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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

Manufacturing variances were caused by a variety of factors, but the summary general ledger (GL) postings didn’t provide an answer. . Understanding the cause was the first step to returning to profitability. The Solution.

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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. The general ledger layout is generic in nature. Location – Northern Illinois. Sales – $11,750,000.

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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. 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.

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Comptroller vs. Controller: What Is the Difference?

Michigan CFO

Some of their general responsibilities are highlighted below. By keeping accurate records of financial transactions with a general ledger, comptrollers and controllers can monitor cash flow and manage finances effectively. CFO for Manufacturing Companies. Deep experience in the manufacturing industry.

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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. Bookkeepers will receive invoices from suppliers and after getting proper approval, will enter those invoices—properly coding them to make sure that the charges are correctly applied to the correct general ledger account.

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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.