Phone: 403-271-3106
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Achen Henderson Guru
Total Financial Management with a Part-Time CFO

Financial management is a challenge for most business owners. While larger businesses typically employ full-time CFOs, it’s a luxury most small businesses simply can’t afford.

This is where a part-time CFO can be of service to help outsource your financial roles and responsibilities to an expert.

What is a Chief Financial Officer (CFO)?

A CFO interprets and analyzes the information and data that has been gathered by the company’s books and other records. This information is used to:

  • Provide insight into what’s happened in the past, what’s going on right now, and what future issues may arise if things keep going as they are now.
  • Evaluate and advise on the future effects of investment, financing, operational, and HR decisions.

As a full-time CFO isn’t an option for many businesses, a part time CFO can be a more strategic and sensible decision.


Part-time CFO services

Let us be your part-time CFO for a lot less than it costs to hire a full-time person. We’ll look after all your bookkeeping and payroll, handle financial statements and tax preparation, and provide you with these CFO financial management services:

Management Accounting

Rather than receiving a set of accounts just once a year at year end, you receive a fully reconciled set of accounts each month or each quarter, with a report pack containing your:

  • Profit & Loss (Income Statement)
  • Balance sheet
  • Aged debtors & creditors
  • Cash flow summary
  • An executive summary giving you the top-level information you need to make informed business decisions
  • Additional reports required (key performance indicators, budget analysis, departmental reporting, etc.)

As your trusted advisers, the major value we provide is our analysis and commentary on your monthly or quarterly performance.

Pre-year-end Tax Planning Review

A lot of accountants will wait until several months after your year end before offering you tax advice. This is the most basic form of tax planning and at that stage it’s too late to implement tax-minimizing strategies.

As your outsourced CFO, we implement our pre-year-end Tax Planning Review three months before your year end, so we can start making a real impact and minimize the tax you have to pay.

Budgets & Forecasts

We believe that every business should have a three-year financial budget to plan its future objectives. This informs your board and your entire team to ensure you are all working in sync.

We’ll also create, manage, and update a rolling 12-month, three-way forecast of your profit and loss, cash flow, and balance sheet so you always have a clear picture of the future financial performance and position of your business, based on what we know today (committed sales and costs). This is about bringing the future into the present so you can do something about it.

Financial Tracking & Planning

With your input, we will identify your Key Performance Indicators (KPIs), prepare a three-year, three-way rolling budget, and meet with you in quarterly intervals to review them.

In our quarterly management accounting reports, we’ll provide:

  • KPI tracking
  • Three-year, three-way rolling pre-year-end tax planning

We will also meet with you one quarter before year end to provide you with a tax estimate and discuss any changes we’ll need to consider.


Benefits of outsourcing your CFO

There are many benefits to using a part-time CFO for small businesses. Below are a few reasons why a business should consider a part time CFO service:

  • Cost Savings: Hiring a full-time CFO can be expensive. Outsourcing allows companies to access CFO-level expertise without the long-term financial commitment.
  • Expertise on Demand: Outsourced CFOs have a breadth of experience across  various industries and can provide specialized knowledge when needed without being a permanent staff member.
  • Flexibility: You can use an outsourced CFO on a project basis or as a part-time resource, adapting to your specific needs as they change over time.
  • Risk Mitigation: CFOs often play a critical role in risk management and financial compliance. An outsourced CFO can help reduce the risk of financial errors and non-compliance by bringing in external expertise and an objective perspective on financial decisions.
  • Scalability: As your company grows, an outsourced CFO can help you adapt to changing financial needs without the challenges of hiring, onboarding, and training a new in-house CFO.

Making financial management easy

As a business owner, financial management can feel like a juggling act. With Achen Henderson CPAs as your outsourced CFO, this stressful part of running a business  becomes easy. You’ll feel in control, more confident in your ability to make strategic  decisions, and supported by a team that knows you and your business.

Talk to us today about achieving the financial success you’ve always wanted with our part-time CFO service.

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