The Definition of Success – Having to Hire a CFO to Manage Finances

A small business owner is usually a lone entrepreneur who starts a company on a dream, sweat, tears and hard found money. Then it takes a dream, sweat and tears to use that hard found money to invest in the business and make it turn a profit. Once the business finds some equilibrium and starts making money, this may be the time for the business owner to examine the complexities of success. It is probably time to seek small business financial help by hiring a CFO or a Chief Financial Officer.

Once a small business passes over the threshold of making money, becoming successful and sustaining a position in the black, it is time to turn over the financials to a professional who can handle all revenue and expenses and provide accurate and timely taxes to the IRS, get bills paid on time and prepare budgets and business plans. By this time, it is important for the business owner to focus on marketing for more business and it is the CFO’s responsibility to keep an eye on cash flow, profits and expenditures. Meanwhile, the CFO can assist the CEO in tracking investments so that the return is profitable. And what about financial statements? In many cases, the CEO is happy that at last, someone else will take care of a daunting task.

Reporting and paying taxes is crucial to small business financial help from a CFO who monitors and manages a company’s finances. Having accurate and timely financial and accounting information facilitates making better management decisions for expansion, obtaining loans, forecasting profitable growth and keeping the company in check.

Can a small business afford to pay a full time CFO? In most cases, the answer is no. CFOs are generously rewarded for their expertise and hard work and the salary reflects their qualifications and capabilities. But there are CFOs that act as a contractor/consultant on a part time basis. Instead of reporting to the office every day, a part time CFO will provide reports, statements and monitor the company’s fiscal health a few days a week or a few weeks a month.

When small business financial help comes in the form of a CFO, think of it as a gift rather than an expense. A CFO brings a level of achievement to move your company from one level to the next one. Along with the CFO’s cache, a high level of integrity, confidentiality and great service will navigate your company to success. The CFO understands how to guide your company through the financial and administrative maze for making educated and informed decisions.

It is the CFO who can help steer the business through any financial crisis. It is the CFO who sounds a warning when there is the slightest hint of a treacherous iceberg blocking the path of success and profitability. When hiring a CFO, the business owner must place all trust in the hands of an expert to achieve internal operating goals, maintain business integrity, making it work.

Article Source: http://EzineArticles.com/3315646

Our approach is to provide a definitive yet thorough assessment allowing you, and your company, to consider a broad overview of alternatives to manage the challenges and enhance the performance of your business.

In short, we identify opportunities, work with you and your organization, and enable you to take advantage of business potential and growth. The move to part time, on call, and virtual services has become more accepted in the business world over the past few years. For a fraction of the cost of a full time employee, a small business can have the Controller / CFO function filled by an experienced professional.

We are headquartered in the Tampa Bay area; a portion of our work is handled remotely, yet, we are able to talk, meet, and work with you on a regular periodic basis.

PETER DESMIDT has more than 48 years of accounting, cost accounting, and systems implementation (including QuickBooks, Intuit, Enterprise, Passport, RealWorld, Peachtree, Great Plains, Dynamics, Sage, Direct Systems, SouthWare, ACCPAC, and Computer Associates software) experience, as well as management positions with companies like Atlantic Richfield, Signode, Norlin Industries and R.R. Donnelley and Sons. Peter DeSmidt’s specific experience is as a CFO, Controller, Accounting Manager and Advisory Consultant. He holds a BA Degree majoring in Accounting and an MBA Degree majoring in Accounting and Computer Science. As we are a small business ourselves, we understand what it takes to get a small company off the ground and on the right track.

Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

We provide part-time offsite and onsite Controller, CFO, Accounting, Cost Accounting, Forecasting, Inventory Management, Cost Control, QuickBooks Problem Solving, and QuickBooks Training Services to small and medium sized businesses.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Contact us to learn more about how our CFO and Controller Services may be able to help your business.

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QuickBooks Training – Do You Need It?

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By M. J. Hultquist

QuickBooks training comes in all shapes and sizes. You have books you can purchase and learn QuickBooks. You have classroom setting classes you can take that usually last 8 hours or more. You even have online courses you can take to learn QuickBooks.

But do you really need QuickBooks training?

To answer this question, you need to figure out first what you need it for.

There are generally 2 types of people who look for this training – small business owners and people looking for a job. In the first group, small business owners, they need QuickBooks training if they either plan on doing their own bookkeeping in QuickBooks or if they simply want to understand what their accountant is doing each month. By doing their own books, they can generally get a better feel for their business so that they can make more informed decisions. They also will save a few thousand dollars a year by doing it themselves instead of having an accountant do it for them.

But they have to make sure they actually get some QuickBooks instruction, or they could end up seriously screwing up their books.

Small business owners could also learn how to use QuickBooks if they simply want to understand what their accountant is doing each month. This will help them have a much better understanding of the ebbs and flows of their cash cycle.

The other people who look for QuickBooks training are people searching for a job. In this day and age, many employers, especially small businesses, look for people with experience using QuickBooks. More and more this is becoming a requirement for certain positions, and people simply do not have the proper training. As a result, to get a job or to even get a higher paying job, people trying to get a job that requires QuickBooks should take some sort of QuickBooks training.

So, the answer of whether or not you need QuickBooks training really depends on what you might need it for. After you make this determination, you can then decide which format for the training makes sense.

Learning from a book is generally not recommended because you have no one to ask questions or give you feedback. A classroom setting can be OK, however, you typically have set times you have to be there and they are generally fairly expensive. Also, if you do go this route, you have to make sure you can practice along in front of a computer to get the hands on experience.

The final option would be to get QuickBooks training through online video tutorials. These are generally less expensive than the classroom setting and are much more flexible as you can learn at any time that it is convenient for you.

Article Source: http://EzineArticles.com/?expert=M._J._Hultquist

We provide offsite and onsite individual and small group QuickBooks Problem Solving, Training, Inventory, Accounting and Bookkeeping Training to individuals and small and medium sized businesses.

Ask us for help.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

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About Virtual Part-Time Controller Services

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By Lisa Khayyat

If you want to stay on top of your finances, but do not want to hire a full time controller – why not consider a “Virtual Controller”? A virtual controller performs most, if not all, of their services online. They can provide basic services to more advanced services. Services are negotiated up front depending upon the client organizations specific requirements.

A Virtual Controller can provide management valuable financial oversight, advice and customized financial reports that provide real value to their businesses decision making. Business owners can focus their attention on growing their businesses and achieving their operational objectives.

Here are some of the ways that a Virtual Controller can assist your business:

1. Guide you through the start up process and assist in getting your accounting system set up correctly in QuickBooks.

2. Train your bookkeeper, accountant, or other assistant in the proper accounting procedures for your particular business.

3. Work with your bookkeeper or accountant on a monthly basis to ensure that transactions are recorded correctly and records are kept up to date. (The virtual controller Is also available to assist the bookkeeper if problems should arise.)

4. Offer guidance in the budget planning process and provide guidance on budget-to-actual analysis.

5. Discuss project or department profitability on a monthly or quarterly basis.

6. Prepare fixed asset depreciation schedules on all equipment and keep the list current with new purchases.

7. Teleconferences scheduled monthly or quarterly with management to discuss results of operation as well as other business decision making issues as necessary.

