Monthly Archives: September 2013

How To Outsource A CFO That Is Qualified

Posted on by

hageman resigns, time to outsource a cfo? In the Netherlands recently, a Telecom firm was left in a bind when their CFO resigned abruptly due to personal reasons. This is not a position that’s easy to fill, and Royal KPN NV stated that their former CFO, Eric Hageman had helped them significantly in raising 3 billion euros and in striking a deal to sell the firm’s German arm E-Plus to Telefonica out of Spain.

With this glaring gap in management, another company is moving in attempt at a possibly hostile takeover. Royal KPN NV really needs to outsource a CFO, and quickly.

This situation is a shining example of how things can change in just the blink of an eye. If you find yourself in need of a CFO like Royal KPN NV, you may want to consider a new strategy for finding one.

Outsourcing a CFO can help your business save thousands, if not hundreds of thousands of dollars. This valuable person can help to:

  • Improve cash flow
  • Improve profits
  • Increase the value of your company
  • Improve financial reporting
  • Improve your business plan
  • Uncover fraud and possible financial issues

So if outsourcing is your best option, how do you outsource a CFO who is highly qualified for your specific business?

You’ll want a qualified professional who has the extensive expertise required on the accounting, process, and tax knowledge needed to steer a company’s finances. The CFO should also be able to take a leading role in the business by organizing structure, reporting and processes that will result in the excellence of the organization.

When you outsource a CFO, that person will also have to be someone who can be trusted to make the very best financial decisions and handle privileged information. Such an important position can be a huge factor for helping your business to achieve its goals and more.

Finding the right CFO can seem like locating a needle in a haystack, but your best option is to call the experts at GoodAccountants.com, with access to the top outsourced CFOs available nationwide. The very best candidates with the qualifications specific to your requirements will be made available to you at no cost or obligation whatsoever.

Why You Must Find an Accountant to Create a Successful Franchise

Posted on by

Starting a franchise can be an exciting venture, but one of the biggest factors for failure is franchisees who don’t understand the financial side of things. While you may have an understanding of how to work with figures, there’s a lot more to it than that. Most franchisees don’t understand the terms and language that accountants are familiar with, not to mention all of the complicated tax regulations. A one-time course in accounting doesn’t cut it either.

In order to have the best odds for creating a successful franchise, it’s essential to find an accountant who specializes in a franchise business. Accountants often specialize in certain industries; they are well aware of all of the ins and outs in regard to the financial side of the industry and can be a trusted adviser in helping you and your franchise achieve and exceed your goals.

Accounting experts with industry experience can save you time, money, and help clear up any confusing when it comes to managing finances and prevent you from making detrimental mistakes that can lead to business failure. They can help you to manage cash flow as well as plan for growth, assess risk and much more. The long term strategic advice provided can be invaluable, including such things as budgeting and forecastingfind an accountant with goodaccountants.com or franchise startup advice.

So how do you find an accountant who is the most qualified for your franchise? You can do it the hard way and speak to other businesses and colleagues to gather a list of candidates, or place an ad; of course you’ll have to then schedule an in-depth interview and conduct extensive reference checks.

To find an accountant that has the knowledge of your particular type of franchise can seem rather overwhelming as the time it takes can be time you don’t often have.

Fortunately, you have another option. Just by calling the consultants at GoodAccountants.com, you’ll be matched with the most qualified accounts that are ideal for the needs of your type of franchise. There is no cost for this valuable service, saving you time, headaches and the stress it takes to locate this often-elusive candidate on your own.

How Accountants for Small Business Can Help You Survive IRS Troubles

Posted on by

small business accountants can save you from the irsAfter discovering about $450 billion is likely owed and going uncollected, with under-reporting by small business accounting for about $140 billion of that figure, the IRS has been cracking down on small businesses. Since the fall of 2012, the Internal Revenue Service has reportedly sent out letters to some 20,000 small businesses to notify them of possible income under-reporting.

In this case, they are trying to nab businesses they believe have an unusually high number of reported sales through credit card transactions, with the thinking that they are getting a lot of cash transactions that aren’t being reported. It is likely that the IRS will also come up with other methods to go after small businesses to make up for the billions of missing revenue.

The IRS is not an organization that any business, or individual, wants to have to deal with. But if you should get a similar letter, utilizing accountants for small business can be essential to positively dealing with the situation and coming out on top.

