Why Trust is not an Internal Control

pencil Posted by Richard Veltre on May 21, 2019

Not too long ago, I did a follow up call with a former client; just to see how they were doing. I found out that both their CFO and their COO had resigned. I thought, "Wow! How amazing was that timing? I made a phone call right at the time when we might be able to help!" The client agreed to re-engage us and I went to my first meeting. And right away we got hit with the bombshell: "Something is not right with the books; we think the CFO left with some money." Now we're doing a fraud investigation.  So much for helping...


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Why Do Small Business Owners Treat Accounting Systems Like Toothpaste?

pencil Posted by Richard Veltre on February 19, 2018

I had an epiphany this morning. I woke up early, started my routine, and - like many of my fellow business owners - immediately started thinking about things I needed to get done today. I believe I start thinking about work tasks so early to temporarily forget about the one part of my morning routine I dread: oral hygiene. I don't dread it because I have hygienic issues; I dread it because I feel like if I spend 5 minutes, my dentist would say I should have spent 10; 20 minutes should have been 30. Childish? Maybe. (But I digress.)


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3 Signs It's Time to Use Outsourced Accounting Services

pencil Posted by Richard Veltre on November 7, 2017

Running the financial and accounting aspects of a growing business takes time and effort, and at some point, it’s likely that it will become a bigger task than you can handle on your own.

When that time comes, trying to “make it work” without making any changes does your business an injustice – cutting corners and rushing through the job to get it done is not how successful businesses run their finance departments.


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Should Your Company Use Outsourced Accounting Services?

pencil Posted by Richard Veltre on November 2, 2017

Every company has financial needs and requires a way to handle them. Many companies do so with an in-house accounting team, but some companies can’t afford – monetarily or resource-wise – an in-house accounting team. If your company is making a transition, is a startup, or is looking for ways to reduce costs, there’s an option that’s not an in-house accounting team.

It’s outsourced accounting services.


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Controllers vs CFOs: What You Should Know

pencil Posted by Richard Veltre on October 24, 2017

There are two financial leadership roles in business: controllers and CFOs. They have very different jobs and are not interchangeable; although both typically have an accounting background and may begin their careers as accountants, CFOs need a much broader skill set.

The difference between controllers and CFOs is primarily that of perspective. Controllers focus on compliance and historical record keeping (i.e., tactics), whereas CFOs focus on planning and future performance (i.e., strategy).

Here’s the scoop on controllers vs CFOs:


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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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Role of Management Accountants

pencil Posted by Richard Veltre on October 8, 2013

Management accountants are trusted to guide critical business decisions and drive strong business performance.

They combine financial expertise and business acumen to achieve sustainable business success. They understand how the different parts of the business need to come together.

 

Click here to see the full report: Role Of Management Accounting


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