What is a CFO?
A CFO (Chief Financial Officer) is responsible for overseeing the financial operations of a business. In a multi-million dollar corporation, the CFO is an individual separate from the CEO (Chief Executive Officer) or COO (Chief Operating Officer). In a sole-proprietorship, the CEO, COO and CFO are the owner.
Whether you have a multi-million dollar corporation or are a sole-proprietor, if you want to be successful – that mean profitable (or MORE profitable) – you have financial management responsibilities that cannot be ignored.
These responsibilities include:
- Establishing and improving the Information System
- Monitoring accounting controls
- Analyzing financial reports
- Managing capital and cash-flow
- Obtaining financing
- Planning for growth
- Forecasting financial results
- Preparing for retirement
Each of these responsibilities involve a number of tasks, all of which take time and expertise. And, in this super-fast-paced-information-age, time and financial management expertise are resources very few business owners possess.
Who needs a CFO?
Every business owner who wishes to take advantage of the full profitability potential of their business, either needs to fulfill the responsibilities of a CFO, or hire a CFO. Unfortunately, most business owners have little experience with accounting and no expertise in financial management.
While most businesses utilize a computerized accounting system, many business owners don’t have “the foggiest notion” how to get it to produce the reports they need to adequately manage the financial aspects of their business. Others use computers regularly, but may have outdated systems or have looked to upgrade the information system and are left even more confused by the scores of products, “sexy” literature, and pushy retailers who want to make a quick sale and move on to the next customer. Even “savvy” financial managers very often haven’t the time or the inclination to explore all of the features of the programs they already own, or investigate new, streamlined, methods of financial recording, reporting and data analysis, and may, as a result, continue to rely on manual or outdated methods of financial management.
What can KEVIN R. MINKOFF, CPA, PC do for you?
- Provide one-on-one monthly financial coaching
- Develop or improve your information system
- Help design key business reports like budgets and forecasts
- Teach you (or refresh your memory) how to read and analyze financial statements
- Develop a financial road map for your company
- Work with your investors and lenders
- Sit on your board of advisers
- Be available when and where you need us
- Help build debt repayment plans
- Find ways to improve long-term sustainable profitability
Why hire KEVIN MINKOFF, CPA?
- You’ll gain the confidence in knowing exactly how your business is currently performing, and the clarity you’ve been missing that’s needed to make better business decisions.
- You’ll enjoy the peace of mind that comes with achieving the highest level of accountability by having a financial expert to supervise your accounting staff.
- You’ll have the satisfaction that comes with improved communication among employees at every level of your organization.