8. Provide tax planning strategies to business owners.

9. Individual & Business Income tax preparation.

10. Documentation of Policies & Procedures.

11. Assist with the acquisition of a business. (due diligence)

12. Assist in exit planning or the sale of a business.

The move to virtual controller services has become more accepted in the business world over the past few years. And for a fraction of the cost of a full time employee, a small business can have the Controller function filled by an experienced professional.

Article Source: http://EzineArticles.com/expert/Lisa_Khayyat/482056
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Our approach is to provide a definitive yet thorough assessment allowing you, and your company, to consider a broad overview of alternatives to manage the challenges and enhance the performance of your business.

In short, we identify opportunities, work with you and your organization, and enable you to take advantage of business potential and growth. The move to part time, on call, and virtual services has become more accepted in the business world over the past few years. For a fraction of the cost of a full time employee, a small business can have the Controller / CFO function filled by an experienced professional.

We are headquartered in the Tampa Bay area; a portion of our work is handled remotely, yet, we are able to talk, meet, and work with you on a regular periodic basis.

PETER DESMIDT has more than 48 years of accounting, cost accounting, and systems implementation (including QuickBooks, Intuit, Enterprise, Passport, RealWorld, Peachtree, Great Plains, Dynamics, Sage, Direct Systems, SouthWare, ACCPAC, and Computer Associates software) experience, as well as management positions with companies like Atlantic Richfield, Signode, Norlin Industries and R.R. Donnelley and Sons. Peter DeSmidt’s specific experience is as a CFO, Controller, Accounting Manager and Advisory Consultant. He holds a BA Degree majoring in Accounting and an MBA Degree majoring in Accounting and Computer Science. As we are a small business ourselves, we understand what it takes to get a small company off the ground and on the right track.

Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

Ask us for help.

We provide part-time offsite and onsite Controller, CFO, Accounting, Cost Accounting, Forecasting, Inventory Management, Cost Control, QuickBooks Problem Solving, and QuickBooks Training Services to small and medium sized businesses.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Contact us to learn more about how our CFO and Controller Services may be able to help your business.

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Part Time CFO And Controller Services – 5 Ways Outsourcing Can Change Your Business

By Terry L Mickelson

Small companies often face similar financial challenges to those of larger companies. Many reach a point in company growth where the expertise of a financial professional is needed, but are unable to afford a full-time CFO. With a part-time CFO, you receive the benefits of financial help at a much smaller financial commitment than hiring another full-time employee. Along with saving both time and money, you’ll be able to focus on where your company needs you most. A part-time CFO can help you:

1. Receive accurate financial information. Many companies’ financial statements are filled with incomplete or inaccurate data, making it almost impossible for business owners to choose right for their business. A part-time CFO uses up-to-date accounting standards, giving you the key profitability information needed to make vital decisions for your business.

2. Spend more time with customers. Spending time with current and future customers is not just a luxury; it is essential for a profitable business. If you are not spending time with your customers now, then your competition is. By taking care of HR functions and accounting; a part-time CFO can free needed time so you can focus more on your customers and growing your business.

3. Get more money from banks or vendors. Banks and vendors are looking for financial statements that follow correct accounting standards, look professional and highlight key information. Create the professional financial statements you need to improve your company image and receive better terms with banks and vendors.

4. Discourage employee dishonesty. Many business owners have been shocked to learn how much stealing can go on within a company. There are many different types of theft such as; theft of money, customer lists, inventory and more. A part-time CFO can help discourage theft by establishing control and keeping you more aware of what going on inside your company.

5. Manage your cash flow properly. Lack of planning can often cause unpleasant cash flow surprises. Don’t address only the ‘squeaky wheel’, or let your company only ‘exist’ from month to month. By correct planning, using cash flow management solutions and securing needed financing, many cash flow issues can be reduced or even eliminated.

All companies face large challenges, but with the help of a part-time CFO big obstacles such as getting more money from banks and receiving accurate company data can be simplified and handled properly. By aiding in better cash flow management, discouraging employee dishonesty and freeing more time to spend with customers; CFO services can help your company succeed.

Article Source: http://EzineArticles.com/1678331
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Our approach is to provide a definitive yet thorough assessment allowing you, and your company, to consider a broad overview of alternatives to manage the challenges and enhance the performance of your business.

In short, we identify opportunities, work with you and your organization, and enable you to take advantage of business potential and growth. The move to part time, on call, and virtual services has become more accepted in the business world over the past few years. For a fraction of the cost of a full time employee, a small business can have the Controller / CFO function filled by an experienced professional.

We are headquartered in the Tampa Bay area; a portion of our work is handled remotely, yet, we are able to talk, meet, and work with you on a regular periodic basis.

PETER DESMIDT has more than 48 years of accounting, cost accounting, and systems implementation (including QuickBooks, Intuit, Enterprise, Passport, RealWorld, Peachtree, Great Plains, Dynamics, Sage, Direct Systems, SouthWare, ACCPAC, and Computer Associates software) experience, as well as management positions with companies like Atlantic Richfield, Signode, Norlin Industries and R.R. Donnelley and Sons. Peter DeSmidt’s specific experience is as a CFO, Controller, Accounting Manager and Advisory Consultant. He holds a BA Degree majoring in Accounting and an MBA Degree majoring in Accounting and Computer Science. As we are a small business ourselves, we understand what it takes to get a small company off the ground and on the right track.

Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

We provide part-time offsite and onsite CFO, Controller, Accounting, Cost Accounting, Forecasting, Inventory Management, Cost Control, QuickBooks Problem Solving, and QuickBooks Training Services to small and medium sized businesses.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Contact us to inquire about our CFO and Controller Services.

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The Fractional CFO Concept

The idea of fractional or part time use of a valuable resource has been around since the 1960s. It was pioneered by the vacation real estate industry when a French ski resort owner recognized few people could afford, let alone needed a resort condominium for all 52 weeks of the year. He addressed this challenge by dividing every room into 52 separate units of time.

Using the slogan “stop renting a room, buy the hotel” he launched a worldwide marketing phenomenon we now know as the time-share industry. Units were sold to different owners, each of whom purchased the full use and enjoyment of the week that best suited their schedule, and at an affordable price. If a buyer needed more than one week a year, they bought as many units as they wanted. And while other “bells and whistles” have been added through the years, over 4 million American families now own at least one vacation timeshare.

The concept of a fractional CFO is no different. Most business leaders recognize the need for trained, experienced financial expertise on their management team. Many simply do not need a full time CFO. Therefore, they cannot cost justify the investment of a full time salary. Even if an owner or manager has the required skill sets, a professional CFO can likely generate a superior work product in less time. This in turn frees up the most valuable and scarcest resource of all, TIME!

No successful entrepreneur ever launched a business with the intent of spending all day analyzing balance sheets, determining marginal profit contribution, dealing with bankers and tax accountants or addressing regulatory inquires. They launch businesses to exploit competitive advantage in their chosen field by servicing customer needs. Any time spent “working on the books” is time away from their real mission and a costly distraction from their value proposition.

