CFO Services (Public & Private)

Our firm is comprised of seasoned professionals with backgrounds in industry and public accounting who are able to quickly get up to speed and provide quality deliverables. We strive to offer a customized approach to every client’s needs that enable us to simplify complex situations for clients who are seeking increased bandwidth during busy times, need timely year-end audits, need to save money on auditor fees, are lacking in-house experience in technical accounting matters or just need help processing transactions.We recognize the daily challenges that client’s face and remain ready to tackle them head on. As a financial advisor to our clients, we provide the management team with our expertise on communicating and navigating the capital markets to best benefit their needs. When we consider taking a client engagement, we make certain to understand our clients’ current valuation as a standalone and also relevant to their industry peers. At that point, we can engage our investor networks to best position the client in the capital markets to maximize shareholder value.

Accounting Department Management

Our team is equipped to assist our clients in all spectrums of the accounting process. It is not uncommon for many companies to lack the in-house experience to address their accounting and financial reporting needs. Whether on an ongoing basis or during short, focused periods of time during month-end or year-end closes, we are prepared to provide a high quality, cost effective outsourcing solution.

Audit Preparation

One of the keys to a successful audit is performing the proper audit preparation. Late reports, penalties or noncompliance with debt covenants and SEC regulations and internal friction with audit committees are all organizational issues that stem from lack of proper preparation. While the actual audit may be the responsibility of an outside audit firm, preparation is the company’s responsibility. With our experienced team behind you, we can get you audit-ready in a timely and cost-efficient manner. We are prepared to:

  • Identify, research and analyze technical accounting issues
  • Reconcile bank accounts, prepaid expenses, fixed assets, accrued expenses
  • Prepare draft financial reports and accompanying footnote disclosures
  • Prepare audit schedules
  • Organize electronic files containing all financial and audit schedules
  • Assist with accounting for equity transactions
  • Analyze and record stock-based compensation
  • Review and report on revenue recognition
  • Analyze tax provisions and reserves

Financial Forecasting, Budget Preparation and Monitoring

Accurate financial modeling and forecasting is an essential component to any organization to help management quantify their plans, understand their financial performance, make better decisions and present their ambitions to outside parties. Critical to the financial model are the underlying assumptions, expectations and drivers to the business that allow the financial model to take shape. We are highly skilled at constructing financial models for our clients so that it can be an effective tool for not only outside parties, but also for management on an ongoing basis. We know that business owners are faced with difficult decisions every day and we can help simplify decision-making processes.

An effective budget preparation process includes trade-offs and prioritization of company initiatives to ensure that the budget fits your business policies and plans. The most cost-effective variants must be selected with a view toward increasing operational efficiency and maintaining the necessary financial constraints. Accordingly, the budget formulation process must involve setting up the fiscal targets and the level of expenditures compatible with these targets, formulating expense policies, allocating resources in conformity with both policies and fiscal targets and addressing operational efficiency and performance issues.

A budget is management’s hypothesis of how the company will perform financially given the most likely set of circumstances. We can validate budgets developed with a best guess from management using statistical methods and sensitivity analysis. A budget can be converted into a set of financial forecasts, which are a formal presentation of the budget distributed to potential lenders or investors. Further analysis through costing, pro-forma analysis and financial projections can help management understand costs and present the expected financial results of their business plans to outside parties. As financial statements are produced, they can be compared to the budget to help you understand the nature of your costs and identify inefficiencies – it is a road map that helps you stay on track.

Cash Flow Management and Projections

Having consistent and accurate visibility on cash flow is critical to any business. A cash crisis can be devastating and can cripple your business. With our assistance, we can help you manage and project your cash flow properly. This allows you to know:

  • when, where, and how your cash needs will occur;
  • what the best sources are for meeting your additional cash needs; and
  • how to be prepared to meet these needs when they occur, by keeping good relationships with bankers and other creditors.

We start by developing a cash flow projection. This will help develop both short-term (weekly, monthly) cash flow projections to help manage daily cash, and long-term (annual, 3-5 year) cash flow projections. This helps to develop the necessary capital strategy to meet your business needs. We also prepare historical cash flow statements to help you gain an understanding about past performance.

By creating an accurate cash flow projection, we can help you strengthen your ability to obtain an appropriate line of credit, enhance your cash collection acceleration techniques, establish effective collection and payment policies and help you obtain the maximum rate of return on your idle cash.

