The service entails the basic functions of a CFO without having a CFO on staff. The service includes the following:
Representing the finance department at your leadership meeting.
Long term business planning and forecasting.
Short term cash flow planning,
Implement systems and controls,
Manage bank relationships
Review the accounting records, process relevant journals and prepare reconciliations.
Preparation of management reports including a profit and loss, balance sheet and cash flow statement which can assist with making informed decisions.
Preparation and maintenance of an annual budget.
Preparation and monthly updates of Key Metrics (KPIs).
Monitor your tax situation, prepare tax projections for owners, and look for ways to minimize taxes while maximising profits.
Help you build and maintain the appropriate cash reserve, advise on the amount to set aside for taxes, pay down debt etc.