Category Archives: Finance Consulting

How to Determine if You Need New Accounting Software Part Two – Systems Selection

Selecting The Right Accounting Software – Interim CFO

In part one of this series, I identified the considerations you should keep in mind when deciding whether or not your company has outgrown Quickbooks. Part two covers how systems selection is the first big hurdle in a conversion.  Selecting the “wrong” system is not an uncommon mistake and the “right” system may be one of several …

How to Determine if You Need New Accounting Software Part One

How To Determine if You Need New Accounting Software Part One - vcfo

A common concern for many of our clients is in regards to their accounting software, specifically QuickBooks. Deciding when to make the switch from QuickBooks for a more robust accounting or Enterprise Resource Planning (ERP) system is no trivial matter. On the one hand, once a company has outgrown QuickBooks, remaining with it may limit …

The Single BEST Way to Prevent Financial Fraud

The Single BEST Way to Prevent Financial Fraud - vcfo

Financial fraud is a bad scenario for business owners. Beyond the embarrassment or the financial loss, fraud can also result in the termination of a long-term employee. A few factors may put a company at risk; however, the primary cause is a lack of internal controls and oversight. We also find that a lack of …

From Passion to Profitability: Tips for Independent Breweries and Wineries

In the Pacific Northwest, craft beers, microbrews and local wines are highly celebrated and sought after. But if you work in the business then you know that local enthusiasm doesn’t make the brewing or winemaking business in Washington state or Oregon easy by any means. This post explores some key trends that are shaping business …

Improving Manufacturing Profitability: A Four-Step Plan

For manufacturing firms, managing product lines to maximize gross margins while maintaining quality and safety standards is the key to profitability and success. In this industry, it is critical to have clearly defined profitability measurements and a plan for tracking, analyzing and integrating that data to inform the financial and operational decisions necessary to sustain …

How suppliers can prepare for aircraft manufacture cost-cutting demands: 5 key steps

From a competitive standpoint, 2016 has been a choppy year for major aircraft manufacturers. Intense pricing competition between Airbus and Boeing, as well as increasing competition from Bombardier, have led both companies to pursue cost-cutting efforts. The ripple effects to suppliers from Boeing’s latest efforts, including requests for longer payment terms, have significant business implications. …

6 Ways Restaurants Can Avoid Unnecessary Credit Card Processing Costs

The pressures on restaurant owners and managers are relentless. New competition. Shifting economic conditions. Changing tastes. All kinds of constantly evolving business considerations make it easy to get caught up worrying about things like customer service and turnover while revenue and profits slip away. In fact, when we provide CFO consulting services to restaurants, we …

The Importance of Value Interpretation During a Sale

A cursory view of the stock market would have you believe that a company’s value is a singular metric. A stock is trading for $100 and is, therefore, worth its stock price multiplied by the number of outstanding shares. But, there is more at play than meets the eye here. That $100 stock price is …

Top 5 Challenges for CEOs and Business Owners: Part 2

We have seen CEOs and business owners struggle to meet the challenges to building sustainable value in their companies. These challenges are shown as a progression from low-value at the survival stage to a high value exit plan at the top of the stairs. Challenge #3: Making Consistently Good Decisions All companies’ structures and performances …

What you need to know about accounting for Digital Currency

In the past 50 years, we’ve experienced one of the greatest evolutions in the payment industry: the credit card. Enabling people to make purchases and send or receive money digitally, the credit card minimized society’s use of cash and checks. For accountants, this introduced a new way businesses are paid and how they pay their …