Frequently Asked Questions

No. Your accountant/CPA should have the education and work experience to perform accounting and compliance services such as transaction processing, accounting, financial statement preparation and taxes. However, to be a skilled CFO, one must not only have public accounting experience but also extensive experience working in private industry where they will gain the critical operating experience necessary to tackle the wide variety of business and financial challenges a business can face. Few accountants/CPAs have such experience. CFOsolutions has exactly this combination of experiences to assist you in efficiently developing and implementing cost effective solutions to maximize operational performance and financial profitability.

No. When engaging CFOsolutions, you are getting part time CFO expertise at a fraction of the cost of hiring a full time CFO. In addition, you will not incur the payroll tax and employee benefit expenses associated with hiring an employee. Most importantly, the part time nature of our service provides our clients the opportunity to utilize our resources more efficiently, thus maximizing the cost/benefit relationship of our service.

No. CFOsolutions does not charge for an initial consultation. The purpose of this consultation is to allow us to understand your business and your concerns which will enable us to determine how best we can assist you. If, at the conclusion of the initial consultation, we believe that we can provide a cost effective solution to your business, we will discuss with you a working relationship that would be fee based. We will not propose any working relationship with you if we do not believe your business will benefit by more than the cost of our service.

Following an initial consultation, should you wish to hire CFOsolutions to assist you, we will jointly work with you to determine the optimal working arrangement. Typically this will be for us to work with you a specified number of hours a week or month although it would not be unusual for there to be variation in this arrangement depending on your specific needs and circumstances. For instance, there may be a need to spend more time initially and less later on. We also perform one time standalone projects as time permits. The nature of our part time service gives us the flexibility to adjust to the needs of our clients. Whatever the arrangement we agree on, it is our goal to maximize the cost/benefit relationship for our clients.

Yes. Unless the business already has someone with real CFO expertise to assist in making finance and business decisions as well as directing finance and accounting operations, it can be of great value to hire a CFO whether on a full time or part time basis as the need may be. A CFO can improve decision making and free up business owners to be able to spend more time developing their business, turning a successful business into an even more successful one.