Financial management is one of the most important aspects of your business because it is how you will make all of your business decisions. Financial management consists of:
Separate accounts to track your business
Business planning and budgets
Careful monitoring and tracking
Review and strong understanding of the financial statements
Why do I need a CFO?
You didn’t start your business or become the head of an organization because you are a financial expert. You are there to grow and succeed. The accounting, bookkeeping and financial aspects of your business are important to how you run your company, but it is time consuming and if not done properly, can lead to more headaches down the road.
Keeping track of your bookkeeping and your financial statements is time consuming and difficult to manage. But most frustrating is understanding and interpreting your financial picture from reports. CFOs are responsible for timely and accurate presentations and financial reports in order to capitalize on your growth.