Fractional FD role/non-executive director
For those businesses where an FD is needed, but they are not at that point where a full time director is required, I can undertake continuing or ad-hoc appointments, looking after the detail and allowing owners to focus on the overall strategic direction of the business.
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In smaller businesses the role can involve assisting owner managers in understanding and interpreting accounting data, identifying the key performance indicators and how these can be monitored and acting as a sounding board as they explore ideas to manage and grow their business. ​
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Having worked with many businesses over a 37 year period I have a wealth of experience and wide network of contacts I can introduce if specialist expertise is required.
Business planning and forecasting
I can provide input, direction and support in the formulation of plans for the future, considering growth strategies, succession, possible exit routes and the adequacy of current accounting and business information streams in producing information which will stand up to due diligence.
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Translating the business objectives into a formal plan and financial forecast, I will assist you in identifying whether the objectives of the business are affordable, or highlight further funding requirements. I will assist you in monitoring progress against the plan and taking appropriate actions.
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Owners and directors of businesses can be so immersed in day to day activities, they don't always know what each others' objectives are. I can facilitate strategic planning sessions and help stakeholders pool their ideas and identify where objectives are not aligned, helping the stakeholders to establish common ground and identify how differences in opinion can be accommodated.
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Accounting process review
Are your accounting processes fit for purpose and future proof?
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I can assist businesses wishing to implement reporting structures and processes and identify where the use of latest technologies can be maximised to give owners the information they need. I will review your finance function to assess its effectiveness and the adequacy of processes and controls in producing relevant and accurate information for decision making.
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The key lies in ensuring your systems are telling you what you need to know.
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A plan can be developed, identifying the priorities and how the most pressing needs to address shortfalls in current processes can be addressed in a pragmatic way.
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If your business is in its embryonic stages I can assist you in designing processes and controls. If the accounting function has got out of hand, I can help you unravel the mess!
Building a Team
I have managed team members for most of my career and can assist businesses in developing key team members, identifying how skill sets can be improved, how the soft skills can be honed and sharing my experiences in dealing with situations, discussing possible approaches each individual can adopt to suit their own personality as they develop as business leaders.
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I can work with you in defining roles, structuring and mentoring your team, and discuss ideas to retain staff, also identifying any associated accounting and taxation implications where specialist advice may need to be sort.
Becoming audit ready
I can work with businesses preparing for statutory audits, providing accounting advice, facilitating the dialogue with auditors, helping to identify potential issues and solutions before they become time critical and minimising the impact of an audit on a business's team. With the increasing regulatory pressures on auditors, the burden on the business being audited ever increases and that bit of extra assistance can alleviate the impact on resource constrained businesses.
Accounting and financial reporting support (including new UK GAAP)
I can help you consider the impact of accounting treatments on your financial statements, assist you in producing board papers and drafting notes for inclusion in your financial statements.
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With an increasing number of private equity backed transactions, finance functions can find themselves in uncharted territories. A new CFO appointment will address the principal needs of the newly acquired business. However, with new corporate structures in place, share incentive schemes for a new management team and the valuation of intangible assets to consider, these are areas which need attention, ideally as soon as a transaction has been effected. I am able to provide guidance to businesses in terms of what to look for and how to address the likely areas which will be of importance to the auditor.
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In light of recent changes to UK GAAP, businesses will need to consider their revenue and lease accounting. I can assist you in identifying the impact of these changes on your financial results and how to approach the transition, focusing on the wider reaching implications on taxation and banking covenants and ensuring that financial statements fully explain the impact to an uninformed reader.