If you love unpleasant surprises and your default financial management technique is ‘flying by the seat of your pants’ – this time of year is especially exhilarating.
Late January / early February usually gives the most bang for your buck in terms of adrenaline rush, when trying to meet your payroll / super obligations.
Maxed out overdrafts and credit card facilities hit you like a X-mas party hang-over and delays in commencing projects just compound the headaches. A Berocca might fix your party hang-over but not your cashflow woes.
Of course, the alternative is to understand your strategic drivers, know if you are on track or not and have faith in your forecasts. This is the expert domain of a Virtual CFO
Virtual CFO’s use budgets, forecasts and cashflow plans to help make informed strategic decisions about the future, which keep you on-track and allow you to see where you are headed.
David Dillon is the President of the Virtual CFO Association.
The Virtual CFO Association is an elite peer network, advocating and promoting the emerging Virtual CFO sector within the accounting profession. Collectively the association currently has almost 600 years of industry experience, with highly qualified and experienced specialists spread across more than 20 industry verticals. If you would like any more information regarding the Association of Virtual CFO’s, please visit our website www.vcfoassociation.com.au