CFO & CONTROLLER SERVICES
Our experience has proven that business owners are typically gifted disproportionately greater in one of three areas: Sales, Operations or Management. Typically, it is sales or operations.
Legendary business consultant, Peter Drucker, once stated: “Do what you do best and outsource the rest!” While he was speaking to the company capabilities, we believe that applies to skills sets within the management team as well.
As an owner of a privately held company, you are constantly faced with challenges: optimizing cash flow, maximizing profitability, accelerating growth, and planning your exit strategy. You may not be as skilled as you would like in these areas because you are focused on sales and operations.
You need a financial and strategic partner that is gifted in those areas to assist in thinking through those challenges specifically as well as the external and internal market forces confronting your business.
In order to recruit an A-player CFO and Controller combination, you may not be in a financial position to commit to such a person, and you may need both a CFO and a Controller combination. So, what do you do? Hire both part-time.
VK provides set of Fractional CFO & Controller services:
ACCOUNTING
Many of the Accounting & Bookkeeping Services such as GAO and account reconciliations may require expertise beyond basic bookkeeping skills, whereby our fractional controller services perform more advanced accounting to ensure the financials are complete and accurate.
ACCOUNTING SET-UP
Chart of Accounts structure is the fundamental building block for the entire financial reporting of the company.
DEBT COVENANT REVIEWS
- Compliance with debt covenants typically involves the use of financial statements and computation of financial ratios.
HISTORICAL CLEAN-UP
- Many companies do not manage their bookkeepers entering transactional data through a disciplined accounting process, and before you know it, the financials are cluttered with years of unrecognizable and unreconciled transactions. It takes significant experience to clean the historical transactions to produce relevant and accurate financials.
FINANCIAL STATEMENT PREPARATION
CPA does not have to be independent to conduct Financial Statement Preparation under SSARS 21, Section 70.
Include monthly financial reporting packages including the financial statements, key performance indicators (KPIs), analytics and management discussion and analysis.
- Provide reporting tools that provides breakeven analysis, KPIs, commons size analysis and analytics to provide keen insights to run and measure the company performance.
PERIOD END CLOSE
Many bookkeepers and accountants do not understand the repeatable procedures to close the books, typically at month end whether it is a soft or hard close all in the effort of producing monthly financials and other analyses (i.e., budget vs. actuals and KPIs).
SOURCES & USES ANALYSIS
Do you know where your cash flow is going, and can you predict it for the next quarter or next year?
- We implement a discipline, process and tool to produce a 13-week (i.e., week-by-week) and rolling 12-month sources & uses analyses outside of the forecast model, especially for monitoring short-term cash flow crunches and needs.
SUPERVISORY & REVIEW
We supervise your staff performing many of the Accounting & Bookkeeping Services like APO, ARO and account reconciliations.