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What To Do When "the Numbers Don’t Make Sense"

 
  Arthur F. Rothberg, Managing Director, CFO Edge, LLC  
   
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  Article Summary  
Have your Los Angeles and Southern California small business clients ever asked you for help in managing their finances? Such a request is not uncommon for professionals like bankers, investors and financiers as small business owners and executives often share their financial statements and books with them.

Unfortunately, it's also not uncommon for the numbers in these financial statements and books to be inaccurate, inconsistent and, to put it bluntly, often not make any sense.

This article looks at the impact that inaccurate numbers can have on securing business loans or equity investments; on passing a financial audit; on merger or acquisition completion; and on tax consequences. Also discussed are root causes of problems with financial data, as well as ways to address them.

When your clients ask you for help in managing their finances, the first thing to determine is whether or not their numbers make sense. If they don't, you may need to bring in an outsourced CFO services provider to help straighten out the numbers before action can be taken to help the client improve financial management.

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