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Guide to Fractional CFO Services

CFOโ€™s Small Business Financial Report Guide

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Navigating Item 19: Strategies for Boosting Your Franchise Sales

There’s an old adage that the worst presentation is the one that’s never given. This seems to be a mantra many franchisors apply to the presenting financial data in their Item 19 disclosure in their Franchise Disclosure Document (FDD). Too often, franchisors rush to publish an Item 19, despite results that might not be as

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Small Business Accounting in 2024: Outsourcing and Tech Strategies to Beat the Shortage

In the rapidly evolving landscape of small business entrepreneurship, a concerning trend around the accounting profession has emerged. The lack of accounting talent available signals potential challenges ahead for small business owners. A recent report from the American Institute of CPAs reveals a sharp decline in students earning U.S. post-secondary accounting degrees. In the 2021-22

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AI In Accounting and Finance

In the dynamic world of small business, the emergence of AI within accounting and finance could revolutionize how owners manage and strategize financial operations. As a small business CFO, navigating this new terrain of AI-driven financial management can be both exhilarating and challenging. ย However, while the potential is intriguing and exciting, AI solutions currently fall

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Keys To Succesful Franchise Coaching

When it comes to franchise support, there are two areas where I see franchisors fail to meet their franchisee’s needs.  These observations come from working with franchise systems of all sizes.  I work with clients starting up with a couple of units to those with as many as 200 units. I was a franchisor in

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Selling Franchisees Isn’t the Golden Ticket but Coaching Is

Most franchisors come to learn that they donโ€™t make money from selling franchises.  After selling and training costs are deducted from the initial franchise fee, there is often little left over. What franchisors learn is the path to lasting wealth in franchising is paved with the steady flow of recurring royalties. There are so few

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Setting Standards: Business Models vs. Budgets vs. Forecasting

As an outsourced CFO serving 12-15 different businesses, I’ve delved deep into the realm of budgeting and forecasting. Over time, I’ve come to believe that traditional budgeting has taken a backseat, with rolling 12-month forecasts becoming the preferred financial tool for businesses. This tool not only provides future insights but also sets a standard for

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Mid-Year Financial Goals Check: Reviewing Budget vs Actualย 

Just about every business has goals, whether they’re informal targets or the product of a more formal plan. But just as important as setting the right goals is monitoring your organization’s progress, including a comparison of budget vs actual revenue and expenses.  Let’s look closer at how to properly conduct these vital reviews and why

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financial planning and forecasting

Advantages of Financial Planning and Forecasting

Financial planning and forecasting play a crucial role in the success and growth of any business. By utilizing these strategic tools, businesses can gain valuable insights into their financial future and make informed decisions.  In this blog post, we will explore the numerous benefits of financial planning and forecasting, demonstrating why they are essential for

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Accounting Software to Save Small Business Owner Time

In today’s fast-paced business world, time is of the essence. For small business owners, managing accounting tasks can be time-consuming and overwhelming. However, with the right tools and accounting software add-ons, owners can streamline their financial processes and save valuable time. Most small business owners don’t spend enough time with their small business accounting software

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How to Implement Business Tax Planning Strategies Year Round

Implementing effective business tax planning strategies is crucial for any company, but leaving tax planning until the end of the year can create stress and cause you to miss out on savings opportunities, which is why you should be focusing on it all year round. In this article, we will look at the advantages of

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Using Agile Methods in Small Business Finance and Accounting

In May of 2022 I attended a CFO conference put on by the American Institute of Certified Public Accountants.  As is often the case, there are 3 to 4 themes that emerge throughout the week. At this particular conference, one of those themes was the use of agile methodologies in finance and accounting departments.  At

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