Consult Your CFO Blog

There are 6 reasons to document company processes. Understand the steps required to complete a certain process Understand the time necessary to complete the entire process and each step Understand the complexity of the process, by determining which department produces...

Wondering how to measure financial stability of a company? Start by reviewing four KPI categories: Liquidity, Safety, Profitability, and Efficiency. Together, liquidity and safety ratios show whether a company can meet its short-term and long-term debt obligations,...

An accounting manual is an important tool that all companies should create and maintain.  An accounting manual describes in detail accounting procedures and policies that are currently in affect at your company.  The accounting manual is like an owner’s manual you...

Small and medium sized businesses have been put on notice by the state governments.  Most States have budget shortfalls and need to obtain additional tax revenue.  States are hiring new investigators in order to assess more small and medium sized company’s...

Due to the severe economic downturn businesses are required to reduce staff and cut operating costs in order to maintain profitability.  The normal place to reduce staff is in the administrative areas.  However, as you will read from the article below, maintaining...

An accounting software system should not be simply used for recording and storing company transactional data.  The main purpose of an accounting system is to allow the user the capability to extract and analyze the transactional information in order to make informed...

A new company is highly motivated to obtain clients, thereby, bringing in cash to support the new company's initial employee and administrative costs. However, it is important to understand that obtaining new clients at any price is not a strong financial decision....

If a company offers credit terms, sooner or later it will encounter a customer or client who refuses to pay for the products and services it received. In the four years that I’ve been in business as an outsourced CFO, I’ve helped many companies deal with the hassles...

"How to Choose an Architect" is the first in a series of blogs discussing construction projects. Consult Your CFO and Joan Watkins, Owner of JSW Residential Design are collaborating to bring you this information. We hope you find this information helpful.

The feeling is overwhelming. The walls are closing in, nothing else fits through the door, and it finally hits you: you have outgrown your home. Whether you are planning an addition, a renovation, or starting fresh with a new build, you know what you want, more or...

You have designed your new building to your specifications and now comes one of the most important decisions in the entire process: choosing a contractor or builder to make it a reality. Start with Reputation When Choosing a Builder Hiring a builder both you and your...

Establishing a solid construction building agreement is extremely critical to the success of the project. You need to make sure your needs and priorities are completely documented and not open to interpretation. This makes obtaining a strong legal advocate throughout...

In any construction project planning is critical to the successful outcome of the design.  Over the years we have seen many construction projects that, due to lack of proper planning, fail, thus causing the owner to be unhappy with the design and have cost overruns...

In a previous blog we mentioned Change Orders.  Change Orders are used when the project requirements change due to an unforeseen issue or an owner request that is different than what was in the original construction documentation.  Change orders should be documented...

Your building project is set to go, you have the land, the designer has created the building of your dreams, your lawyer has checked your contract with the builder, the civil engineer has developed the site plan, and the building authority has approved the plans,...