Experienced accountants for small business understand exactly what the IRS is looking for and why. If you receive a letter, or are audited, you need an accountant on your side. An accounting expert specializing in a business like yours can help you respond appropriately or represent you in the audit.

If you’ve been handling all of the financial aspects of your business, you’re probably feeling overwhelmed; keeping all of the records straight and ensuring that you’re following all of the IRS rules and regulations is a full-time job of its own.

While you may be pulling your hair out at this point, there is some good news. Fortunately, GoodAccountants.com can help you to find the best accountants for small businesses to ensure your taxes and any IRS issues are handled correctly.

Finding an expert accountant now can also help you be better prepared in the future. The right individual is much more than just a tax preparer, but can also become a trusted advisor helping you to manage cash flow, keep your books in order and plan for growth. This will allow you to take care of your most urgent responsibilities such as earning money for your company, while leaving the majority of the financial paperwork and IRS dealings in the hands of an experienced, qualified accounting professional.

Potential Big Changes Coming for Every Auditing Firm

Posted on by

auditing firmNew rules that are being proposed by the Public Company Accounting Oversight Board will likely result in a major overhaul of company audits. The board wants accounting firms to start including a potentially large amount of new information in the audit report that is attached to a company’s annual report.

It is said that their proposal is one of the most ambitious to date. The board was set up a decade ago in light of accounting scandals at large companies which revealed serious shortcomings at auditing firms.

As part of the proposal, it would require auditors to communicate details of the difficult parts of the audit, with many situations, especially with large corporations, where the auditor may find the task quite nettlesome.

Requiring this extra information may draw opposition from some auditors due to the added expenses. Some believe it provides a better opportunity to communicate more information, with auditors and audit firms providing greater value for investors and users of financial statements.

This also means that the public and investors will have better insight as to exactly what is going on inside of a company. The proposed changes would certainly mean a bit more work for auditors; companies may look at things a little bit differently before making certain financial decisions as well.

Having a qualified auditing firm on your side may be more important than ever. To find the best for your business, it’s essential to pinpoint your exact needs to eliminate those you don’t want to work with. For example, do you need a firm that can provide a specific type of service or that provides a more comprehensive package of services? Consider your particular budget and whether or not the firm has industry experience.

Don’t seek an auditing firm out of the yellow pages. You might consider contacting other businesses within your industry or professional organizations such as the American Institute of Public Accountants to see who they might recommend. You’ll then need to put together a list of potential firms and contact each to find out their fees and services.

The quickest route to finding a qualified, reputable auditing firm is to contact the consultants at GoodAccountants.com you can locate the one that is right for you with no financial cost or obligation.

The Importance of Hiring Quality Bookkeeping Services

Posted on by

Bookkeeping mishaps can cost millions. New York City’s 911 systembookkeeping services you can rely on from goodaccountants.com was revamped, with an audit discovering significant overpayments and the ultimate accounting nightmare. The audit found that poor bookkeeping may have cost taxpayers up to $24 million.

Can you imagine the impact errors like these could have on a small business?

A mistake like that could easily shut down many businesses.

Some business owners mistakenly ask their receptionist or another staff member without the necessary expertise to handle the books, in an effort to save money.  But this is often a big mistake that costs more in the long run. Utilizing highly qualified bookkeeping services such as those you’ll find through GoodAccountants.com will actually help you save money over time and avoid financial disaster like the situation in the Big Apple.

Without the right background and experience, even the sharpest employee on staff is far more likely to make errors that may not be apparent until it’s too late.

Using high quality bookkeeping services will ensure that when a bill arrives, not only is it paid on time, but the invoice is accurate; the auditors in the case above found that Hewlett-Packard invoiced the city for more hours than what was approved in time sheets and even charged $192 per hour for menial tasks, such as opening a door for visitors. This is something that a good bookkeeper would catch immediately.

Meticulous bookkeeping services will also help you to make sure your customers aren’t paying late, keep accurate records, save you money by helping you to avoid late payments and other fees, potentially save thousands of dollars to the IRS that can be incurred due to poor record keeping, and much more. This will also help you to discover where costs can be reduced. Bookkeepers are able to analyze to look for savings and find lower overhead costs for insurance and other expenses, or even ensure that tax breaks aren’t missed.

If you aren’t sure how to find the most qualified experts, all you need to do is contact the consultants at GoodAccountants.com. The service comes at no cost to you, and you’ll have the peace of mind knowing you’re getting the best bookkeeping services for your business.