Beyond Compliance Accounting

Michigan CFO Associates, Inc. provides your company with a focus on Managerial Accounting issues. This approach provides critical financial information to internal decision makers for effective and informed decisions.

• Management Accounting focuses on effectively managing the business, every day of the year
• Compliance Accounting, by comparison, focuses on GAAP and/or tax compliance, generally once-a-year events

Our comprehensive CFO services will move you beyond a compliance accounting perspective and, instead develop, analyze and interpret financial statements that help you manage and grow your business.

Financial Reporting and Analysis

Financial Statements

• Statement usefulness assessment/creation
• Periodic review of financial statements and business issues
• Training/understanding financial statements

Management Accounting

• Identification of critical business metrics and report development; creation of “Dashboard” items
• Profitability Analysis (by customer/part/product family/service type)
• Assessment of Costing system
• Assessment of Fixed Overhead levels – what is appropriate?
• Assessment of Quoting practices/margins
• Budgeting, Accountability and Incentive plans
• Forecast/Projection Model creation

Accounting Practices

• Identification of weak accounting practices
• Improvment of reporting/system efficiency/data gathering with better source data and automated spreadsheet tools
• Train existing staff in controls, checks and balances
• Management of existing financial staff

Cash and Banking

• Review and/or establish cash management systems
• Develop detailed cash projections
• Create bank financing packages and assist in bank negotiations

Project Based Services

• “Quick Review” of day-to-day Financial Systems, Processes, Accuracy and Efficiency
• Interim CFO/Controller
• Business Wind Down Assistance