Retaining a fractional or part-time CFO or Controller presents a cost effective solution customized to a business’ exact needs, budget and life cycle. The key to a successful fractional CFO relationship is to design and staff that engagement with a professional who will understand your business and address your financial needs. They must also become an integral (if part-time) member of your management team. Your fractional CFO should meet with you to tailor an affordable program to address your specific business needs. Together, you will establish a regular schedule of dedicated time to service those needs. That schedule can vary from just a few hours per month to several days per week, and can be adjusted as future needs require. You the client can typically terminate your fractional CFO at any time and for any reason without incurring additional costs, just as you would if you had hired a full time employee.

Frequently Asked Questions
•What exactly does a CFO do, and how does that change if I use a fractional CFO?
The chief financial officer or CFO is the person primarily responsible for managing the overall financial operations of an organization. This position is responsible for planning, cash flow management, record keeping, financial reporting, etc. The only difference between a traditional CFO and a fractional CFO is the nature of their relationship to the business. While a CFO is full time officer and employee, a fractional CFO is a part-time, independent contractor. However, their duties and responsibilities are virtually identical.

•Will I retain a fractional CFO for a one-time assignment, or will they continue to provide on-going services?
Occasionally, a client will request that that their fractional CFO provides services for a one-time, special project. The CFO will likely endeavor to accommodate all client needs. However, their primary focus will be on providing on-going fractional CFO services, including the development, implementation and monitoring of a long-term business plan. While the time allotted to this process can be adjusted and even reduced as initial objectives are met over time, it is a continuous process that typically requires some effort at least monthly.

•How much should I expect to pay for my fractional CFO?
The cost of fractional CFO services are primarily determined by only two things, the number of hours spent on an account, and the billing rate of individuals providing client services. Barring temporary or emergency situations, a reputable fractional CFO firm will endeavor to staff assignments using associates with skill sets and experience appropriate to your needs. Ultimately, they will provide the level of service you determine based on your needs and within a budget determined by you. Your schedule can vary from just a few hours per month to several days per week, and can be adjusted as future needs require. Typical clients should expect to spend from $500 to several thousand dollars, per month, depending on their needs.

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Our approach is to provide a definitive yet thorough assessment allowing you, and your company, to consider a broad overview of alternatives to manage the challenges and enhance the performance of your business.

In short, we identify opportunities, work with you and your organization, and enable you to take advantage of business potential and growth. The move to part time, on call, and virtual services has become more accepted in the business world over the past few years. For a fraction of the cost of a full time employee, a small business can have the Controller / CFO function filled by an experienced professional.

We are headquartered in the Tampa Bay area; a portion of our work is handled remotely, yet, we are able to talk, meet, and work with you on a regular periodic basis.

PETER DESMIDT has more than 48 years of accounting, cost accounting, and systems implementation (including QuickBooks, Intuit, Enterprise, Passport, RealWorld, Peachtree, Great Plains, Dynamics, Sage, Direct Systems, SouthWare, ACCPAC, and Computer Associates software) experience, as well as management positions with companies like Atlantic Richfield, Signode, Norlin Industries and R.R. Donnelley and Sons. Peter DeSmidt’s specific experience is as a CFO, Controller, Accounting Manager and Advisory Consultant. He holds a BA Degree majoring in Accounting and an MBA Degree majoring in Accounting and Computer Science. As we are a small business ourselves, we understand what it takes to get a small company off the ground and on the right track.

Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

We provide part-time offsite and onsite CFO, Controller, Accounting, Cost Accounting, Forecasting, Inventory Management, Cost Control, QuickBooks Problem Solving, and QuickBooks Training Services to small and medium sized businesses.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Contact us to inquire about our CFO and Controller Services.

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The Power Of Partnering With An Advanced Certified QuickBooks ProAdvisor

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By Chris A. Harmen

Traditionally, small businesses had to rely on antiquated paper ledgers and a shoebox stuffed full of saved receipts in order to maintain proper business accounting practices. However, with the advent of modern technology, both fledgling and well-established entrepreneurs no longer need to fuss with these outdated methods. Instead, these CEO’s can turn to the latest in computer software packages that have been designed specifically to help balance the books.

QuickBooks has firmly secured its spot as a front runner resource in the accounting software market and with good reason. The tool has a diverse range of functionality that makes it an ideal application for any small business, regardless of industry or services provided. Most importantly, the software was designed to be used efficiently and effectively by virtually anyone. Whether conducting business as a computer programmer, construction contractor, caterer or personal consultant, any businessperson can learn to manage their own bookkeeping process with relative ease. However, mastering this resource can prove an overwhelming mission when first starting out. That’s why teaming up with a QuickBooks consultant can provide a powerful partnership for any business.

The Benefits Of Utilizing An Advanced Certified QuickBooks ProAdvisor

Learning the nuances and functionality of QuickBooks can initially seem a daunting endeavor. Rather than keeping the software in the box and continuing to rely on paper and pen methods, small companies now have invaluable resources available to them in the form of bookkeeping and, specifically, QuickBooks consultant firms. Reaching out to these service providers can exponentially decrease the anxiety and stress experienced when attempting to learn the various components of this application.

One of the best services offered by these firms is one-on-one training to methodically and systematically address and answer all fears, concerns and questions. This type of coaching empowers business owners to morph from frustrated and uncertain bookkeepers into capable managers of their own bottom line.

Another component to look for when seeking the assistance of a QuickBooks consultant is application customization. Not all businesses require the same fields, data entry and input when using the software. Fortunately, software programmers understand this need and have created the system to be highly customizable based on industry, function and need. However, modifying the tool can seem a little complicated to a new and unfamiliar user. Thus, working with a seasoned accounting professional to strategically tailor the program can ensure the streamlining and efficiency of any business’ specific accounting efforts.

Finally, partnering with an accounting consultant can offer a final added benefit. Learning the system and utilizing a tailored made version is only part of the partnership equation. Once fully confident and efficient with using the software to effectively balance the books, business owners will no longer spend an exorbitant amount of time calculating and recalculating monthly totals. This actually helps directly enhance the bottom line figures as the extra time saved enables these CEO’s the opportunity to focus more on revenue generation and core business activities.
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We provide part-time offsite and onsite Accounting, Cost Accounting, Inventory Management, Cost Control, QuickBooks Problem Solving, QuickBooks Training, QuickBooks Implementation, Controller and CFO Services to small and medium sized businesses.

Ask us for help.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

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Standard Cost Accounting in Determining the Estimate Versus Actual

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By Victor Viser, Ph.D.

Cost accounting in manufacturing answers the simple question: “Am I making money on this job, and if not then why not?”. Cost accounting is a bridge between financial and management accounting and is a technique used to address the demands of both. It is a systematic application that takes all events in the supply chain and translates them into financial values for analyses by various people both inside and outside the company operations. The most important results of the analyses are findings by which management can reduce manufacturing costs while improving profitability, especially in the multi-sequence operations of manufacturing. While there are several ways to approach cost accounting (e.g., activity-based, throughput, etc.), the generally accepted accounting principles most in line with manufacturing operations are standard cost accounting and weighted average cost accounting. In both standard cost and weighted average cost accounting, managers can best assess production profit results as they are related to a formula for the “standard cost” of manufacturing a product.

