Fiscal Infrastructure Assessment
Is your accounting department not functioning to its full potential? Are your financial statements hard to follow? Do you need assistance evaluating staffing needs for your accounting department?
If the answer is yes to any of these questions, you’re not alone. Many organizations lack clarity in their financial management processes. YourCFO is here to help.
We have worked alongside organizations with budget sizes of $250K to $14M+ in revenue, helping them get their financial department in order, implement infrastructure and process efficiencies to bring long-term cost savings.
How does it work? It begins by meeting your management team, staff and board of directors to get a better understanding of your current accounting structure. We dissect the parts -- the good and bad -- to identify the obstacles that lie in your path.
At the end, we provide your organization with a formal roadmap that outlines our findings and identifies the practical solutions needed to achieve success.
Some of the factors we have identified which can make a huge improvement are…
Educating staff on more efficient processes
Improving the financial literacy of board members & key management
Providing practical resources; including monthly financial reports, key performance indicators and tools to manage cash flow & budgeting
Simplified auditing processes
Redesigned chart of accounts for easier data entry & reporting
Creating efficiency with an expert-driven accounting system design
Cleaning up Accounts Payable & Accounts Receivable lists
What happens after you are provided your roadmap of recommendations?
YourCFO can work with your existing team to implement the desired changes and walk your team through your new fiscal infrastructure to get the most out of the information
The key goals most organizations see from the review are…
Compliance with government, funder and audit requirements.
Establish an accounting system design that allows for financial reports that make sense and are useful to manage funding sources, programs and the organization overall and allow the organization to produce program results, identify needs and identify new funding opportunities.
Produce financial policies & procedures that protect the organization’s assets and provide efficient methods to process day to day accounting related transactions.
Create financial infrastructure and staffing structure that can support the needs of the organization at an affordable cost.