Tag Archives: financial strategy

Forming a Board – Key Considerations for Growing Businesses

For public companies, having a board of directors is both essential and required to protect shareholder interests, weigh key actions, and support well-informed decisions. While private companies don’t have the same requirement, a board of advisors or directors can nonetheless be just as helpful and important  to maximize business success. However, forming a board that’s …

Finance Year-End

As Year-end Approaches, Finish Strong and Focus Forward As CEOs and other leaders come to grips with the reality of another year quickly coming to a close, many simultaneously recognize that it is a vital time to take stock of what needs to be done to strengthen one’s business and get it to where we …

Do I Need a CFO?

Some form of the question, “Do I need a CFO?” surfaces in the course of conversation at a very high percentage of the lunches or professional events our vcfo consultants attend with business leaders. It’s a pivotal and not surprising question for CEOs to struggle with, especially when they have solid controllers and accounting managers …

Two Sets of Books for Revenue Recognition

Revenue Recognition Standards – Virtual & Part Time CFO

You Will Have to Keep Two Sets of Books if Impacted by the New Revenue Recognition Standard. It is not too soon to be evaluating the impact of ASC 606 on their financial reporting and other aspects of their business. It is recommended that businesses undertake and impact assessment and develop an implementation plan and budget.  …

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 …

Outsourcing vs. Centralizing vs. Offshoring: Which is Best for your Business?

Outsourcing, Centralizing or Offshoring – Virtual & PT CFO

Looking to streamline your business functions and can’t decide whether you should outsource, centralize or offshore? All three are great options for small business owners looking to increase efficiencies, reduce cost and improve service – so let’s break them down to determine which is the best for your business. Defining the Options When it comes …

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 …

How to Fund Your Business

How to Fund Your Business - vcfo

Options to fund a business range from family and friends to banks to institutional capital and business owners are best served by understanding the advantages and disadvantages of each option before making this decision. Read more below for tips on navigating this process effectively. Overview of the Stages: Even though every company has a timeline, …

The Best of vcfo Webinars: Expert Training for Your Business

With 2017 still new and full of possibility, we thought it was the perfect time to revisit some of our most helpful webinars from recent years. Whether you need winning ideas for a big upcoming pitch or want to brush up on your budgeting basics before diving into the year’s financial planning, you’ll find valuable …