In general terms, the computation of manufacturing cost involves many methods and techniques to define the components of cost, as well as determining what will be the basis of cost measurement such as historical cost, market value, and/or actual cost. For managers, the simple point of cost accounting is to determine why production costs are different than what they were planned (or estimated) to be, and then to take the appropriate corrective action. In an integrated enterprise resource planning operation (ERP), where work orders, shop floor routers, and travelers define the job sequencing for a generated sales order, each aspect of the sequence is reviewed in terms of actual versus estimated cost to attempt to discover those production steps than are deviating the most from the planned cost. In focusing so closely upon the production sequence, each and every step can be macroanalyzed in terms of cost as it is related to variables such as volume of output, material, and labor time for production.

For example, to discover actual versus estimate discrepancies in a particular work center or production sequence, management can look to things such as scrap piece counts, set-up times/cost, and material costs as they concern specific sequences. As such data is accumulated, it is easier to come to an understanding as to what specific aspect or sequence in production is costing more than the estimate, and why it is doing so. For those manufacturers utilizing more robust ERP software systems, managers can quickly and easily see actual dollar costs against individual production activities, as well as finding opportunities to streamline operations and reduce costs. If needed, as a result of cost accounting a manager can even determine whether they should eliminate the entire production activity, especially if there is no value added or profit to be made.

With accurate and regular job cost accounting facilitated by ERP software, the modern manufacturer gains a competitive edge through the routine maintenance of cost efficiencies. Indeed, as corrections, as a result of cost accounting, are made in the production system to alleviate inefficient or non-profitable sequences, actual costs come into closer alignment with estimated costs, and in doing so provide a more predictable bottom-line.

Article Source: http://EzineArticles.com/?expert=Victor_Viser,_Ph.D.

Ask us for help.

We provide part-time offsite and onsite Manufacturing Cost, Forecasting, Inventory Management, Cost Control, QuickBooks Problem Solving, QuickBooks Training, Accounting, Cost Accounting, Controller and CFO Services to small and medium sized businesses.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

QuickBooks Certified Online ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist.

Microsoft Great Plains Authorized Real World Consultant.

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Strategic Planning for a Small Business – Overcome the Challenges

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WHY PLAN?

Things are ok. But how do you know you are thinking BIG enough? Are you leveraging the strengths, interests and talents on your team? Will you wind up in a place that will make you happy? What exactly is the best game plan? It is not that you haven’t been thinking about these questions. The business environment is complex and the choices are daunting. How do you answer the hard questions?

For the same reasons that pilots use maps when they fly cross-country and chefs follow recipes, it makes good sense to work towards organizational and personal goals with a written plan. One can operate without a plan, and many do, but the results probably won’t be optimal.

A strategic thinking and planning process can help to create a framework where you take control of the business, instead of sitting back and watching the business taking control of you. For many, the process of planning (thinking, discussing, researching and analyzing) is even more useful than the final plan. A planning process can help to sharpen a vision, evaluate alternative paths, build common understanding and commitment, balance dreams with reality, and transform uncertainty into action.

SOUNDS GOOD BUT MOST SMALL BUSINESSES DON’T PLAN

Although there is a lot of research correlating success with planning, it probably won’t surprise you that the majority of small businesses don’t have a written strategic plan. The reasons why are varied but some common themes include: “It’s not the best use of my/our limited time”, “planning takes away flexibility”, “there are too many uncertainties”, “we have a business plan”, “building consensus is too difficult”, and “it will cost too much”.

These are all real concerns, especially to the small business owner. The dichotomy is that the very reasons why organizations avoid planning are the same reasons that planning can be so effective. Let’s take a look….

TIME- “We are so overwhelmed – hiring, making sure our customers are happy, getting new products out – we just don’t have time to think about next week, forget about next year. Somehow, the future will just have to take care of itself.”
Thinking versus action provides a dilemma for many professionals. We are action oriented. When we are doing something, we feel productive. When we take the time to think, we feel unproductive. We need to do both. Without investing the time and effort to think about where we’re headed, it is likely we won’t get there.

When we become so involved in the day to day that we risk losing perspective, it is time to step back. If we stay mired in the trenches, the easiest solution is often implemented, not the best one. Planning takes time, but it leads to a focused use of the limited time available.

FLEXIBILITY- “We like to stay open to opportunities as they arise.”

Creating a strategic plan doesn’t mean that your business can’t be flexible. A plan sets the foundation so that when things start changing; there is a baseline from which to evaluate new opportunities.

Out of strategic planning come decisions like: “we will approach this target market, not that one”, “we will offer these products or services, not those”, “we will accomplish this objective before anything else.” Written plans demonstrate that careful consideration has been given to the future. It is easier to make these kinds of decisions strategically with a longer-term view. When things get stressful, it becomes difficult to see all of the options well enough to make educated decisions.

“We have a basic idea of where we are headed, why write it down?”

Unwritten goals are simply thoughts that will change as often as your opinions change. The act of writing out goals helps to clarify them and can provide an objective way of tracking them against actual results. Magic happens when you put goals on paper, they start to become real. You begin to make commitments, and are open to opportunities you may not have noticed before.

UNCERTAINTY- “Strategic planning is a business school concept developed when people thought they could anticipate and predict the future. How can we plan in a world that is highly uncertain?”

Uncertainty is a real issue in forward planning. However, putting our heads in the sand probably isn’t the best solution. Most organizations have their strategies, structure, and service offering challenged on a regular basis. To remain successful it is vital to ask the following strategic questions on a regular basis:

Where are we now? Where are we going? How are we going to get there?

Strategic planning helps a business evaluate market opportunities. To do this effectively, the process includes collecting and analyzing information about the business environment, understanding internal strengths, and developing a set of ‘key assumptions’. Optimal strategies are designed based on all of these factors. As the environment changes, so should our plans. One way to assess whether it is time to conduct a new strategic planning process is to check your list of ‘key assumptions’ on an annual basis to see if anything has changed.

I HAVE A PLAN- “I wrote a business plan when I started the business”

The act of strategic planning is often confused with a business plan. Business plans are usually drafted to obtain financing, then wind up filed away. The strategic planning process is an activity that is conducted every few years to evaluate opportunities, wrestle with environmental changes, build consensus, and to create updated goals. The output (a strategic plan) is a short working document that defines the positioning and future of the organization, with an action plan to get from here to there.

ORGANIZATION DYNAMICS- “I could never get everyone to agree on the best way to move forward. Anyway, shouldn’t it be my vision?”

An effective planning process will help to get people talking, and ensure that the business owner/CEO benefits from the ideas of his/her team. A good process is designed to build confidence, support and commitment among all involved. Even if only a limited group is included in the process, the completion of a strategic plan provides a great opportunity to communicate the company’s direction and core values to employees.

The use of an outside facilitator can greatly enhance the effectiveness of a planning process and keep the process on track. There is often a strong tendency of those participating to focus the discussions on today’s problems. An outside facilitator can help to broaden thinking and make sure that new ideas and directions are generated.

COST- “We don’t have a budget for planning.”

