How Much Financial Data is Too Much Financial Data?

How Much Financial Data is Too Much Financial Data?This week’s article is by Mark S. Becker, Partner, CFO Edge, LLC.

Charged with delivering financial information to management, a finance team can sometimes provide too much data with negative impacts in many areas.

When management receives too much financial data, it’s challenging to identify that data which is most important and actionable.

There are also added time requirements for gathering and reporting high volumes of data, activities that can increase costs and call for excessive staffing.

Reviewed in this week’s full PDF…

How Much Financial Data is Too Much Financial Data?

… is how the right financial data balance prioritizes delivery by relative importance, actionable nature and alignment with strategic goals.

Los Angeles and Southern California executives can feel they are receiving large volumes of financial data that isn’t helping them make better decisions.

A conversation with a provider of outsourced CFO services can be of significant benefit as a former enterprise CFO reviews management data needs, current reporting and current systems, as well as recommends improved reporting formats and processes.

The outcome: management receives the right financial information needed to act in areas that are critical to boosting results, improving efficiencies and reducing costs.

Posted in Accounting Systems Design, CFO Services, Financial Communication, Financial Reporting, Financial Statements, Los Angeles, Management Reporting | Tagged , , , , , , , , , , | Leave a comment

Now is the Time to Prepare for New Accounting Standards

Now is the Time to Prepare for New Accounting StandardsThis week’s article is by Arthur F. Rothberg, Managing Director, CFO Edge, LLC.

Rapidly-approaching implementation dates for FASB and IASB changes in revenue recognition and lease accounting mean now is the time to prepare for new accounting standards.

Revenue Recognition Standard ASU 2014-9 is being updated to increase consistency across all industries in long-term contract revenue recognition and reporting, thereby enhancing financial statement evaluations and comparisons.

Lease Accounting Standard ASU 2016-02 is being updated to require that the present value of scheduled operating lease payments of more than one year must be reported as a liability on the balance sheet. This liability will be offset by reporting a “right-of-use” value of the asset. The increase in balance sheet debt can significantly impact financial ratios upon which debt covenants are based and make it more challenging to obtain financing.

Reviewed in the full PDF…

Now is the Time to Prepare for New Accounting Standards

…are specific steps that should be taken now to mitigate the potential negative impact of the new revenue recognition and lease accounting standards when they are implemented.

Los Angeles and Southern California executives can benefit from talking with a provider of outsourced CFO services who can review current revenue streams, accounting processes and debt covenants, as well as proactively plan a course of action to assure a smooth transition when the standards become effective.

Posted in Accounting Standards, CFO Services, Contract Negotiation, Corporate Governance, Financial Covenants, Financial Regulations, Financial Reporting, Financial Statements, Generally Accepted Accounting Principles (GAAP), Lease Accounting Changes, Los Angeles, Revenue Recognition | Tagged , , , , , , , , , , , | Leave a comment

Why You Must Keep Your Key Advisors Consistently Informed

Why You Must Keep Your Key Advisors Consistently InformedThis week’s article is by Michael K. Menerey, Partner, CFO Edge, LLC.

For small and mid-sized firms, “as needed” working relationships with their key advisors – like CPAs, attorneys and other professionals – are beneficial in that full-time positions, salaries and overhead for them are not required as they are with large corporations.

A drawback is that it’s not possible to go to one of their offices down the hall with a question or for advice, and their off-site locations can mean that they are not current on important and evolving areas of your business.

Reviewed in this week’s PDF…

Why You Must Keep Your Key Advisors Consistently Informed

…is how providing regular updates to your CPA, attorney and other professional partners on business activity brings more knowledgeable and prompt responses when you call for advice.

This proactive approach to keeping your key advisors in the loop can also generate from them new ideas and value-added guidance before problems arise.

Los Angeles and Southern California executives can realize significant benefits from including a provider of outsourced CFO sources as a key advisor.

An enterprise-grade CFO has a proven track record of collaborating successfully with outside experts and can work with you to determine what information should be shared on what schedule – and then communicate it to your trusted advisors.

Posted in Business Health & Checkup, CFO Services, Corporate Governance, Financial Strategy, Growth Strategies, Los Angeles, Professional Services Firms, Strategic Planning | Tagged , , , , , , , , , , , | Leave a comment

Why Management Reporting Is More Critical Than Ever

Why Management Reporting Is More Critical Than EverThis week’s article is by Mark S. Becker, Partner, CFO Edge, LLC.

Management reporting is more critical than ever due to the accelerated pace at which businesses, industries and markets move and change.

Incomplete, delayed or inaccurate financial reports have many high costs: poor management decision making, missed opportunities or failure to understand shifts in customer preferences.

