Many companies and organizations reach a point where they have outgrown the capabilities of a bookkeeper or controller, but they are not in a position to hire a full-time Chief Financial Officer (CFO). Furthermore, an outsourced CFO is helpful for organizations that are in the process of hiring a new, full-time employee and need an interim solution during transition.
Organizations in either of these positions may benefit from working with a professional outsourced accounting advisor. Working with an outsourced accountant ensures that your financial and operational management needs are being met by an experienced, qualified accounting specialist, without the cost of hiring and training a full-time professional.
What Are the Benefits of Outsourced CFO/Controller Services?
An outsourced Controller/CFO accounting advisor can provide a transparent and efficient picture of your operations based on accurate, up-to-date financial data and benchmarks. Outsourced accountants then use that real-time data to help develop financial and operational improvements, resulting in fewer unwelcome surprises and more control over your bottom line.
Our outsourced CFO can help your business by:
- Handling daily finance operations such as accounts payable, payroll and financial statement preparation
- Producing transparent, accurate and meaningful real-time reporting and benchmarking data, and using that data to help strategize for the future
- Providing guidance on federal and state tax compliance and developing strategies to minimize overall tax liability and exposure
- Evaluating and developing improved internal controls
- Developing cash flow improvement programs and managing capital to improve profitability
- Selecting and implementing secure and functional accounting software
- Serving as a liaison for key relationships such as those with lenders, investors, bankers, auditors and lawyers
- Training staff on accounting best practices
What CFO Services Do We Provide?
Businesses of all sizes and all industries often seek professional advice from an outsourced CFO on a variety of topics including:
- Business and Financial Operations
- Accounts Payable
- Payroll and Financial Statement Preparation
- Budget Preparation and Forecasting (Short and Long Term)
- Cash Flow Modeling, Management and Projections
- Capital Asset Acquisition Planning and Financing Evaluations
- Development of Financial and Operational Improvement Plans
- Due Diligence
- Inventory Control
- Mergers and Acquisitions
- Procedures and Quality Control
- Profitability Analysis
- Risk Management
- Tax Planning
- Workplace Safety Review
- Financial and Benchmark Reporting
- Development, Interpretation and Utilization of Financial Reports
- Key Metric Benchmarking and Trend Analysis
- Software and Technology
- Accounting Software Selection and Implementation
- Financial and Accounting Systems Strategy & Design
- Business Relationship Management
- Audit Preparation and Liaison with Audit Firm
- Bank Financing and Investor Meeting Preparation
- Contract Review
- Insurance Lease and Equipment Purchase Consultation
- Liaison with Other Advisors and Vendors
Why Choose BSSF for Your Outsourced CFO/Controller Needs?
Brown Schultz Sheridan & Fritz is a premier advisory firm, providing accounting, assurance, tax and consulting services to the Mid-Atlantic Region. With the expertise of Brian Auchey, our Director of Client Advisory Services, we are able to provide quality outsourced accounting services to our clients.
Brian has served in various financial management roles for over 20 years. He can serve as an active and engaged participant within your management team, providing an informed strategic perspective on your business and financial operations. Regardless of size or stage of an organization, Brian believes in helping clients achieve their business goals.
“Our organization has been using the Outsourced Accounting Services of BSSF since December 1, 2020, and we are very pleased by the work of Brian Marchuck. Brian prepares all our financial reports and budgets, attends all our Board meetings, works diligently with our auditors and responds immediately whenever I have an issue or send him an email. He is professional, kind, efficient and courteous any time we have an interaction. Our financial accountability could not be in better hands, and I recommend BSSF very highly.” Denise M. Holden, MHS, CADC, Founder & CEO, The RASE Project