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.
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.
Your Outsourced Financial Management Team
Let us be your 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:
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.
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.
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.
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.
Making Financial Management Easy
As a business owner, financial management can feel like a juggling act. With Achen Henderson 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.