An Experienced Controller to Manage your Books
It is critical for businesses to have an experienced Controller who ensure accurate transactions and implementation and enforcement of proper controls. When you can trust that your accounting functions are being properly managed, you can focus on analysis and business decisions.
Accounting controls are methods and procedures established to safeguard assets, authorize transactions, monitor payments and ensure the accuracy and validity of accounting records.
Considering the high rate of fraud, and subsequent loss of money occurring within companies of all sizes, it is more important than ever to properly manage your books.
According to the ACFE’s 2012 Report to the Nations Fraud is Occurring at High Rates:*
|Organization Size||Fraud Incident Frequency||Median Loss|
|< 100 employees**||31.8%||$147,000|
Fractional Controller Services
CoEfficient Services offers Controller Services on a fractional basis so that you pay only for the time you need.
- Implementation of basic financial and accounting systems
- Accounting department management
- Can sign checks prepared by bookkeeper
- Signs tax returns
- Creates the more difficult journal entries
- Prepares Financial Statements
- Approves customer credit limits
- Processes payroll
- Can coordinate with external Certified Public Accountant (CPA) on tax returns, compilations or audits
- Implements polices and procedures
In addition to the daily accounting management duties, an experienced Controller also helps companies minimize business risk by:
- Creating budgets
- Handling insurance and risk management
- Recommendation solutions for safeguarding assets
- Inventory overview with assistance
- Creation of board documents
- Unbiased and unemotional advice from somebody who is not within your company on a day-in and day-out basis
Do you wonder if you are focusing on your growing your most profitable sources of revenue? Or wonder if you are overspending on administrative expenses?
Our Controllers can analyze your books, Financial Statements and provide valuable financial insights and recommendations for improvements that will lead to bottom line results.
Bottom line, a Controller helps create business continuity. When you hire CoEfficient Services, you will have a dedicated resource with a minimum of 5-10 years of experience managing your accounting, helping you minimize risks and providing valuable financial insights to help you better manage your business.
*According to the ACFE’s 2012 Report to the Nations, estimated median losses for small organizations — those with fewer than 100 employees — that experienced a fraud were $147,000. The report indicated that small organizations are the most common victims in fraud instances at 31.8 percent — the highest rate of any business size category. (For example, organizations with 100 to 999 employees had a fraud incident frequency of 19.5 percent; 1,000 to 9,999, 28.1 percent; and 10,000 plus, 20.6 percent.)
**The five most common fraud schemes for organizations with fewer than 100 employees in the ACFE report were: billing fraud, corruption, check tampering, skimming and expense reimbursement fraud. Corruption schemes deal with crimes such as bribery, illegal gratuities and kickback arrangements. The largest number of perpetrators in the entire study, 41.5 percent, had been with the organization between one and five years, most of them had a college degree and worked in the accounting area.