In this article, Toptal Finance Expert Scott Hoover runs through a useful list of the top ten most common mistakes he encounters with respect to the accounting practice in small businesses. By avoiding these mistakes, entrepreneurs can ensure they stop wasting money and stifling the growth prospects of their company.
Over the last few decades, the role of the CFO has undergone a profound shift. The historical tasks of the finance function such as books and records, financial reporting, and statutory compliance continue to be important but are now taken for granted by CEOs. The CFO of today and tomorrow must be able to take financial data and use it to influence operational decision making and strategy. But how?
When does it make sense for a business to consider hiring a part-time CFO? Are there situations in which it doesn't make sense at all? What attributes and criteria should businesses use to filter and select candidates? This article by Toptal Finance Expert Scott Hoover looks at answers to all three questions, and is intended to be a practical guide based on nearly a decade of experience as a freelance CFO for privately held companies.