A company's controller is the chief accounting officer and heads the accounting department. The controller is responsible for the company's financial statements, general ledger, cost accounting, payroll, accounts payable, accounts receivable, budgeting, tax compliance, and various special analyses. …Read More
Now more than ever, startups and corporates are looking for ways to run lean. There is pressure to make cuts to staff and outsource when possible, and this has led to a trend of hiring virtual CFO services over the more traditional in-house full-time CFO. The role of a Virtual CFO is to be a forward…Read More
Working capital is defined as current assets minus current liabilities. For example, if a company has current assets of $90,000 and its current liabilities are $80,000, the company has working capital of $10,000. Regardless of a company’s size or industry sector, working capital is an important me…Read More
You may be wondering whose job it is to make sense of all the financial data in your small business. It usually isn’t a bookkeeper or accountants job who is mostly responsible for ensuring bookkeeping is accurate and financial records are completed on time. The role of a part-time or contract CFO,…Read More
Many people use Chief Financial Officer (“CFO”) and Controller interchangeably because they think it is the same position. It is quite possible that you've seen other businesses with CFOs and controllers who have the exact same responsibilities, but this can make things confusing. So, what is th…Read More
Small business owners often get by with various members of the organization completing your financial and accounting tasks. As your small business grows, there will come a time when owners need to address the issue of when to hire a company financial controller. While bookkeepers and accounting mana…Read More
When you are a business owner, there are many moving pieces to your small business. Hopefully, your small business is thriving and revenue is coming in. However, amongst all the growth, there are questions about your future. You find yourself wondering what to do about financial decisions like are y…Read More
For small business owners, cash flow problems are a common and dangerous threat to the survival of their companies. Start-up businesses often find themselves short of cash right off the mark. Cash is the single most important element of survival for a small business, however, small businesses often …Read More
Running a small business is a daunting challenge. Statistically, less than 50 percent of small businesses are still operational after five years. Globalization has increased the level of competition and introduced more turmoil to the business environment. Certain professionals such as outsourced boo…Read More
The accounting profession has gone through some major changes, and now more firms than ever are competing with each other. Small businesses and startups have many affordable options when it comes to ordinary services such as tax preparation and assistance, bookkeeping services, and management consul…Read More
