Government Contractor CFO Services - Cashflow Management IRead More
DCAA Compliance Blog
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ReliAscent® LLC is the only government contract accounting firm that specializes in all aspects of government contracting compliance. From our DCAA compliant accounting services, to monthly government contract accounting for all government agency awards, contract management & administration, and financial services & planning, our goal is to ensure the success of our clients, and all small business government contractors and grantees.
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Government Contractor CFO services – Risk Management IRead More
David Letterman has a popular segment every night on his show of the day's Top Ten list. Most of the time it is a funny look at some current event, like the Top Ten things a President might say in a particular situation. I like the issue of a Top Ten list related to sports. You always strive to be in the Top Ten to get noticed for being the best. Many businesses also use a Top Ten list to show prospects some of the best reasons that you might want to use that business. Whatever the source, I think most people are familiar with the Top Ten concept. So I thought today we might use that concept to identify the Top Ten Signs that your small business would be in need of a Chief Financial Officer. It is a lighthearted way to look at a serious topic.
Last week we talked about the top reasons a government contractor needs to outsource their CFO function. I think it is prudent to step back and look at why a small business needs a Chief Financial Officer to begin with. What does a CFO do that an accountant doesn't do? Why would a small business need a CFO if they have already contracted to have their books kept up to speed meeting GAAP, FAR and other regulations? These are good questions and not always obvious to answer.
A few years ago we wrote a blog about the importance of a CFO in a small business. Most small businesses either think they don't need one or that they can do it themselves. I think this topic is important enough to re-do the blog on the CFO.