COMMONLY ASKED QUESTIONS
The term "Fractional CFO" is used to describe a Financial Professional who provides CFO Services to a company on a part-time basis. This type of professional can also be referred to as a "Contract CFO" of a "Part-Time CFO." A Fractional CFO is an independent contractor who works closely with the management team and provides the financial clarity needed to make sound business decisions.
How does a company work with Fractional CFO?
A Fractional CFO will initially meet with the owners or top management of a company to determine the financial information needs of the company. An estimated amount of time will be determined based on the objectives of management. The CFO will then dedicate this time monthly to the company, either on or off site, as needed. The Fractional CFO will interface with all employees involved in the financial aspects of a company as an on staff CFO would.
What are the advantages of working with a Fractional CFO?
A Fractional CFO is generally a much less expensive option to having a professional of this level on staff. Additionally, their broad range of experience can be a real asset to companies. Another big advantage is that they bring a 3rd party perspective to your company. They generally see things an employee would not and can provide valuable consulting to the business owner.
Does the Fractional CFO handle the corporate tax returns?
Generally, the Fractional CFO will organize the company's financials for an outside accounting firm. Their attention to detail will reduce the amount of time the Tax Accountant will spend on the returns and can reduce the overall cost of tax preparation. Further, a Fractional CFO can advise throughout the year on tax issues to allow the company to make decisions that reduce tax liability at tax time.
FRACTIONAL CFO SERVICES I CALL 704.756.4644
CALL US AT: 704.756.4644 I EMAIL US
Hi-level Strategy/Business Management • Regular Financial Reporting Forecasting
Interpretation Of Complex Information Making It Understandable To The Business Owner
Advisor in IT, Taxes, Banking, Legal and Insurance.
Copyright © Lighthouse Financial Consulting. All rights reserved