Reviewed in this week’s PDF…

Why Management Reporting Is More Critical Than Ever

…is how finance staff can overwhelm management with data quantity, and the focus should be on actionable data quality aligned with company goals.

Management decision making improves when executives receive concise and clear reporting on critical information that can be leveraged to improve results, become more competitive and seize opportunities.

Los Angeles and Southern California executives who are not getting the information they need to make informed decisions can benefit from talking with a provider of outsourced CFO services.

An on-demand CFO applies enterprise-grade expertise to assess reporting needs and current management information systems to recommend changes in accounting and processes to improve reporting, decision making and, ultimately, performance.

Posted in CFO Services, Financial Reporting, Financial Statements, Los Angeles, Management Reporting | Tagged , , , , , , , , , , , | Leave a comment

In-Person Presentations Available for Your Team, Professional Association or Network Group

Two of our white paper topics are available for in-person presentations by one of our partners for your gatherings in Los Angeles, Orange, San Bernardino Counties.


CFO or Controller White Paper PresentationCFO or Controller: What’s Right for Your Business?
(Click here to download and read the full white paper PDF.)

Executives at growing companies may face two questions:

  • Is it time to hire a full-time leader for our financial team?
  • Should we hire a CFO or a controller?

Answers depend on factors explored in this presentation.


Performance Measurement White Paper PresentationPerformance Measurement: At the Heart of Performance Management
(Click here to download and read the full white paper PDF.)

We share a clear path for acting on Peter Drucker’s axiom, “You can only manage what you can measure.”

Included are looks at what performance measurement is; how to identify KPIs and critical success factors; how to report via dashboards and balanced scorecards; and the many financial and operational benefits derived from implementing the four elements.


The presentations are accompanied by richly-illustrated PowerPoints, and all attendees receive printed copies of the full white papers.

Interested in learning more?

Please call Art Rothberg at 800.276.1750 Ext 101 or send an email to info@cfoedge.com.

Posted in Uncategorized | Leave a comment

Key Considerations in Business Planning for 2017 & Beyond

Key Considerations in Business Planning for 2017 & BeyondThis week’s article is by John W. Braine, Partner, CFO Edge, LLC.

With a new administration in Washington, likely business regulation changes have become key considerations in business planning for 2017.

For example, there may be legislation introduced that is related to business tax areas like corporate income tax, repatriation of profits, tax credits, capital investments and employee benefits.

While the current lack of clarity on what changes will be enacted generates some uncertainty, there are steps that can be taken to be better prepared for when the changes occur.

Reviewed in this week’s PDF…

Key Considerations in Business Planning for 2017 & Beyond

…are the reasons and need to adopt proactive strategies now to address possible changes in tax rates, healthcare and interest rates that impact forecasts and budgets.

Los Angeles and Southern California executives engaged in 2017 business planning can benefit from talking with a provider of outsourced CFO services.

An on-demand CFO applies enterprise-grade expertise to assess the potential impact of regulatory and economic shifts, as well as to generate what if? scenarios that drive improved decision making, budgeting and forecasting.

Posted in CFO Services, Financial Planning & Analysis (FP&A), Financial Policy, Los Angeles, Strategic Planning | Tagged , , , , , , , , , | Leave a comment

Should You Use a Professional Employer Organization?

Should You Use a Professional Employer Organization?This week’s article is by Arthur F. Rothberg, Managing Director, CFO Edge, LLC.

As you look at ways to increase the focus of your valuable resources on core competencies, an important question arises: Should you use a Professional Employer Organization?

Many small businesses and startups are not ready to budget a full-time HR director or staff, and they have moved HR functions to Professional Employer Organizations or PEOs.

Reviewed in this week’s full PDF…

Should You Use a Professional Employer Organization?

…is how companies and PEOs become co-employers: Companies hire and manage staff, while PEOs run HR functions, compliance and benefit packages that rival large-firm benefits.

These benefit packages can include the full spectrum of insurance offerings – health, life, vision, dental and disability – as well as retirement plans.

Los Angeles and Southern California executives who are looking at more efficient and cost-effective ways to operate HR can benefit from talking with a provider of outsourced CFO services.

Bringing the experience and expertise of a former enterprise chief financial officer, an on-demand CFO can work with you to identity your current staff and budget costs for HR and recommend the best strategic path.

Posted in Employee Benefits, Employee Wages & Salaries, HR Management, Outsourcing, Professional Employer Organizations | Tagged , , , , , , , , , , , , , , | Leave a comment

The Role of Finance in Creating a Customer-Centric Culture

The Role of Finance in Creating a Customer-Centric CultureThis week’s article is by John W. Braine, Partner, CFO Edge, LLC.

