cfo-consulting-services

Thomas Huckabee CPA, in San Diego provides outsourced or part-time CFO Consulting Services to small and midsized, private and public companies.  At Thomas Huckabee CPA, we strive to protect and enhance the financial stability and state of your company.  We are experts at communicating clear, concise and understandable solutions to and for a variety of complex corporate issues such as mergers and acquisitions, sell-side preparation, post-merger implementation, risk management, technical accounting and overall financial process services.  We operate as your interim CFO or Controller while your company expands and grows to the point where it is large and financially secure enough to hire a permanent in-house CFO and/or Controller.    Ever wonder how successful, growing companies have the time and money to maintain a full internal accounting department? The secret is that many of them don’t. Today, businesses are frequently utilizing outsourced CFO services to save resources and streamline their operations.

A High-Level Description of our Different CFO Services & Capacities

Advisory CFO Services
outsourcing-cfo-benefitsThomas Huckabee takes on a role similar to a consultant whereby we act as a board of advisors to your company’s existing CFO; this is similar to how a CEO would consult its board of directors for assistance with major decisions. Because the CFO role manifests itself in a variety of different ways, with many complexities, we consult with your CFO to make more sound financial choices.  Our fees are competitive, so the capacity of an advisory CFO service with Thomas Huckabee can be compared to a high value added service at a reasonable cost.  

A CFO is different than a small business controller, which the controller is usually the company’s head of accounting and therefore also has a historical perspective. A CFO consultant’s job is to focus on today, how do we manage and structure your company in order for it to grow. Also looking at how the company is setup today is a concern as well as interacting with shareholders and bringing in new equity and funding opportunities.   Though we act in a way that a CFO does, our controller experience also helps us to look at the numbers historically to make predictions as well as carry out CFO functions to bring in funding today. 

Outsourced CFO Services  

The outsourced variety of services that Thomas Huckabee offers is utilized for tasks that require a high level of degree of expertise in certain areas.  Generally speaking, these are tasks that are needed and completed annually or the like.   One instance where this service can be used is in certain situations where it is not always cost effective to hire a full-time CFO because a task needs only to be filed on a quarterly or annual basis.  Filings such as 10-Ks, 10-Qs,  S-1s, S-4s, and 8-Ks, all used for SEC reporting, would fall under this umbrella of services.  

A Specific Look at our CFO Service Areas

Technical Accounting Services

Our technical accounting services are geared towards assisting companies when a financial issue arises which requires a high degree of technical understanding.  This type of service is especially beneficial for companies with slightly limited budgets. Services that fall into this area include:  

  • Pre Audit Financial Statement Preparation
  • Financial Restatements   
  • Technical Accounting     

Business Analysis        

Thomas Huckabee’s financial process improvement and business analysis function is designed to increase shareholder value.  Shareholder value or ROI is enhanced by reviewing various processes used to streamline the flows of information for decision making. Services that fall into this area include:   

  • Advice on creating effective budgeting, forecasting and management reporting processes
  • Work with improving monthly, or the similar, closing process for accuracy and timeliness
  • A thorough review of expense allocations, pricing policies, cost controls and other factors that improve profitability     

Entrepreneurial Services

Startup and smaller sized companies need revenue and profitability to achieve their desired bottom line.  We achieve this by providing the following services:  

  • Cash flow forecasts
  • Outsourced CFO services
  • Mentoring the accounting department
  • Establishing banking relationships   
  • Creating business plans to access capital   
  • CEO Financial advisory services
  • Suggesting introductions to sources of equity capital   

Merger & Acquisition / Liquidation Transaction Services

We advise and assist companies looking to sell or get acquired by looking at the attributes and tools the company will need to receive a “fair market” valuation and to help move the closing process along more efficiently.  This role can be very critical because if a deal does not move at a fast enough pace, or if the company does not have its “financial house” in order, valuations can become depressed or simply implausible.  In typical M&A transaction, we can:

  • Use a business unit driver to forecast results
  • Advise a company CFO or CEO and other managers during the sale process  
  • Develop pre-audit work papers for sale preparation   
  • Analyze past results such as gross margins, revenue growth rates and returns on assets        
  • Provide an elite referral network of trusted advisors    
  • Gather all relevant documents that will be asked from a potential acquiring firm
  • Make Introductions to sources of capital   

Companies turn to Thomas Huckabee CPA to enhance their finance accounting team without committing to a full-time chief financial officer or to fill a interim CFO or accounting position.