What is a Virtual CFO?
I find this term intriguing. What is virtual reality?
Wikipedia defines it as follows:
“Virtual reality is a computer-simulated environment that can simulate physical presence in places in the real world or imagined worlds.”
TheFreeDictionary defines it as follows:
“A computer simulation of a real or imaginary system that enables a user to perform operations on the simulated system and shows the effects in real time.”
SearchCIO-Midmarket defines it as follows:
“Virtual reality is an artificial environment that is created with software and presented to the user in such a way that the user suspends belief and accepts it as a real environment.”
All of these definitions define the environments as being artificial or simulated; not real.
It sounds like a Virtual CFO is an artificial or simulated CFO; maybe even a holographic CFO. Virtual reality is used in gaming Continue reading
The CFO 4 Small Biz™ tag line is “Every Company Needs Financial Guidance ® ”.
Is yours adequate? If so then there is no need to read further. If not, you will be interested in reading further.
“The role of a chief financial officer has changed dramatically in recent years. In many growing businesses, the CFO serves as a partner to the CEO, helping outline strategy and drive the business toward its goals. …the CFO is the partner of the CEO in helping lead the company to meet business goals.” (INC. Magazine 2/16/10)
Every company needs financial guidance; a Chief Financial Officer (CFO) provides that guidance. Most companies over $30 million will have a fulltime CFO. A small company has the same requirements of a large company; the difference is that the large company has the financial capability to have the resources in-house. Continue reading
What does a fulltime CFO cost? The answer to this question is dependent upon company size and location. The Robert Half 2013 Salary Guide stratifies companies by sales revenue as follows: Continue reading
To answer the question we first must understand – “What is management accounting.”
The Chartered Institute of Management Accountants (CIMA) answers the question this way – “Management accounting combines accounting, finance and management with the leading edge techniques needed to drive successful businesses.”
“Our members are qualified to work across an organization, not just in finance. In addition to strong accounting fundamentals, CIMA teaches strategic business and management skills: Continue reading