With all the activities that make up running a business, setting priorities in the context of a plan is important. Without a plan, the limited resources of a growing business will tend to be scattered in many directions, netting results that take longer and cost more.

What are your personal priorities? Is profitability, work/life balance, a motivated staff, or public recognition on your list? What are the personal benefits of achieving your goals? What are the consequences if you don’t?

If you are serious about your business, it is time to overcome the challenges to planning and start to soar. Don’t hesitate to enlist help. Stop thinking about a better future, TAKE ACTION!

We provide part-time virtual and onsite QuickBooks Training, Accounting, Cost Accounting, Controller and CFO Services to small and medium sized businesses.

Ask us for help – this is what we do.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

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The Benefits of QuickBooks Enterprise For Your Business

By Gary Farrell

Whether large or small, no matter what you sell, your business needs an accounting program that is reliable and accurate, allows for simple generation of reports and is highly functional. Enterprise Solutions from QuickBooks, designed for growing businesses, has the capabilities and flexibility to meet your business’ unique needs as it grows – and it could save you thousands in up-front and ongoing system costs.

QuickBooks Enterprise provides the key functionality you need with incredible ease of use. If you are a business owner or manager exploring the available solutions for improving the financial flow of your work, here are just a few reasons why you should consider this product.

Business Growth Support: QuickBooks Enterprise lets you scale up to 30 simultaneous users as your organization grows. Flexibility: The software is designed to work the way you work, so you don’t have to change your current business processes. This program lets you customize any of its 120+ built-in reports and forms such as estimates and invoices to look and work the way you want. Instant Access: Get real-time, instant access to the information you need to know about your business, when you want it and in the format you want it in, from Enterprises’ 120+ built-in reports, such as Forecast Overview, Forecast vs, Actual, Profit & Loss Budget Performance, and A/P Aging Detail. Functionality: Enterprise Solutions delivers all of the key financial management and accounting functionality you would expect from a sophisticated solution, including: G/L, A/P, A/R, Payroll, Fixed Assets, Job Costing, Budgeting and more.

Consult with a local QuickBooks business advisor today to learn more about migrating your current records to the flexible and manageable QuickBooks software solution.

———————

We are headquartered in the Tampa Bay area; a portion of our work is handled remotely, yet, we are able to talk, meet, and work with you on a regular periodic basis.

PETER DESMIDT has more than 48 years of accounting, cost accounting, and systems implementation (including QuickBooks, Intuit, Enterprise, Passport, RealWorld, Peachtree, Great Plains, Dynamics, Sage, Direct Systems, SouthWare, ACCPAC, and Computer Associates software) experience, as well as management positions with companies like Atlantic Richfield, Signode, Norlin Industries and R.R. Donnelley and Sons. Peter DeSmidt’s specific experience is as a CFO, Controller, Accounting Manager and Advisory Consultant. He holds a BA Degree majoring in Accounting and an MBA Degree majoring in Accounting and Computer Science. As we are a small business ourselves, we understand what it takes to get a small company off the ground and on the right track.

Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

Ask us for help.

We provide part-time offsite and onsite CFO, Controller, Accounting, Cost Accounting, Forecasting, Inventory Management, Cost Control, QuickBooks Problem Solving, and QuickBooks Training Services to small and medium sized businesses.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Contact us to inquire about our QuickBooks services; or to set up a free consultation telephone call.

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9 Benefits of Companies Outsourcing Their CFO and Controller Tasks

All businesses need financial consulting, however not every business can afford to hire a full-time Chief Financial Officer (CFO), or a Controller. As a result, small and medium-sized businesses are increasingly turning to expert outsourced CFO services. Here’s how an outsourced financial consultant can benefit your company:

1. Cost Reduction
Outsourcing a qualified accounting professional to handle your CFO services can help your company save a lot of money. You’ll be getting expert services without having to add additional personnel and technological resources. This can help reduce your company’s overall operation costs.

2. Quality of Services
With an outsourced CFO, you can be assured of quality services because he is a professional who has worked with different industries, and understands what works across the board.

3. Allows Better Focus
It’s very important for businesses, especially small ones, to concentrate on their core competency, and let professionals handle what they don’t understand. If dealing with the financial aspect of your business isn’t your specialty, outsourcing CFO services can help to concentrate more on what you know best.

4. Overall Efficiency
When it comes to meeting deadlines, as well as other requirements of different projects, an outsourced CFO is generally more efficient compared to a hired one. This is because he has experience with almost all financial situations, and you can only expect the best from him or her.

5. Assistance in Getting Financing
Bookkeepers do a wonderful job, but it’s usually an outsourced Chief Financial Officer, who has to present suitable financial statements to a lending body for financial approval. With his or her experience, the CFO will be able to identify the strengths and weaknesses in your company’s income statement and balance sheet, and can equip you with the financial information that the bank may need. Many times, such CFOs will introduce your company to banking sources that match its lending requirements, and thereafter, assist you throughout the financing process.

6. Developing Budgets
Every business, regardless of size requires a revenue and expense management plan in order to successfully grow. An outsourced CFO can help you as the business owner to develop a model that demonstrates what needs to be done to attain a desired gross or net profit, or meet a sales goal. Every company owner can attest to the fact that without a budget, it’s difficult to run the business efficiently, leave alone managing it to become profitable. Therefore, the CFO can work with you to come up with plans that can help you identify the sales level that should be reached to attain break-even profitability, or know when it’s sensible to hire additional employees.

7. Managing Cash
Small companies would love to be able to have sufficient cash to run their everyday operations, however, most of them lack the tool to help them forecast their liquidity needs. When you outsource a CFO, he or she can build a model that forecasts your cash-flow requirements both in the short and long term. In addition, he’ll be able to help your company in prioritizing its cash-flow needs.

8. Assist in Complying with Tax Regulations
Several business owners usually disregard the consequences of failing to pay taxes to the federal and local government on time and in full. In addition, they pay the wrong amount of taxes because of wrongly entered transactions in the ledger. Accurate tax returns can’t be prepared without proper financial statements. Outsourcing CFOs can come in very handy for such businesses because they’ll ensure that financial statements are prepared accurately, and in a timely manner. Consequently, they’ll be able to assist you in navigating and complying with various tax regulations.

9. Upgrading Accounting Software
An outsourced CFO is familiar with a huge variety of software packages. As a result, he can weigh the gains of getting more powerful accounting software against the package’s cost, in order to know if the purchase makes sense. However, that basic software you have in your office may not suit every business type; certain companies for instance, those that deal with manufacturing, have significant inventory management requirements, and need more sophisticated software. An outsourced CFO can offer you very valuable advice regarding which accounting software is right for your business.

As you’ve seen above, companies have a lot to gain from outsourcing CFO services, such as cost reduction, efficient services and cash management. Besides, you’ll get more time to concentrate in the day-to-day running of your business.

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Our approach is to provide a definitive yet thorough assessment allowing you, and your company, to consider a broad overview of alternatives to manage the challenges and enhance the performance of your business.

In short, we identify opportunities, work with you and your organization, and enable you to take advantage of business potential and growth. The move to part time, on call, and virtual services has become more accepted in the business world over the past few years. For a fraction of the cost of a full time employee, a small business can have the Controller / CFO function filled by an experienced professional.

