Posted by: Don Noskowiak in Articles
The delay of the Employer mandate affects those companies with 50 or more full time employees. Those of you with less than 50 full time employees are not affected by this, but your employees who don't have coverage must still comply with the individual mandate to purchase coverage or pay a fine. The individual mandate, which requires all individuals without insurance to purchase it by January 1, 2014 as well as the the opening of the Exchange by October 1, 2013 have not been delayed. Those required to buy insurance under the individual mandate are eligible for tax credits to subsidize their premiums. Because the reporting requirements have been delayed, the Treasury will not have accurate data to assess whether and to what extent an individual is eligible for tax credits...stay tuned, further changes or delays may be in the works...read more...http://www.cgma.org/magazine/news/pages/20138268.aspx
Posted by: Ken Saddler in Testimonials
My wife, Ronni, and I met Ken while reaching out for a well qualified B2B CFO in the Twin Cities about 3 years ago to assist us in the preparation of selling our artisan gourmet snacks business. We were truly grateful to have selected him based upon his extensive background in manufacturing, accounting expertise and experience, and excellent communication skills.
Within a few months after implementing better accounting practices and overseeing a 3rd party annual financial review, we asked Ken to become the quarterback of our subject matter experts team (M & A Executive, Attorney and CPA), as we moved forward in seeking a potential qualified buyer. It took 3 years for us to reach our goal. Ken was very instrumental in keeping the team very focused and our financials in excellent shape, which shortened the due diligence time spent by the buyer. In addition, his valued input and feedback and business leadership were instrumental throughout the entire process.
Over the past years Ken has become a valued confidant and close friend. I would recommend him to any company large or small that is looking for a CFO. He will bring a strong skill set, years of accounting experience, and a “go the extra mile” attitude to accomplish your goals while improving financial processes.
Chief Operating Officer
Gracious Gifts, Inc., dba FunkyChunky
Posted by: Rick Perrin in Testimonials
To All Concerned:
I highly recommend Mr. Rick Perrin as a qualified, experienced B2B CFO. Rick is currently consulting with our company as a B2B CFO. Rick was, and is, responsible for modifying, streamlining and refining all our internal company; accounting, costing, and financial activities.
Rick has excellent communication skills. In addition, he is extremely organized, reliable and very computer literate. Rick can work independently and is able to follow through to ensure that the job(s) gets done. He is flexible and willing to work on any project that is assigned within the scope of what could be expected of a CFO. Rick was quick to volunteer to assist in other areas of any of our company operations, as well.
Rick would be a tremendous asset for your company and has my highest recommendation. If you have any further questions with regard to his performance or dedication for improving accounting or finance requirements, please do not hesitate to call me.
President & CEO
2227 South St.
Racine, WI. 53404
Web Site: www.Marlo-Inc.com
Posted by: Don Noskowiak in Testimonials
Don served as interim CFO at The Hudson-Sharp Machine Company. We were in a sale process with significant financial due diligence work required especially in the area of tax, including international tax, working capital, and insurance issues. Don did an exceptional job and has great M&A experience.
Posted by: Jim Merski in Testimonials
I met with Jim shortly after he joined B2B CFO®. I knew Jim as a professional Chief Financial Officer and a CPA. As he explained the B2B CFO® business model, the Game Plan -- I thought there may be value for Altair. I asked him to complete the first step of the process: a Discovery Analysis. At the presentation of the Discovery Analysis results, I was extremely impressed with the quality of information and the level of detail. Jim presented both financial & operational analysis in a “current situation” versus “desired situation” gap model. The Discovery Analysis as well the interview process underscored both operating challenges I was aware of, but also brought to light issues that I had not seen. There was real value for Altair and for me. I know that I can count on Jim. He has significant expertise in accounting and financial management along with a "can-do" attitude and willingness to put in the hours needed gets the job done.
The result of the Discovery Analysis is that I have engaged Jim and he’s addressing specific initiatives for Altair. I’ve seen an immediate “value added” from the B2B CFO® process and plan to continue to consult with Jim as “Altair’s CFO” on an on-going basis.
Chuck Peters, Managing Partner – Altair Holdings, LLC.
Posted by: Jim Merski in Testimonials
CE Convergence is an emerging accounting-software technology company. CEC is relying on Jim to help with a range of CFO services including: Implementing our strategic plan; reviewing and updating cash flow and financial projections; and developing and disseminating financial & operating reporting to CEC's lender and other stakeholders. From my experiences with Jim, it is clear that he brings extensive financial expertise and a depth of business experience and practical knowledge from 30+ years in financial management in small business. He has hit the ground running and has already made a positive impact on the development of the CEC business model.
Steve Overholt, Chief Operating Officer
Posted by: Randal Suttles in Articles
One of my clients provides specialty products to the military. My client designs and engineers the products. They contract out the manufacturing. Their core competency is the concept, the design and then specifying the engineering to their sub contractors. And oh, by the way, my client needs very limited investment in machines, so low leverage. A very profitable and fast growing company.
At the health insurance company where I worked, we knew that our core competency was underwriting and fast claim payment. So we did all of that internally. For other specialized industry work (actuarial, investments, legal) we maintained limited in house staff whose role was to oversee outside experts in these specialty areas. We focused on what we were good at and what was critical to our success. It worked.
Last example. One of the Firms that I have worked with over a number of years, specializes in the QuickBooks accounting system. They provide an outsourced bookkeeping/QuickBooks service to both large and small clients. There are a number of accounting systems that compete with, and provide similar financial reporting. The owner of the Firm is very clear. I asked her if her staff would handle non-QuickBooks accounting systems, if the need arose. Answer: “Absolutely not. We do QuickBooks. We do QuickBooks well. We will help them find someone who will work with their system. But we do QuickBooks. That’s all we do.” She’s right. They do QuickBooks, and well.
Stick with the core competency, outsource the rest. It works. Well.
Posted by: Andrew Freeman in Testimonials
As our part time CFO, Joanie had the ability to make us more efficient which saved us money. She is well liked and able to communicate from the clerical to the CEO, thus having everyone’s trust. She will tackle any assignment as she has a vast knowledge and experience in a multitude of differing businesses and situations. Her ethics are “above reproach” . She and I have forged a friendship, and business relationship that will stand the test of time.
President and Owner
Dunhill of South Birmingham
Posted by: John M. Blackstock in Testimonials
Having John on board not only gave me confidence, but I have also seen a dramatic improvement of our processes as well as an incredible boost in our cash flow. My only regret is not having found John sooner!
Posted by: Peter Derrick in Testimonials
As a co-founder, Board member and the largest shareholder of Sun Farm Network, I have known Peter Derrick since he became our CFO in December of 2009. Throughout the period I found him to be highly knowledgeable about all matters of corporate finance, always demonstrate the very highest standards of professional behavior, and be entirely straightforward and completely honest. At SFN he faced serious difficulties due to the financial conditions in the solar energy industry and the wider economy generally. He also became enmeshed in very difficult situations within the company, stemming from irregularities that he discovered as CFO, and handled the many delicate and sensitive issues that resulted in a wholly professional manner. He maintained full support of the Board at all times. Sun Farm was threatened severely at numerous junctures and quite simply would not have survived were it not for Peter Derrick’s skills, knowledge and manner. Trusting his judgment completely, I have no hesitation in recommending Peter Derrick for any position he seeks.
Richard L. Oram
Chairman, Oram Foundation, Inc.
Fund for the Environment and Urban Life
Board Member Sun Farm Network