Questions to Ask an Outsourced CFO Before You Hire Them

pencil Posted by Richard Veltre on June 1, 2017

You’ve decided that an outsourced CFO to guide your company’s finances is a cost-effective strategy; now you’re on the lookout for someone who won’t break the bank but who’s also fully qualified and a good fit for your company culture.

Here are 5 questions to ask an outsourced CFO before you hire them.

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What's the Difference Between a CFO and an Accountant?

pencil Posted by Richard Veltre on May 19, 2017

The average observer may consider the titles of ‘Chief Financial Officer’ (CFO) and ‘accountant’ to be interchangeable, but this is far from the case. In many instances, when talking to people about hiring a 

CFO, the most common question is “Can’t I just have my accountant do this?” Seasoned business leaders know that the value each of these functions brings to the table is quite different, especially in how they contribute to boosting the business machine's success.

Whether you run a small or medium-sized business and think you need a CFO or you haven't thought much about it yet, you need to understand the difference between a CFO and an accountant.

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The History of Outsourced CFOs

pencil Posted by Richard Veltre on May 3, 2017

In 2009, the book Technology Entrepreneurship: Creating, Capturing, and Protecting Value made a case for what it called ‘virtual CFOs.’ While the book focused on technology startups, its advice could apply to any new or small business.

Startups and small businesses often don’t have the budget to hire a full-time CFO; a virtual CFO, therefore, serves as a stand-in for a full-time employee. In the book, virtual CFOs didn’t work on premise but rather used tools like Skype to consult with their clients.

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Is My Business Ready for an Outsourced CFO?

pencil Posted by Richard Veltre on April 20, 2017

When you need financial solutions, you need them quickly. Even the slightest variance in your numbers can lead to an external audit, loss of public trust, or interdepartmental friction.

In these cases, you’ll find that sometimes the most effective solutions aren't in-house, especially in the delicate case of a company's financial integrity.

That's when you should ask, "Is my business ready for an outsourced CFO?"

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3 Common Misconceptions about Outsourced CFOs

pencil Posted by Richard Veltre on April 4, 2017

Businesses don’t always have CFOs, often because they either don’t need a full-time CFO quite yet, they’re in a CFO transition, or can’t afford a full-time CFO. Any business, however, can benefit from a CFO’s abilities. A recent trend – outsourced CFOs – has surfaced to address this issue and involves hiring a CFO on a part-time, temporary, or need/project-based basis. For business owners, an outsourced CFO can offer many things: preparation for an audit, strategic financial advice, minimizing tax liability, cash flow consultation, and more.

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What’s a KPI and Why Should I Care?

pencil Posted by Richard Veltre on February 23, 2017

Entrepreneurs and small business owners crave information. Their company’s survival may depend on their knowledge of certain operational and financial data specific to their company and possibly their company’s industry. As the company grows, the owners are looking for more and more business intelligence as new challenges arise, and every piece of information must be viewed two ways.

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What is an Outsourced CFO’s Role in the Business Lifecycle?

pencil Posted by Richard Veltre on February 9, 2017

This question has been asked many times and answered in many ways. Clever answers. Funny answers. Authoritative or scholarly answers. But no matter how the question was answered, it was always with an understanding of the predictable habits of a small business owner and included a reminder of the following advice:

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Tax Return Due Date Changes In Effect

pencil Posted by Richard Veltre on January 10, 2017

On July 31, 2015, President Obama signed into law P.L. 114-41, the “Surface Transportation and Veterans Health Care Choice Improvement Act of 2015.” Although this new law was primarily designed as a 3-month stopgap extension of the Highway Trust Fund and related measures, it includes a number of important tax provisions, including revised due dates for partnership and C corporation returns and revised extended due dates for some returns. This letter provides an overview of these provisions, which may have an impact on you, your family, or your business.

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IRS Delay Shortens Filing Time and Slows Refunds

pencil Posted by Richard Veltre on October 27, 2013

Written By Shawn Hessinger, Published in Small Business Trends

If you thought the impact of the recent government shutdown on U.S. businesses was over, well, think again. The Internal Revenue Service announced this week it would delay acceptance and processing of tax filings from January 21 to between January 28 and February 4.

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Harbour Rock Opens a New Jersey Office for Outsourced CFO Services

pencil Posted by Richard Veltre on October 8, 2013


The office has all the technological advances that have come to be synonymous with the services provided by Harbour Rock.  And the comfortable atmosphere and facilities make it perfect for meetings and seminars, regardless of the number of participants.

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