After carefully tracking and accounting for all transactions, a presentation of the financial statements helps business owners stay on top of their financials. It is helpful to start with the balance sheet, move on to the income statement, and end with your cash flow. Presenting the financial information in layman’s terms will help those who are not trained in financial tracking to be a part of the conversation.
Graphs can be easier to understand vs columns of numbers, summarizes work better than presenting all of the detail, and give everyone plenty of time to review and process the information.
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 deciphering financials 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.
