MSNCFO provides many opportunities to intermediate accounting students. Throughout my 3.5 years of working with the company, I was able to improve my existing skills, and generate many new ones. Through diversification, client interactivity, and mentorship, MSNCFO provides a one of a kind experience to any future accounting professional. The most significant benefit MSNCFO provides…
DetailsAn Outside CFO can add value to a business. They bring expertise in an affordable way, to complement management’s lack of high level Financial stewardship. Look for the following four qualities in picking an Outside CFO:- Expertise – This is basic. Do they have knowledge and experience in managing an accounting function? This involves the job…
DetailsComparing and Contrasting Roles Outsourced CFO Business accelerator -Improve profits, liquidity and stability by driving performance. Internally focused on implementing sound financial management practices and takes into account tax strategies. Responsible for the accuracy of transaction accounting and financial reports Takes over the banking relationship Does short and long term planning and implementation Be diagnostic…
DetailsWhat is this? It’s understanding forms an important basis for managing a business. Cash Basis of accounting is when you record in your accounting books, only monies that are collected and monies that are paid out. Under this basis, customers pay you in cash, check or credit card. You deposit all these monies in your…
DetailsWarren Buffett was once quoted as saying, “In the business world, the rearview mirror is always clearer than the windshield.” Financial accounting may well serve as that rearview mirror because it produces the figures that give a clear picture of how the business is performing in the form of reports. Accurate financial information helps businesses…
DetailsI have been outsourcing some of my firm’s work. The need, was several fold: Basic routine work to be done in a timely manner– data entry, reconciliations, correcting errors. Financial reports, review and analysis Design management reports – higher level of in –depth work The outsourcing relationship has two aspects: The infrastructure needed to run…
DetailsMost companies consider profit to be the main indicator of success. It is referred to as the “ bottom line” – the final difference between sales and all expenses, giving the financials an air of finality, as if there is no other number to look at to determine fiscal health! There is, however another number,…
DetailsI am regularly involved in raising capital – mainly Bank debt for my clients. This means discussions, submitting documents, answering questions, receiving a proposal (or being rejected!), evaluating competing offers, sometimes a collateral audit and final signing. An important thread in all of this is, preparing and providing financial reports and information. Once the loan…
DetailsStaff training is hardly done at small and medium businesses (SME) in accounting. As such, the SMEs are missing out on a very easy and important conduit of productivity improvements. The Accounting world is innovating and improving with the technology available to speed up data input ; in fact a lot of data entry can…
DetailsMostly, I work as a change agent. That is, I come into a company and have to improve work practices, introduce new methods and install new systems. This is CHANGE! Over the years, the best way I have found to go about this, is to have a project mentality. I think of a beginning and…
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