Compass

A discussion on business and corporate culture

The new year is here, what should I be doing differently
Strategic Planning, Budgets, Forecasting, Fractional CFO, Financial Reporting, Fractional COO, Accounting, Montly Financial Package, KPIs John Mortenson Strategic Planning, Budgets, Forecasting, Fractional CFO, Financial Reporting, Fractional COO, Accounting, Montly Financial Package, KPIs John Mortenson

The new year is here, what should I be doing differently

Now that the new year is here, Chief Financial Officers (CFOs) are faced with a crucial period for setting the financial trajectory of their organizations. The beginning of a new year is an opportune time for CFOs to strategize, plan, and ensure financial resilience. Actually, Q4 is the best time to address these issues but if you haven’t done these yet there’s still time…but not much

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Navigating Success: The Crucial Role of Founders in Month-End Financial Reviews
Financial Reporting, Fractional CFO, Fractional COO, Montly Financial Package John Mortenson Financial Reporting, Fractional CFO, Fractional COO, Montly Financial Package John Mortenson

Navigating Success: The Crucial Role of Founders in Month-End Financial Reviews

Owners and founders frequently overlook the importance of closing the books at the end of each month and reviewing financial statements with their management teams. However, this is a crucial function that can provide valuable insights into business operations, such as identifying which processes are effective, determining the most profitable products or services, and ensuring that the company is on track to achieve its strategic goals. Neglecting this process may result in missed opportunities for improvement and growth.

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The Importance of KPIs
KPIs, Budgets, Financial Reporting, Strategic Planning, Accounting, Fractional CFO, Fractional COO John Mortenson KPIs, Budgets, Financial Reporting, Strategic Planning, Accounting, Fractional CFO, Fractional COO John Mortenson

The Importance of KPIs

How do you know you are on track to meet or exceed your company’s goals? Financial Statements are lagging indicators; they tell you what has happened in the past. Good KPIs can be leading indicators, showing you where your ship is headed. When the goal is lettuce…and your team produces carrots, be prepared to steer the ship back on course.

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