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Frequently Asked Questions
A CFO can be helpful in growing a business by ensuring profitable growth as the business becomes more complex. This involves:
- Implement systems that will support sustainable growth
- Improve visibility and analytical capabilities to convert large amounts of data into actionable information
- Explore causes of revenue leakage, costs overruns, and operational friction in a growing business and develop potential solutions
To achieve business goals, CFOs are often brought in to achieve specific business goal(s). They can be helpful by:
- Getting books in order
- Producing financial forecasts
- Bringing expertise and validation to the company
- Helping with strategic relationships
Partner with companies to help overcome financial challenges, achieve growth, optimize strategy, implement systems, raise capital, and/or navigate transactions. They often are brought in when there are financial challenges that the company’s existing team does not have either the skills or manpower to overcome.
CFOs create and use strategies to drive value with the goal of optimizing company performance and profitability, maximizing existing and potential resources, and increasing the efficiency and efficacy with which a company achieves its goals.
CFOs can help companies:
- Develop detailed short, mid, and long term financial forecasts
- Prepare budgets based on forecasts
- Analyze potential future products, services, and markets
To determine the costs of services at Candor Financial Consulting, we would need to determine your needs and the size of your business. At Candor Financial Consulting we work on a retainer or contractual basis. Please review our services to help determine what is best for you. If you are ready to discuss how we can help organize and assist in the growth of the financials in your business, book a free call to discuss your needs and receive a quote. Book A FREE Qoute
That’s fine! Candor Financial Consulting covers bookkeeping, accounting, and CFO services. We can build the financial foundation of your business, maintain its growth, and prepare financials for the future.
No problem, Candor Financial Consulting works with in-house teams to organize financials and elevate strategies.
A CFO is responsible for the overall financial health of a company and looking in to and preparing for the financial future of the company.
A Comptroller/Controller- focuses on more specific aspects of financial management and oversight of accounting operations.
An Accountant- manages financial processes and oversees the bookkeeper and daily accounting and reporting tasks.
A Bookkeeper performs basic financial record keeping and create simple financial reports.
If your current team lacks financial experience or struggles with financial planning, a fractional CFO can fill the gap.
Fractional CFOs provide services for an organization in a part time, retainer, or project basis. They can also be used to unload some of the financial reporting of other roles within a business.
Interim CFOs act in the role for only a specified period or in between the departure of one executive and the start of a new one. They substitute for someone during his or her absence.
As revenues grow, companies begin to find that more proactivity is required within strategic financial decision-making. With intermittent needs arising across a range of finance related areas, it can be cost effective and flexible to bring in a fractional CFO to help build processes for long lasting stability.
I work with clients virtually, but if you are based in MD, DC, or VA then we can work together in person, for an additional fee.
It’s almost interchangeable. Fractional CFOs work on a contract/project specific basis. Virtual CFOs work with clients virtually. That’s the main difference is the in person aspect of working with the client. More importantly it’s best to look at the specific services that the CFO consultant offers to determine what is best for your business.