According to the Wall Street Journal, 60-80% of business owners don’t know what their financial statements are telling them. I know what you’re thinking. “That’s not me.”
Having solid financial statements provides a clear picture of the financial health of your business – clarity in the overall financial picture. This level of visibility is critical in making good, strategic decisions about your business, it’s priorities, operations, and long-term investments. Useful financial statements are only produced by having a transparent accounting system and/or ERP where consistent and proper cost allocations are key to defining the cost drivers of your business, what’s making you profitable, or what’s dragging you down.
A skilled CFO can analyze the financial information that your company’s accounting system provides, and walk back through the financials to identify operational issues and provide answers to the company’s critical operational questions. They will be able to correct (when needed) and provide proper analysis of the variances, the Key Performance Indicators (KPIs), that will shed light on where greater efficiencies can be found, ultimately increasing the company’s bottom line.
Many business owners look at a few critical numbers on their financial reports. They look at Sales, Gross Margin and Net Income. They consider these the all-important numbers. But what is important is whether you are getting enough information in your reports to make changes in your business today that will make your company more profitable tomorrow.
CFO Simplified will take those complex reports and bring clarity to the numbers so that you can manage your company with greater confidence and knowledge, enabling you to make the critical decisions that need to be made every day.
Surveys show that small to medium-sized businesses are the most challenged to develop an accounting system that achieves full transparency and accuracy. CFO Simplified delivers complete and comprehensive financial reporting for businesses of any size, in any industry. We provide improvement for inconsistencies and the strong governance you need to move forward with confidence and keep on track to achieve your objectives.
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