Grounding business actions in a deep understanding of what customers want is essential, and it’s helpful to look at the role of finance in creating a customer-centric culture.

As departments collaborate, share data and innovate, they discover customer patterns that support product and service delivery better aligned with constantly-evolving customer needs.

Reviewed in this week’s full article…

The Role of Finance in Creating a Customer-Centric Culture

…is how finance and other departments put competitiveness, market share and revenue at risk if they are not engaged in strong and rapid cross-functional innovation,

Also discussed are four process and mindset elements that need to accompany collaboration tools, as well as three benefits of committing to continuous innovation.

Los Angeles and Southern California business leaders recognize customer attraction and retention spring from a customer-centric culture and may be looking at ways to enhance their cross-department collaboration and innovation.

A conversation with an on-demand CFO services provider can be beneficial: a professional of this nature brings a successful track record working with teams to gather and analyze data, apply discoveries to generate innovative customer approaches and realize improved performance in multiple areas.

Posted in Big Data, CFO Services, Customer Service, Customer-Centric Culture, Data Mining, Financial Leadership, Growth Strategies, Los Angeles, Sales Strategies | Tagged , , , , , , , , , | Leave a comment

When Should You Consider Hiring a Part-Time CFO?

When Should You Consider Hiring a Part-Time CFO?This week’s article is by Arthur F. Rothberg, Managing Director, CFO Edge, LLC.

In this third and final article in our series on a Project CFO, an Interim CFO and a Part-Time CFO, we explore scenarios when you should consider hiring a Part-Time CFO.

While a Project CFO generally works on a specific project and an Interim CFO is usually brought in full-time when the former CFO has departed, a Part-Time CFO acts as a company’s CFO and delivers the financial leadership and expertise of a CFO – but on a part-time basis.

A Part-Time CFO can be engaged for as many days in a week or month that the company’s situation needs, and the client company receives the benefits of having a CFO on its leadership team even though the company may not yet need or have the budget for a full-time CFO.

Reviewed in this week’s full PDF…

When Should You Consider Hiring a Part-Time CFO?

…are Part-Time CFO situations, skills, focus, frequency of presence and four significant benefits of bringing in a Part-Time CFO.

Los Angeles and Southern California executives who want the high-caliber financial leadership of a CFO – without the full-time salary and overhead – can gain many positive outcomes by engaging a Part-Time CFO.

This is the third and final article in a series on the types of outsourced CFOs. Following are links to the other two articles in the series:

When Should You Consider Hiring a Project CFO?
When Should You Consider Hiring an Interim CFO?
When Should You Consider Hiring a Part-Time CFO? – (This article.)

Posted in CFO Services, Financial Leadership, Interim CFO, Los Angeles, Part-Time CFO, Project CFO | Tagged , , , , , , , , , , , , , | Leave a comment

When Should You Consider Hiring an Interim CFO?

When Should You Consider Hiring an Interim CFO?This week’s article is by Howard Goldman, Partner, CFO Edge, LLC.

In this second article in our series on scenarios and benefits of a Project CFO, an Interim CFO and a Part-Time CFO, we explore situations when you should consider hiring an Interim CFO.

While a Project CFO tends to focus on a clearly-defined project, an Interim CFO (sometimes also referred to as a Temporary CFO) is frequently engaged when a sitting CFO has left the organization or when a sitting CFO needs additional high-level financial expertise or bandwidth to help the organization complete a significant event or transaction.

Reviewed in this week’s full PDF…

When Should You Consider Hiring an Interim CFO?

…are Interim CFO descriptors for skill sets, focus and duration of presence, as well as the benefits of bringing in an Interim CFO.

A former enterprise CFO acting in the role of an Interim CFO or Temporary CFO brings both high-caliber financial leadership skills and authoritative financial solution expertise.

An Interim CFO can provide financial and operational guidance to the executive management team; communicate with investors, lenders, vendors and other stakeholders; and assist in recruiting and training the new full-time CFO.

Los Angeles and Southern California executives who are looking at the best way to maintain continuity in financial leadership after the departure of a CFO can realize significant benefits by bringing in an Interim CFO.

This is the second in a series of three articles on the types of outsourced CFOs. Following are links to the other two articles in the series:

When Should You Consider Hiring a Project CFO?
When Should You Consider Hiring an Interim CFO? – (This article.)
When Should You Consider Hiring a Part-Time CFO?

Posted in CFO Services, Financial Leadership, Interim CFO, Leveraging CFO Expertise, Los Angeles, Part-Time CFO, Project CFO | Tagged , , , , , , , , , , , , , , , | Leave a comment