Process Improvement

Business process improvement is a systematic approach to help an organization optimize its underlying processes to achieve more efficient results. Effective process improvement is part of organizational development in which a series of actions are taken to identify, analyze and improve existing business processes within an organization to meet new goals and objectives such as:

  • Revenue enhancement
  • Increasing profits and performance
  • Reducing costs

Process improvement is also a method to introduce process changes to improve the quality of a product or service, to better match customer and consumer needs. Our team has experience in operating businesses and can:

  • Identify what’s important to the customer and the business
  • Identify associated critical business processes
  • Prioritize key processes
  • Help you distinguish clearly between how you think a given process works and how it actually works
  • Analyze the process for waste, inefficiencies, wait times, etc.
  • Redesign and re-engineer the process to what you would like it to be
  • Implement process improvements identified
  • Monitor re-designed process performance to ensure success

Profitability Enhancement

Our accounting and finance expertise enable us to assist companies in maintaining or enhancing the profitability components that come from a combination of financial and managerial disciplines which contribute to continuous growth of sales and earnings. Our services include:

  • Profitability analysis – A technique for understanding the impact of three key contributors to a company’s sales base: customers, product and service.
  • Cost analysis – To be an effective management tool, cost system management must guide you in making good business decisions on what to offer and what to charge for it.
  • Benchmarking and performance analysis – To effectively interpret operating results, management must establish realistic financial benchmarks. Only then can they determine whether they are operating above or below expectations and take appropriate corrective action.
  • Supplier analysis and negotiation – As customers continue to squeeze margin out of company sales, companies in turn need to leverage their position with suppliers.
  • Implementation and execution – Once profitability by segment is understood, procedures may be changed to maximize the value added revenue from pricing policy, production scheduling, even organizational structure.

Planning and Implementation of Accounting Policies and Procedures

We can assist our clients by designing and implementing the high-level policies and procedures to ensure that financial activity is recorded accurately and consistently across the organization. This includes the following and helps answer the question of “who does what?” & “how to do it?” by formulating standard and reliable accounting processes.

  • Plan the required resources needed for the department.
  • Establish authorities and duties in the department for maximizing efficiency and effectiveness.
  • Achieve segregation of duties and internal controls in the department.
  • Set comprehensive policies and procedures to streamline accounting operations.
  • Acquire a reference explaining essential accounting assumptions and their application.

Accounting Transaction Processing

The foundation for accurate and timely financial reporting starts with effective and efficient transaction processing. This is essentially true of all accounting and financial management efforts, whether performed in-house or outsourced.

We provide efficient transaction processing services to our clients including:

Cash Receipt Processing

  • Bank accounts
  • Merchant accounts
  • Daily cash receipts
  • Merchant account processing

Accounts Receivable

  • Sales orders
  • Customer invoices
  • Customer statements
  • Payment applications
  • Credit memo and refunds
  • Customer set-up and maintenance
  • Inter-company accounting

Accounts Payable

  • Vendor bills processing
  • Credit and debit card processing
  • Vendor payments
  • Purchase orders processing
  • Expense report processing
  • Vendor set-up and maintenance
  • Inter-company accounting

Cost Accounting and Inventory

  • Cost accounting
  • Inventory transaction processing
  • Inventory movement processing
  • Inventory valuation and monitoring

Fixed Assets, Prepayments and Accruals

  • Fixed asset accounting
  • Prepayments and accruals
  • Journal entries

General Ledger Accounting & Reporting

Whether we are directly involved in transaction processing or you have the staff already in place, we are equipped to assume a supervisory role and be responsible for directing other accountants or clerks, and reviewing the bookkeeping including:

  • Amortization of prepaid charges such as insurance premiums
  • Accruals of expenses incurred but not yet billed, such as materials and supplies received, utilities used, and employee benefits such as vacations
  • Journal entries to record depreciation on fixed assets, such as the company's plant and equipment, entries to record the cost of sales based on purchases, manufactured products, and changes in inventory balances, and entries to record accrued or deferred income taxes, based on net taxable income or loss
  • Review of accounts receivable and accounts payable vouchers
  • Preparation and control over the monthly accounting closing schedules
  • Review of the purchases and sales journal and the cash receipts and disbursements journal
  • Supervision of the payroll process and review of the payroll register
  • Calculation and recording of depreciation, amortization and depletion
  • Determination of the cost of goods sold and inventory balances
  • Review of the trial balance
  • Account analyses and reconciliations
  • Preparation of information required for internal management reports and outside reporting.
  • Budget control and variance analysis.
  • Compilation of information and preparation of schedules required by internal and independent auditors.