We are headquartered in the Tampa Bay area; a portion of our work is handled remotely, yet, we are able to talk, meet, and work with you on a regular periodic basis.

PETER DESMIDT has more than 48 years of accounting, cost accounting, and systems implementation (including QuickBooks, Intuit, Enterprise, Passport, RealWorld, Peachtree, Great Plains, Dynamics, Sage, Direct Systems, SouthWare, ACCPAC, and Computer Associates software) experience, as well as management positions with companies like Atlantic Richfield, Signode, Norlin Industries and R.R. Donnelley and Sons. Peter DeSmidt’s specific experience is as a CFO, Controller, Accounting Manager and Advisory Consultant. He holds a BA Degree majoring in Accounting and an MBA Degree majoring in Accounting and Computer Science. As we are a small business ourselves, we understand what it takes to get a small company off the ground and on the right track.

Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

We provide part-time offsite and onsite CFO, Controller, Accounting, Cost Accounting, Forecasting, Inventory Management, Cost Control, QuickBooks Problem Solving, and QuickBooks Training Services to small and medium sized businesses.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Contact us to inquire about our CFO and Controller Services.

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Does Your Small Business Need an Outsourced Financial Controller?

By Tim Garrison

Many small business owners launch their business to follow a passion, whether that passion is writing, programming, Web design, art, sound & video, or any number of other industries. Your business begins to grow by word-of-mouth and soon, you’re hiring employees or independent contractors to take over part of your responsibilities rather than doing it all yourself.

Somewhere along the line, you grow large enough to hire a small business bookkeeper. Until now, you’ve managed your books yourself, either through QuickBooks or another bookkeeping software, or some system that you’ve devised yourself. Now, you’ve just gotten too big for this system to work anymore.

You hire a bookkeeper who understands financial accounting software and can manage your books on a full-time or part-time basis. This person could be an in-house employee, or maybe a local contractor. Or maybe you’re one of the growing number of smart business owners who hires an outsourced bookkeeper based in the U.S. who works virtually and communicates with you via phone and email.

Things go along well, but now that you’re not doing your own books anymore, you feel a bit out of touch with your company’s broad financial picture. Your bookkeeper can send you the reports and spreadsheets, but it doesn’t always make sense. You need someone to interpret all those numbers in boxes for you. Most importantly, you’ve grown large enough that you need a trusted financial advisor with the knowledge to help you make the best decisions for your rapidly growing business.

If you know anything about financial controllership, you might think a full-time financial controller comes with a 6-figure salary. And you’re probably right. Your business doesn’t have the budget for that — and it’s not what you need anyway.

You just need someone on a part-time basis to review your books with you monthly, provide checks-and-balances for your in-house or outsourced bookkeeper, and help you with financial planning and budgeting on a monthly or quarterly basis. If you think you can’t afford a financial controller, think again. Outsourced controllership services are less expensive than you may think, and will save your business money in the long run with better financial planning.

You may be concerned that, by hiring an outsourced controller, you’ll be giving up “control” of your company. That couldn’t be further from the truth. A financial controller provides you with the information you need to make the best decisions for your company — but all decisions remain yours. A financial controller doesn’t “control” your business. As a trusted advisor, he gives you the information you need to be more in control of your company.

Article Source: http://EzineArticles.com/7114727

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Our approach is to provide a definitive yet thorough assessment allowing you, and your company, to consider a broad overview of alternatives to manage the challenges and enhance the performance of your business.

In short, we identify opportunities, work with you and your organization, and enable you to take advantage of business potential and growth. The move to part time, on call, and virtual services has become more accepted in the business world over the past few years. For a fraction of the cost of a full time employee, a small business can have the Controller / CFO function filled by an experienced professional.

We are headquartered in the Tampa Bay area; a portion of our work is handled remotely, yet, we are able to talk, meet, and work with you on a regular periodic basis.

PETER DESMIDT has more than 48 years of accounting, cost accounting, and systems implementation (including QuickBooks, Intuit, Enterprise, Passport, RealWorld, Peachtree, Great Plains, Dynamics, Sage, Direct Systems, SouthWare, ACCPAC, and Computer Associates software) experience, as well as management positions with companies like Atlantic Richfield, Signode, Norlin Industries and R.R. Donnelley and Sons. Peter DeSmidt’s specific experience is as a CFO, Controller, Accounting Manager and Advisory Consultant. He holds a BA Degree majoring in Accounting and an MBA Degree majoring in Accounting and Computer Science. As we are a small business ourselves, we understand what it takes to get a small company off the ground and on the right track.

Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

We provide part-time offsite and onsite CFO, Controller, Accounting, Cost Accounting, Forecasting, Inventory Management, Cost Control, QuickBooks Problem Solving, and QuickBooks Training Services to small and medium sized businesses.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Contact us to inquire about our CFO and Controller Services.

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Alignment – A Foundation For Lasting Revenue Growth

Your ability to win or lose more business is about alignment – configuring and calibrating key aspects of marketing and sales execution to optimize revenue growth. What this asserts is that the extent to which the organization consistently meets revenue targets is directly proportional to the degree of alignment between the organization’s parts and its strategic priorities.

Sustaining top-line revenue growth is an ongoing challenge for most companies. It’s no secret that one of the most critical challenges facing every 21st century organization is consistently delivering against the #1 driver of long-term company success-top-line revenue growth. Over the past decade of working with CEOs to design and deliver better long term revenue performance, I’ve seen and see, that those unable to sustain success routinely lack much of a coherent or comprehensive plan. Moreover, their teams have little understanding of how it all comes together and what their roles are, and/or the sequencing of events in achieving future plans.

When it comes to alignment, perception and reality often differ. That said, most executives think their companies are aligned. Over the past few months, they’ve put plans in place to align the organization and focus their resources to achieve maximum growth. They’ve organized a series of group and one-on-one meetings throughout the organization to communicate key initiatives, priorities, and growth expectations and get everyone on the same proverbial page. They sincerely believe that they are leading well-aligned companies, with all members of the management team and every employee clear on the rationale behind the strategic plan and their own priorities and accountabilities to support the plan, with specific time frames articulated.

But the facts tell a different story.
• 85% of executive teams spend less than one hour per month discussing strategy. (Norton)
• 54% of executives say that company’s capabilities do not reinforce one another (Booz@Co.)
• Two-thirds of support units are not aware of corporate strategy or aligned with their own business unit’s strategy. (Norton)
• 60% of organizations don’t link budgets to company strategy.(Norton)
• 95% of employees claim they are not aware of company strategy.(Norton)

It’s clear that organizations may not have their resources as well aligned as they think. Managers would do well to ask themselves and their teams the following questions:
• Are we all synchronized and systematically working towards the same objective-driving healthy revenue growth.
• Do we know the big picture and where we individually and collectively fit into that process?
• Are we clear on the critical factors that drive growth, there dependencies and that we’ve providing proper context for daily decisions being made in support of those objectives?

Without alignment, it’s difficult-if not impossible-for workers in an organization to have context for the decisions they’re making. Alignment and context allow an organization to move confidently beyond its current state to its future desired state.

