What is Virtual CFO Services?
We at BIAT consultant provide such services to many recognised companies. The services include complete oversee of finance, accounts functions, oversight of various financial plans, and also support to the clients team and management.
Cash flow projections- It is done to ensure the cash inflow in a company.
Manage Cash Flow- It is important to understand the cash flow management in order to properly utilize it.
Budgeting- Setting budget is a very important step and then evaluating it periodically.
Debtor and creditor Management- It is an important stp in order to mitigate the credit risk.
Setting up an Accounting system- Evaluation of existing accounting system and make recommendations for improvement.
Maintenance of accounting records- Virtual CFO system helps in maintaining accounting records as per accounting standards.
Financial Analysis- It helps in analysing financials of the company which helps in making decisions for the growth of the business.
Budgeting- Budgeting is again a very important feature of virtual CFO services. It helps in planning cash flows in the business.
Financial Projections- Financial projection is concerned with the forecast of revenue and expenses. It involves predictions of cash requirement as well as resource requirement.
Cash flow projections- It helps in analysing the cash flow of the company. This helps in making plans as per the cash requirement to meet the obligations.
Improve profitability- It helps in reducing wastage of resources.
Risk assessment- virtual CFO identifies the risk and makes decisions to mitigate the risk.
Organizational structure- It makes changes in the organizational structure as and when required for progress of the business.
Growth Plan- virtual CFO manages the financials of the company which helps in growth of the business. Through this it helps in identifying the requirement of funds in the company.
Cash flow forecasting- The other main services of virtual CFO is to forecast cash flows. Businesses must have a better understanding of cash position to make the right decision.
Budgeting- It includes budgeting. It helps in tracking performance of the company and helps the company to grow.
Break Even analysis- In this total cost (Fixed Or variable) is compared with the revenue to determine a point where business neither makes profit or loss.
Accounting functions of the organization- Accounting functions are the integral part of every business. It is a mode which helps in assessment of organizational financial accounting health checks.
Compliances of the various acts applicable- Under this end to end solution will be provided by the virtual CFO as per the provisions of Companies Act, 2013.
Corporate Governance- It makes a balance between the interest of stakeholders, shareholders, management and clients.
Cost management- It helps in proper planning to minimize the cost of the company. Virtual CFO helps in determining the operating efficiency.
Debt Planning- Virtual CFO makes a proper debt planning to achieve the desired goals.
Year end account closure and filing- It ensures the annual filing of financial statements on time.
Audit support- End to end audit support is provided by the virtual CFO by solving queries raised by the auditors.
MIS reporting- Virtual CFO is responsible for providing timely and accurate information regarding the financial health of the company in MIS reports.
Accounting policies and procedures- A well maintained accounting policies helps in enhancement of accountability and consistency in the organization. It further helps in formulating and implementing well defined accounting and management in the organization