These are recent buzz phrases in the marketplace, and I want to clarify where they fit in the scheme of things.
‐ CFO: Large Public Companies employ CFOs on a full‐time basis with an annual salary commensurate with their industry knowledge and experience. Very expensive and outside the capacity of most small businesses
‐ Virtual CFO: Private Companies can employ the services of a Virtual CFO on a part‐time basis, using only the amount of CFO they need. There is an entire Association of Virtual CFOs dedicated to providing this service with highly qualified and experienced members. The cost is a fraction of the full‐time CFO but may still be seen as prohibitive by many small businesses.
‐ Entry Level CFO: For small Companies that are not ready for the Virtual CFO market but want access to the basic tools to drive their businesses. This service should be provided by the Accounting‐Advisory firm as an extension of the Financial Reporting and Tax Compliance they do for you. It requires the Accounting‐Advisory firm to be structured in such a way that this service is a part of the core business of the firm, not some ad‐hoc sideline. A properly structured Accounting‐Advisory firm can provide this service on a consistent basis, usually with monthly meetings, at a modest cost that is affordable and billed monthly to help with your cash‐flow The savvy Accountant Advisor will know when you are ready to step up to the next level to Virtual CFO and will make that recommendation and introductions at the appropriate time.
Our entry-level Virtual CFO services are an investment in your business future. Our services facilitate transparent financial reporting which helps to promote profit and overall business growth. They cover functions like forecasting and modelling, cash flow management and strategic planning, to specific project-based work including technology implementation and training.
At PMCA Advisory, our Entry-level Virtual CFO services can help you with:
Receive clear insights that will drive your business to success with accurate, insightful and digestible financial reporting. You and your stakeholders will get a thorough understanding of your current business situation and forecast ongoing performance, giving you the details needed to make informed business decisions with the help of our business experts.
Manage the revenues coming in and out of your business to maximise profits and better plan your business future. By identifying any opportunities or threats, our professional team will help you position your business for growth and long term success, pinpointing any problematic spending.
Develop tailored business plans with impartial experts, setting performance goals and objectives to elevate your business. Our in-house experts will identify, understand and manage risks drawing upon their decades of experience and expertise in a number of industries. This also includes scaling your systems and automating processes, assisting your business to continue to grow without as much strain on your time.
As an MYOB partner and Xero certified advisor, PMCA is expertly equipped to help set up and manage your cloud based accounting systems. With years of experience and expertise our team will teach you how to use each platform and uncover the highest value insights.
PMCA Advisory is a boutique firm imbued by Philip Martin’s mantra “To be of value”. When you become a client of ours you become a part of our extended family. No lock-in contracts here, just a desire to see your business grow.
Whether you are receiving Executive Coaching, being taught accounting software like Xero, or engaging in a business diagnostic by one of our specialists, Philip will personally oversee the portfolio of every business client. You can rest assured knowing you are in safe hands with Philip’s decades of experience as a chartered accountant in a diverse range of sectors.PMCA Advisory is large enough to provide you specialist staff with dedicated knowledge in specific aspects of your business, yet small enough to allow Philip to be centrally involved in overseeing the entire service.
Unlike some larger firms, your account will always be managed by an expert, receiving the attention and service it deserves. We understand no two businesses or business owners are the same and make it our mission to develop a detailed understanding of your unique challenges and give you the most effective set of solutions for your business.
At PMCA Advisory, we actively engage with each client about their business. Philip draws upon his years of experience to ask probing questions that enable us to clarify how we can help you grow your business. More than simply providing tax compliance services and tax returns, we help business owners achieve their goals.
In addition to talking with Philip, each new PMCA Advisory client will undergo an hour-long interview with our Head of Business Diagnostics. In this session we will develop an understanding of you as the business owner, your business, your aspirations, and any of your concerns.
