Outsourced Accounting and CFO Services
Almost all small businesses in America operate on a cash basis (inflows and outflows) reporting method. Cash basis reporting works very well for the 10 person entity and is incredibly helpful in the days of an early startup when cash is tight and the entity is still trying to survive day to day. This method is the same method that 99% of small businesses are utilizing and therefore everyone is on the same platform.
But, there are some organizations that are not trying to be average and they are working to compete on new levels. They are looking to go beyond their local marketplace and they are seeking to begin competing with industry leaders. Unfortunately, cash basis reporting will ultimately limit their ability to clearly evaluate their company and they will not have the competitive strength to compete on the new levels they desire. In addition, most small business owners do not understand reporting frameworks beyond cash basis reporting and cannot create the competitive advantage they desire on their own.
We believe that accrual basis reporting, accrual-based ratio analysis, accrual-based KPD’s, KPI’s, and entry level CFO services can create the competitive advantage most small businesses need to begin performing at higher levels. In addition, we believe in teaching owners and their teams the advantages of accrual basis reporting and assisting them in becoming “future-ready” finance teams.