Alignment is such a simple concept; why is it so difficult to achieve? The importance of aligning the team is hard to dispute, and it seems logical and obvious. But when you consider that strategy is set by very few, maybe once or twice a year, yet the real work is done over a long stretch by many who weren’t in those strategy meetings, you start to see the issue. The workers who ultimately carry out the mission have little understanding about how that strategy was reached, and they had no input on whether they think the strategy is plausible given the reality of resources, budgets, and competition they see out in the field. The result is that most do not have proper context for making good decisions in their daily work.

When you think of all the possible decisions that are made daily, one or two bad calls might appear to have little impact in the overall scheme of things. Most leaders may never be aware of these tactical decisions, or only find out about them when review meetings take place after the fact. But collectively, over time, decisions made outside the context of the organization’s overall direction will drive inconsistency and have significantly negative impact, with little opportunity to recover. This can result in confusion and unnecessary chaos, ultimately reducing the odds for success while driving down productivity and draining morale.

Alignment can be the difference between business success and failure. CEOs struggle each day with new challenges and increased complexity both within their companies and in the external environment. The percentage of companies that have consistently achieved even a modest rate of growth of over 5% for 10 years or more has continued to drop, and the business environment isn’t getting any easier.

Why do some companies succeed where others fail? When you think about it, all companies have the same basic ingredients: unique products or services, value propositions, a marketing budget, managers, leaders, people, buildings, metrics, etc. But, within each organization, the system can’t perform to its highest levels unless its constituent parts are aligned.

Think of professional sports teams. They all have the same ingredients: players, managers, owners, equipment, stadiums, playbooks, the best athletes, etc. Each is a system that is trying to become more successful than its competitors. What brings success? Alignment of the constituent parts. This rule applies equally to championship sports teams, Ferraris, and corporations. For the latter, it means developing and implementing a strategic framework that is translated into specific objectives and measurable initiatives. This framework galvanizes, links, and governs the entire organization, bringing more consistent and repeatable high performance.

Hitting your revenue growth expectations is proportional to your team’s degree of alignment. What becomes paramount is how well the organization can become aligned in order to move faster, make better decisions, and ultimately win more than the competition. This will allow leaders to more successfully align and optimize the collective resources to achieve key initiatives. This is a critical step in becoming more consistent in winning more than your competitors and, as such, should be a managed and formalized process that executives focus on for the long haul.

Article Source: http://EzineArticles.com/7488684

We provide remote cloud based Accounting and Accounting Management services for users of Intuit QuickBooks Enterprise / Desktop / OnLine, Microsoft Dynamics GP, Passport Business Solutions, including Entries, Inventory, Consolidations, Payroll, Analysis, Reconciliations, Budgeting, and Financial Reporting.

We provide these services on an hourly / part time / as needed or project basis, to include Accounting, Distribution, and Reporting functions; remotely or on your hosted systems.

PETER DESMIDT has more than 48 years of accounting, cost accounting, and systems implementation experience (including QuickBooks, Intuit, Enterprise, Passport, Dynamics, Great Plains, RealWorld, Peachtree, Sage, Direct Systems, SouthWare, ACCPAC, and Computer Associates software), as well as management positions with companies like Atlantic Richfield, Signode, Norlin Industries and R.R. Donnelley and Sons.

Peter DeSmidt‘s specific experience is as a CFO, Controller, Accounting Manager and Advisory Consultant. He holds a BA Degree majoring in Accounting and an MBA Degree majoring in Accounting and Computer Science. As we are a small business ourselves, we understand what it takes to get a small company off the ground and on the right track.

We are headquartered in the Tampa Bay area; the majority of our work is handled remotely, yet, we are able to talk, meet, and work with you on a regular periodic basis.

Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

View our testimonials www.desmidtconsulting.com/testimonials.html

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced And Enterprise ProAdvisor

QuickBooks Certified Online ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Microsoft Great Plains Authorized Real World Consultant

Microsoft Certified Small Business Manager Consultant

Contact us to inquire about our CFO, Controller, Accounting, Dynamics GP, Passport, or Intuit / QuickBooks Services.

 

Intuit QuickBooks Desktop Enterprise – We Provide Remote Accounting Services In Your Hosted Environment

After serving the needs of small businesses for over 10 years, Intuit identified a need to better serve small to medium sized businesses growing in size or complexity. QuickBooks Desktop Enterprise was designed specifically with these businesses in mind.

QuickBooks Desktop Enterprise is the most flexible QuickBooks that adapts to the way you run your business. It scales from 1 to 30 users with everything you need to manage your users and data properly. Its add-on modules cater to your specific workflow needs.

With QuickBooks Desktop Enterprise you can:

  • Get room to grow without sacrificing control over user access.
  • Keep your growing data history to provide the best possible financial data about your business.
  • See your data the way you want with the most customizable reporting tools in QuickBooks.
  • •Manage your end-to-end workflow inside QuickBooks Desktop Enterprise.
  • Access Enterprise any way and anywhere you want, anytime.
  • Let users work at the same time with more activities in multi-user mode.
  • Add monthly Hosting Service to run your Enterprise in the cloud, and connect all your users and get anywhere, anytime access with no network to set up or maintain.
  • Combine reports from multiple company files for clearer business insights.
  • For more complex reporting needs, you can create custom reports with ODBC-compliant applications9 by connecting directly to the QuickBooks database for maximum flexibility in report design.

We provide remote cloud based Accounting and Accounting Management services for users of hosted Intuit QuickBooks Enterprise / Desktop / OnLine, Microsoft Dynamics GP, Passport Business Solutions, including Entries, Inventory, Consolidations, Payroll, Analysis, Reconciliations, Budgeting, and Financial Reporting.

We provide these services on an hourly / part time / as needed or project basis, to include Accounting, Distribution, and Reporting functions; remotely on your hosted systems.

PETER DESMIDT has more than 48 years of accounting, cost accounting, and systems implementation experience (including QuickBooks, Intuit, Enterprise, Passport, Dynamics, Great Plains, RealWorld, Peachtree, Sage, Direct Systems, SouthWare, ACCPAC, and Computer Associates software), as well as management positions with companies like Atlantic Richfield, Signode, Norlin Industries and R.R. Donnelley and Sons.

Peter DeSmidt‘s specific experience is as a CFO, Controller, Accounting Manager and Advisory Consultant. He holds a BA Degree majoring in Accounting and an MBA Degree majoring in Accounting and Computer Science. As we are a small business ourselves, we understand what it takes to get a small company off the ground and on the right track.

We are headquartered in the Tampa Bay area; the majority of our work is handled remotely, yet, we are able to talk, meet, and work with you on a regular periodic basis.

Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

View our testimonials www.desmidtconsulting.com/testimonials.html

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced And Enterprise ProAdvisor

QuickBooks Certified Online ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Microsoft Great Plains Authorized Real World Consultant

Microsoft Certified Small Business Manager Consultant

Contact us to inquire about our CFO, Controller, Accounting, Dynamics GP, Passport, or Intuit / QuickBooks Services.

