All businesses need cash to operate. Without it, you can’t repay expenses let along find new ways to grow your business. But where can you go to find that needed cash? There are only three options: an investor, a bank or within your business. (more…)
Posts Tagged ‘chief financial officer’
Outsourced CFO Services Support Small Businesses
Do you ever feel like you can’t seem to get your arms around costs? If so, you could probably benefit from the skills of a CFO. The following are other signs that you may need a CFO:
- You regularly bounce checks.
- You don’t have immediate access to financial information when your banker asks for it.
- Your budget and forecasting is lacking.
- As an owner, you have your hands in too many things to focus properly on your finances.
- You can’t answer the question, “How much money did you make yesterday?”
Most small business owners face at least one of these issues; however, they don’t have the need or resources for a full-time CFO. These owners often rely on a controller, bookkeeper or office manager to manage the internal accounting function.
Sound familiar? If so, you need to recognize that even though these people can do an excellent job for you, a CFO can bring additional skills to the table. You’ll probably wonder how you ever got by without this kind of person. (more…)
A CFO, or chief financial officer, is the financial head of an organization. Usually reporting directly to the CEO, or chief executive officer, a CFO is responsible for keeping an organization financially healthy.
CFOs work in businesses, not-for-profit organizations and even some government entities. They are responsible for the finances, but what all does that entail? A CFO has four “COAR” areas of responsibility: