Here at Lynch and Associates we also offer a Virtual Chief Financial Officer (CFO) service. This is a business advisor who becomes an extension of your own team providing strategic advice, financial management resources, best practice systems, analysis, reporting and supporting the needs of your organisation on a day-to-day basis.
Objectives of a virtual CFO:
- Book-keeping Role
- GST Returns
- FBT Returns
- PAYE Returns
- Review Financial Performance at Provisional tax dates
- Financial Statements
- Completion of Required Income Tax Returns
- Lower accounting and compliance costs
- More time to concentrate on what you do best
- Timely responses to accounting and commercial questions
- No tax issues arising – always compliant with tax laws
- Solid corporate governance in place with a known direction and plan
- Improved working capital
- No funding pressures
- Ongoing Value added to the business
- Accountability, ownership and responsibility in place at all times
- Fewer obligations as an employer
- Ready access to accounting and commercial expertise
- Specialist tax advice
- Strategic planning and forecasting
- Budgeting and cash flow management
- Capital Raising
- Corporate governance
- Return on Investment calculations and special projects
- KPI management
Currently we act as a virtual CFO for a few clients and this gives these organisations access to the skills and experience they need without having to take on the responsibilities of an employer.
The Virtual CFO model means that your organisation will have a dedicated team looking after its day to day needs - a team that is on-hand every day of the working week. This means the inconvenience of sick leave and annual leave is eliminated.
We look forward to discussing this idea with you in more detail.