A CFO is the finance member of the Senior management team, hence Chief Financial Officer. The CFO is focused on long-term financial strategy. Their primary responsibility is managing the finances, including cash flow and financial planning, management of financial risks, analyzing the company’s financial strengths and weaknesses and proposing corrective actions, record-keeping, and financial reporting. The CFO understands operations, tax situations, and employment issues and provides a sounding board for potential changes (trusted advisor). In some sectors, the CFO is also responsible for the analysis of data.
As a “CFO for Rent,” Ahmad and Mumtaz are able to take on a key role in your business, helping you with strategy development and specialized tasks in the following areas:
– Budgeting Advice
– Strategic Planning Expertise
– Customer Profitability Analysis
They offer many other services to “plug the leaks” and increase small business owner’s wealth while often also reducing their workload, which include:
– Management Accounting
– Strategic Planning
– Cost Accounting Expertise
– Customer and product profitability expertise
– Corporate and personal taxation
Historically there have been three different accounting designations in Canada; the CA (Chartered Accountant), the CGA (Certified General Accountant), and the CMA (Certified Management Accountant). To provide clarity to the accounting industry, in 2012, the accounting associations representing the three designations agreed to merge under a single designation, now known as Chartered Professional Accountants (CPAs) and work in a variety of different fields as auditors, taxation specialists, or providers of general accounting services and consulting to businesses.
Ahmad and Mumtaz lead a full-service accounting firm based in Oakville, Ontario, offering a broad range of services to meet the needs of businesses, entrepreneurs, and individuals in Oakville, and the GTA.