 

Better Profit of Your Business Dependent Upon Small Business Advisor

By Nantaram Peggy

While starting a business it is not always that the person knows everything about the business and there are always something or the other lacking behind in knowledge. In fact there are certain things which cannot be understood unless you have practical experience in it or have some expert advice with him. With the question of expert advice it can be said that it is always better to seek the help of some small business advisor who can guide you the best in managing your business and provide your expert advice in making it gain better profit. And therefore the role of the small business advisor is quite important for the better growth and development of any business. In fact there are also other factors that should be kept in mind.

The point is that the small business advisors that you choose should be efficient and trustworthy. In fact this is the primary criteria of choosing a small business advisor. When you do not have much idea of the business you are dealing with, in such a case it is obvious that you may have to depend a lot on the small business advisors and if they are not trustworthy the result may be that they may cheat you by providing false reports and take away your money. Therefore it is essential that you choose the proper small business advisor that can help you the best and is trustworthy as well. It is always better to choose someone who is already having quite a good deal of experience and a good reputation in the field you are working on. Therefore it is better to do some homework before choosing the right small business advisor. On the other hand the impartiality is also a great factor and if the company or the person you choose is partial towards any of your competitors it is most likely that the only sufferer would be you and your business.

Besides that it is essential to keep track of the total progress of the business and for that an accurate financial reporting plays a very important role. In fact when you have the total and proper reports of your business every week or every month it is easier for you to keep track of the progress of your business. In fact the accurate financial reporting can also be helpful in several other ways like providing you the actual state of your business and the things you are lacking behind in. Not only that, but with the help of accurate financial reporting it is easier for you to fix the future plans for your business for its better development with advice of the small business advisor. In fact when you do not have the proper reports it is not possible for anyone to understand the state of the business clearly and therefore there should be no mistake in the reporting for the better growth of the business and for better profit.

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Our approach is to provide a definitive yet thorough assessment allowing you, and your company, to consider a broad overview of alternatives to manage the challenges and enhance the performance of your business.

In short, we identify opportunities, work with you and your organization, and enable you to take advantage of business potential and growth. The move to part time, on call, and virtual services has become more accepted in the business world over the past few years. For a fraction of the cost of a full time employee, a small business can have the Controller / CFO function filled by an experienced professional.

We are headquartered in the Tampa Bay area; a portion of our work is handled remotely, yet, we are able to talk, meet, and work with you on a regular periodic basis.

PETER DESMIDT has more than 48 years of accounting, cost accounting, and systems implementation (including QuickBooks, Intuit, Enterprise, Passport, RealWorld, Peachtree, Great Plains, Dynamics, Sage, Direct Systems, SouthWare, ACCPAC, and Computer Associates software) experience, as well as management positions with companies like Atlantic Richfield, Signode, Norlin Industries and R.R. Donnelley and Sons. Peter DeSmidt’s specific experience is as a CFO, Controller, Accounting Manager and Advisory Consultant. He holds a BA Degree majoring in Accounting and an MBA Degree majoring in Accounting and Computer Science. As we are a small business ourselves, we understand what it takes to get a small company off the ground and on the right track.

Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

We provide part-time offsite and onsite Advisory, CFO, Controller, Accounting, Cost Accounting, Forecasting, Inventory Management, Cost Control, QuickBooks Problem Solving, and QuickBooks Training Services to small and medium sized businesses.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Contact us to inquire about our Advisory, CFO and Controller Services.

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Why You Should Have an Advisory Board

By Robbi A. Gunter

Many small businesses have a Board of Directors to make executive decisions and to oversee the company’s various activities. Your business may or may not have a Board of Directors, but you will want to consider organizing an Advisory Board to help boost your company’s success and credibility within the local and business communities.

The Benefits

Advisory Boards typically consist of three to five professionals with expertise in various areas of business. Individual board members may have experience in finance, marketing, your specific industry, purchasing, or another area of business operations. An Advisory Board will give you the benefit of working with seasoned professionals whose interest lies in helping your business thrive.

Members of Advisory Boards do not profit from their work with your business. Although you may compensate the board members by covering their travel expenses, providing meals, or offering stock options or monetary payments, their purpose is to give you guidance in developing a successful company. Advisory Board members will generally be more objective than Board of Directors members because they are not seeking any return from their time and work investments. You can expect the advice from Advisory Board members to be honest and straightforward.

Advisory Boards are an excellent resource for business knowledge as well as advice. The members usually have years of experience in their field and have likely encountered many problems along the way. “Experience is the best teacher” is absolutely true when it comes to operating a business, and the lessons learned from your Advisory Board’s cumulative business experiences are more valuable than any training course, book, or lecture. These professionals have “been in the trenches” and can offer realistic and relevant advice.

You will not be the only one profiting from having an Advisory Board. Professionals that are members of an Advisory Board are part of your business because they want to be. They love what they do and want to reach out to other business owners to pass on their knowledge and enthusiasm. Advisory Board members welcome the opportunity to network with other like-minded professionals while helping business owners build or expand successful companies.

Impact on Your Business Credit Profile

One of the greatest advantages of incorporating an Advisory Board into your business plan is the positive effect this can have on your business credit profile. Your association with proven business leaders will boost your presence in the community. This can potentially draw more interest from investors and also enhance your credibility with community leaders and local lenders. Taking a strong interest in your company’s future by coordinating an Advisory Board will let others know that you are serious about your business’ success.
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Our approach is to provide a definitive yet thorough assessment allowing you, and your company, to consider a broad overview of alternatives to manage the challenges and enhance the performance of your business.

In short, we identify opportunities, work with you and your organization, and enable you to take advantage of business potential and growth. The move to part time, on call, and virtual services has become more accepted in the business world over the past few years. For a fraction of the cost of a full time employee, a small business can have the Controller / CFO function filled by an experienced professional.

We are headquartered in the Tampa Bay area; a portion of our work is handled remotely, yet, we are able to talk, meet, and work with you on a regular periodic basis.

PETER DESMIDT has more than 48 years of accounting, cost accounting, and systems implementation (including QuickBooks, Intuit, Enterprise, Passport, RealWorld, Peachtree, Great Plains, Dynamics, Sage, Direct Systems, SouthWare, ACCPAC, and Computer Associates software) experience, as well as management positions with companies like Atlantic Richfield, Signode, Norlin Industries and R.R. Donnelley and Sons. Peter DeSmidt’s specific experience is as a CFO, Controller, Accounting Manager and Advisory Consultant. He holds a BA Degree majoring in Accounting and an MBA Degree majoring in Accounting and Computer Science. As we are a small business ourselves, we understand what it takes to get a small company off the ground and on the right track.

Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

We provide part-time offsite and onsite CFO, Controller, Accounting, Cost Accounting, Forecasting, Inventory Management, Cost Control, QuickBooks Problem Solving, and QuickBooks Training Services to small and medium sized businesses.

Visit our website www.desmidtconsulting.com

Visit our mobile website www.desmidtconsulting.mobi

Contact us www.desmidtconsulting.com/contactus.html

813-252-9490

Thank you,

Peter DeSmidt, BA, MBA, PA

QuickBooks Certified Advanced ProAdvisor

Microsoft Certified Accounting Application Specialist

Microsoft Certified Installation Specialist

Contact us to inquire about our Advisory, CFO and Controller Services.

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