Spending too much time handling financial and contract functions is often a plight of owners and managers in small organizations. Not only does this take you away from operations, but wearing so many hats makes it difficult to financially gauge the direction of your business. Cheryl Jefferson & Associates provides business advisory and management advisory services to allow you to redirect your attention and untangle your financial position.

CFO-Level Advisory Services

Growing small businesses often reach a point where they need professional financial advice, but can’t afford a full-time CFO or controller.

If you’re fortunate enough to be in this position then we have the perfect solution for you. Our CFO-level business advisory service gives you a professional who works with you to help guide your business to success.

The cost of hiring a full-time CFO can range from $80,000 to over $100,000 per year plus bonuses and benefits. Our CFO-level business advisory services provide you with experienced support at a small fraction of that cost.

Here’s what you get with our CFO-level business advisory services…

  • More time to focus on new services, new customers and other core business issues.
  • Better understanding of the financial side of your business. So you have less surprises and more control over the money.
  • Improved decision-making capabilities from clearly seeing the hard and true numbers of your business.
  • A readily available sounding board to help you with those tough business decisions and help you clarify your business plans.
  • A professional who assists you in establishing strong financial controls in your business to reduce employee theft and increase profits.
  • Training your accounting staff in bookkeeping and training owners in how to get much needed information from their financial statements
  • Improved quality and timeliness of financial information.
  • Budget preparation assistance and monitoring.
  • Profitability analysis by service or labor category.
  • Trend analysis.
  • Assistance in defining long-range plans and the quantification of goals.
  • Cash management analysis.
  • Liaison with bankers, attorneys, vendors, insurance agents, etc.
  • Assistance in obtaining financing from banks, including calculating covenant compliance.
  • Development of company accounting procedure manuals.
  • Analysis of equipment purchases, expansions, etc.

Budgets, Forecasts, & Projections

All businesses, including small businesses should have a financial map that provides direction as to how the organization will finance its strategic plans. Budgets, forecasts, and projections are those maps that outline the revenue your business could potentially earn and the funds it could potentially spend depending on the path you want to take.

We can assist you in:

  • Preparing annual budgets to gauge your progress in meeting performance goals
  • Preparing projected financial statements based on budgets
  • Preparing forecasts to determine the effect and possible outcome of various scenarios

Financial Analysis, Trends & Ratios

Analysis of your financials and calculation of trends and ratios can help pinpoint problem areas in your business. Financial analysis can also be a predictor of financial performance and sustainability.

We can prepare an analysis of your financial statements to provide insight into:

  • Liquidity to determine the company’s ability to meet short-term obligations.
  • Collection and cash flow problems.
  • Operating effectiveness.
  • Financial leverage to determine solvency of the business in the long-term.
  • Profitability to measure the business’ success.
  • Analysis of equipment financing options

Due Diligence

If you are considering acquisition of a business or asset, or involvement in a business transaction, you probably need some “fact checking”. This is where due diligence comes in. Due diligence is a form of risk management in that you are provided assistance in evaluating the adequacy or reliability of the financial statements of a target business, and the information you have been provided that is material to your decision to move forward. Due diligence may involve checking company background, processes and financial statements for intentional and unintentional errors, omissions or compliance issues.

It involves reviewing:

  • Business overview
  • Risk management processes
  • Personnel
  • Assets
  • Liabilities
  • Equity
  • Cash flow
  • Assumptions underlying the transaction

Interviewing Accounting Staff

How do you hire the right CFO, Controller, or Accounting Manager for your business if you don’t know what that looks like?

Cheryl Jefferson & Associates can assist with your accounting and finance department recruiting by performing key functions that assist you in making an informed and hopefully, the right decision for your company:

  • discussing your needs and the position requirements
  • assisting you in preparing the job posting or advertisement
  • interviewing candidates
  • presenting our evaluation of their suitability for your position and needs.

We can also assist with the recruiting and skills testing of lower level accounting staff as well.

 
Job cost reporting & analysis

Job cost reporting is a little more challenging for service industries, since its all about time. We can assist you in determining profitability by job, by person, by skill or even deliverable.

Alternative Reporting

Sometimes the standard set of financial statements just doesn’t give you a quick glimpse of the information that is most important to you. This is where we come in. We discuss you alternative reporting needs with you to determine what you believe are critical metrics and key performance indicators. We then streamline or develop new reporting formats based on these needs.

 
Accounting technology sounding board

When you are considering converting your current accounting software to another program, we can provide assistance in:

  • Comparability studies
  • Evaluating revised staffing needs
  • Evaluating lost functionality or process changes
  • A resource just to “run things by”

 

Accounting systems review to improve efficiencies and report

Even if you love your current accounting system, we can provide a system review to help you improve staff productivity and efficiencies.