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Financial Control
New and emerging company having difficulty in controlling excessive growth.
Situation:
Real estate company experiencing tremendous growth in a downward trending housing market. Due to the level of growth and the ever-expanding day-to-day operations, current ownership cannot keep up the pace to efficiently manage the company. Delinquencies in most areas of government taxing authorities lead to undue personal and business stress.
Action:
Appointed as CFO/controller of the real estate company to aid in financial control. Responsible for fiscal direction and accounting oversight. Determined a listing of priorities to bring control back to ownership.
Results:
Began to work on completing past business and personal tax returns. Implemented an efficient record keeping and accounting system to monitor financial results. Owners can now have less stress in knowing that the key areas of their business have an unbiased advisor to aid in decision making. Continue to set up a system that allows less owner involvement so more time can be spent on revenue producing activities.
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