stress out of the back office and allows you to go out and do what you do best, which is Build YOUR business.

What If I Don't Know What Services I Need? How Do You Help Determine What Services My Company Needs?

Senior members of the CFO Strategies team perform a complementary due diligence review, which includes an on-site visit, review of your financial records, and interviews with key staff. We then generate a proposal that outlines our assessment and makes recommendations for implementing best practices, including a multi-phase approach to achieving the mutually agreed-upon goals.

Where Is Your Office?

Our office is your office. We establish ourselves as a member of your team, providing services on site, yet remaining available even when we are not there, to support your staff and senior leadership as issues arise.

If I Hire CFO Strategies, Am I Contractually Obligated for a Specific Period of Time?

No. We are at-will. While we do ask for 30-day notice to help in a transition period, services can be terminated at any time by either party.

How Much Do These Services Cost?

We tailor our services to each client’s specific needs and cost varies based on the amount of days per month/week and the amount of people on site. However, we do our best to provide our services at an affordable cost.

Are You a Staffing Company?

No. While we can help place full time controllers and CFO’s in the event a company is looking for a full time person, our team consist of employees of CFO Strategies designed to meet your company’s specific needs.

Are You Only Available on a Part Time Basis?

That depends, Many times it is more cost-effective for companies to outsource their entire accounting department to CFO Strategies. In that scenario we have employees that are working full time specifically for that client.

Do You Bill by the Hour?

Absolutely not, We have moved away from billing by the hour. For the most part, we bill by the month, with some exceptions for clients that want to be billed by the week. We are accessible on-site and remote for our clients and do not charge for telephone calls or email correspondence. It is part of what we do.

What Should Everyone Know About Accounting?

Accounting accumulates and reports all financial transactions for a company. Accounting and financial reporting enable management to make informed business decisions.

What Does the CFO of a Company Do?

The CFO oversees all accounting and financial reporting for a company and manages the companies cash and financing. The CFO is also a trusted financial advisor to the owners and/or board of directors and participates in strategic decisions.

What Does a CFO Do in a Small Business?

The CFO oversees all accounting and financial reporting for a company and manages the companies cash and financing. The CFO is also a trusted financial advisor to the owners and/or board of directors and participates in strategic decisions.

At What Point Does a Self-Funded Startup Need a CFO?

Every company needs a CFO. A start-up also needs the services of a CFO but may not need, or have the budget, for a full-time CFO. A part-time CFO can often provide a start-up with the financial oversight and day-to-day accounting and reporting services to facilitate their success.

Why Should I Consider Hiring a Virtual CFO Instead of Hiring a CFO In-House for My Hedge Fund?

The decision to hire an in-house CFO versus a virtual CFO is based on the volume of transactions and budget considerations. The size and complexity of the business will also factor into the decision. Also, some businesses may not need the CFO to be physically in the office.

How Do I Find a Seasoned CFO for My Startup Business?

A seasoned CFO can be found by referral – asking your lender or CPA firm is a good place to start. Searching the internet is another way to find a CFO but obtaining references is important in making the decision.

How Different Is the Role of Financial Controller and CFO?

A financial controller oversees the day-to-day accounting for a company and prepares financial reports. The CFO oversees the controller and also participates in the strategic decisions of the company, as well as cash management and the company’s finance function.

What Does CFO Stand for in Business?

Chief Financial Officer

Members of the American Institute of Certified Public Accountants (AICPA)Members of the Financial Executives Networking Group (FENG) Certified Management Accountants (CMA) - NJ Members of the Construction Financial Management Association (CFMA) Quickbooks Certified Pro Advisor Members of the NJ and NY Society of CPAs  Middlesex County Regional Chamber of Commerce - NJ

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