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First Things First: The ABCs of Core Financial Operations

  Arthur F. Rothberg, Managing Director, CFO Edge, LLC  
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  Article Summary  
It’s an old cliché, but it’s true: You have to learn to walk before you can run. This comes to our minds sometimes when Los Angeles and Southern California business leaders ask us to help them with advanced financial initiatives like making financial projections, performing cost analysis and managing inventory. All too often, we soon discover that these clients have not yet covered the basics of business financial operations. Or in other words, they’re trying to run before they can walk.

Discussed are the key elements at the heart of financial operations and precursors to advanced initiatives: the accounting system, the books and the chart of accounts.

When it comes to financial operations, Los Angeles and Southern California business executives need to learn to walk before they can run. This means making sure that your operational ABCs - Accounting System, Books and Chart of Accounts - are covered before you try to move forward with more advanced financial initiatives. An outsourced CFO services provider can help you get your core financial operations in order so you can increase the financial sophistication of your business - and boost your overall financial performance.

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