Why shouldn't I just use my CPA?

While CPAs are very good at what they do, tax advice, tax returns, financial statements, most of this work other than the tax advice involves historical information. Their business is more in the area of looking back. A CFO or Controller helps run the business, and that requires looking forward.

During an audit, a CPA will acquire an understanding of the business, but most businesses do not require an audit. As former CFOs and Controllers, we already have an understanding of many types of businesses. In addition, we have knowledge of many business and accounting processes common to many companies. This knowledge gives us skills in the following areas:

  • Budget Preparation
  • Cash Flow Forecasting
  • Choosing a Commercial Liability Insurance Carrier
  • Payroll and Human Resource Matters
  • Determining Profit Margins Among Various Products or Services
  • Improving Profit Margins Through Pricing Strategies
  • Improving Collection of Receivables
  • Identifying Areas to Cut Costs
  • Negotiating/Assisting with Bank Financing

A CPA spends most of his time in his office. Your CFO or Part-time Controller takes a hands-on, on site approach and involves himself in the business. He will devise a set of Key Performance Indicators to help you focus your attention on the areas that matter most to you.