Frequently asked questions about our services
Questions

What kinds of companies are candidates for retaining a part-time CFO?
Any company that needs a greater level of financial expertise, but is not in a position to hire a full-time CFO, is a canidate. Typically, this would be a company with:
  • Anywhere from 10 -100 employees, an/or
  • 1-3 bookkeeping or accounting employees

Will retaining a part-time CFO allow me to reduce my bookkeeping/accounting staff?
It’s unusual to be able to reduce your staff size, but you should expect to:
  • Delay increasing staff size
  • Operate with lower levels of expertise in your bookkeeping staff, thus saving on payroll costs
  • Get more and better management information with your existing staff

Can I get rid of my tax guy if I hire you as a part-time CFO?
Tax preparation and consulting is a specialty that requires a substantial commitment to continuing education on the tax code.  Since I specialize in management accounting, I don’t always keep up with the latest changes in the tax code in enough detail to be able to prepare your income taxes.  I can prepare payroll and sales taxes, or train and supervise your staff person doing so.  In addition, you may be able to reduce your income tax preparation bill, as your financial information should require little or no adjustment from your tax preparer.

Can you do my annual audit (or review)?
Conducting an audit or review requires a level of independence that I would not be able to claim.  If you need audited or reviewed financials, you’ll still need a more independent CPA for that purpose.  However, like with tax preparation, you may be able to reduce your audit fee, as your financial information should require little or no adjustment from your auditor.

Can't my current CPA firm provide this service?
There are two primary reasons why this is probably not a good idea. First, functioning as a CFO at your firm would impair a CPA firm's independence. Second, your CPA firm is probably going to be very busy from January 1 to April 15, and may not be able to provide a consistent level of service.

Isn’t this a bad time to be launching or growing a business?
On the contrary!  The economy is recovering in the rest of the country, and it’s only a matter of time before the recovery hits Central Florida.  This is the time for us to position our businesses, so we can hit the ground running as the recovery takes hold.




More Questions?


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