article thumbnail

Welcome Scott Goodrich

Focus CFO

Scott has more than 20 years of diverse Finance and Accounting leadership experience spanning companies of all sizes and across multiple industries that include manufacturing, distribution, and professional services.

article thumbnail

Keep Proprietary Processes Secret

CFO Simplified

Business – Manufacturer of industrial models. One made stock models that were sold from a catalog, and the other produced structural prototypes of critical manufacturing components for major corporations. Financial Reporting and Accounting. The general ledger layout is generic in nature. Sales – $11,750,000.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Your Ultimate Finance Department Checklist

CFO Simplified

It’s easy to grow without noticing that your finance and accounting department is stretched far too thin. From overworked staff accountants to controllers running month-end closes, a poorly structured finance, and accounting department can put strains on your business’ growth. Roles and Responsibilities. Company Size.

Finance 52
article thumbnail

Comptroller vs. Controller: What Is the Difference?

Michigan CFO

In the United States, a comptroller is a senior-level executive in charge of an organization’s accounting operations in the public sector. They all play vital roles in the financial industry, overseeing revenue estimation, accounting, tax collection, treasury, etc. Some of their general responsibilities are highlighted below.

article thumbnail

Dealing with Obsolete Inventory

CFO Simplified

For manufacturers, retailers, or wholesale distributors, inventory is likely the largest item on their balance sheet. Business – Dress Manufacturer. The company also started a sportswear line, but that didn’t sell due to a significant manufacturing error in incorrectly sizing the items. Bringing Value Through CFO Insights.

article thumbnail

A Platform for Every Dynamic Plan Your Business Needs

Planful

Financial planning is built around general ledgers, accounts, journal entries, cost centers, debits and credits. An income statement prepared for a global manufacturing conglomerate is very similar to one prepared for a local retailer. That’s because finance is fundamentally structured.

article thumbnail

Your Inventory Value Report

CFO Simplified

If you’re a manufacturer or a wholesale distributor, you should be comparing the value in that inventory value report to one line on your general ledger, and that’s the value of inventory. . It is important to reconcile this report with your general ledger to make sure that the numbers are correct.