Businesses can get into financial trouble for a variety of reasons including poor business models, operational issues, changing economy, etc. Poor accounting should never be one of them! The purpose of finance and accounting is to support the business by providing meaningful and accurate financial information to allow business owners to make informed business decisions day in and day out.
What Is Rescue Accounting?
Most people go into business because of an undying passion for an idea. Their passion generally isn’t accounting! In the very early stages of a business, the owner(s) are generally wearing multiple hats and the accounting responsibility falls on the shoulders of whomever draws the short straw. When the time comes to hire somebody, many times the individual isn’t properly trained, experienced or has a handful of additional responsibilities that they enjoy more than accounting. In either scenario, the accounting function is undervalued and many times mismanaged. Sometimes a successful, growing business can outpace the capabilities of their internal accounting team no matter how talented they may be. This tends to lead to the same types of accounting issues and chaos on a larger scale.
Using our virtual CFO and outsourced cloud based accounting services team, we can help turn your business around. We’ll allow you to begin focusing on running and growing your business while we do what we do best!
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