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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.

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How to Calculate Your Profitability: A Case Study

CFO Simplified

This CFO Simplified client watched profitability slowly disappear—until they incurred a $125,000 loss. Manufacturing variances were caused by a variety of factors, but the summary general ledger (GL) postings didn’t provide an answer. . A CFO can help ensure your business’ profitability is at its best.

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Your Ultimate Finance Department Checklist

CFO Simplified

I [Larry Chester] once met a business owner who told me he had a small manufacturing plant outside Cincinnati. Mid-sized businesses benefit the most from hiring a fractional CFO. At this level, there is enough complexity that CFO services can positively impact business decisions. Company Size. What is a Large Company?

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Keep Proprietary Processes Secret

CFO Simplified

Bringing Value Through CFO Insights. 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. The general ledger layout is generic in nature. Initial Contact –.

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Comptroller vs. Controller: What Is the Difference?

Michigan CFO

Comptrollers report to the Chief Financial Officer (CFO). Financial controllers report to the CFO of their organizations. Some of their general responsibilities are highlighted below. Comptroller and Controller vs. CFO. A CFO is a higher-level executive that oversees the duties of both Controllers and Comptrollers.

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Dealing with Obsolete Inventory

CFO Simplified

For manufacturers, retailers, or wholesale distributors, inventory is likely the largest item on their balance sheet. Bringing Value Through CFO Insights. 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.

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Your Inventory Value Report

CFO Simplified

The President of CFO Simplified, Larry Chester , shares the importance of inventory value reports with us. . 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. .