CFO Source Blog

3 Reasons to Hire a Business Consultant This Year

March 4, 2020

No matter what kind of business you have or what industry you’re in, running a small business in Maryland is difficult and you need all of the help you can get. Whether your business needs help with Quickbooks, financial management, decision making, or taxes, you can get help by working with an experienced Maryland business […]

How Can You Stay on Top of Your Business’s Finances?

September 4, 2019

Managing all of the aspects of your company can be overwhelming. Don’t let managing your company’s finances be a responsibility that gets pushed aside or neglected. Instead, follow these tips to make a typically time-consuming business task more efficient. Tips for Managing Your Business’s Finances Categorize Your Expenses – In order to better visualize and […]

What is ‘Going Concern’ in Your Business?

July 2, 2019

No, that’s not a typo. The term is ‘going concern’, but what exactly does it mean? Simply put, going concern is an accounting term for a company that has the resources necessary to continue operations for the foreseeable future (usually at least 1 year). In other words, it means that a company is able to […]

Are You at Risk for Employee Fraud?

June 3, 2019

When we think of business fraud and corruption, we usually think of scandals at the top by large companies and big name people; Bernie Madoff and Enron come to mind. But in reality, small and mid-sized businesses are actually more susceptible to fraud, and the effects can be even more devastating. Of course you never […]

Outsourcing Your Financial Management for Results

May 2, 2019

There are many decisions that small business owners have to make. Where should I place my business? How many employees should I hire? What prices should I set? One more question we find many small business owners asking is “should I outsource my accounting?” There are benefits to both having an in-house accounting department and […]

Investing in a Bright Future for Your Business

February 1, 2019

To call something a business versus calling it a hobby comes down to whether or not you’re generating revenue. At the end of the day, that’s what makes a business well, a business. So, whether you’re looking for a huge amount of growth, or you’re just looking to get back on track, your business’s financial […]

Does Your Bookkeeping Need a Refresher?

November 1, 2018

Running a business is a complex venture with lots of different angles to consider. When you’re directly involved with running your business, the accounting processes can sometimes fall to the wayside when you’re bogged down with client meetings and other daily operations. Here are a few signs that you need to hire professional bookkeeping services […]

Do You Need Business Guidance?

September 4, 2018

If you’re running a business, then you probably know what you’re doing. You’ve built your brand up from nothing or carried on a long legacy. However, even the most seasoned business professional needs a little guidance from time to time. The question is: Do you need business guidance? Financial Insights Offer Fresh Perspectives Sometimes, when […]

Why Complete a Financial Stress Test?

March 5, 2018

Small business owners are often looking for ways to grow their business, increase sales, expand services, etc. But rapid growth comes at a cost, and without being properly prepared you could end up with a mess on your hands. By completing a financial stress test you can quickly and efficiently discover potential areas of struggle, […]

What is Needed to Support Significant Business Growth?

February 5, 2018

When a small business experiences rapid growth, there are certain systems that need to be put in place to support that growth, and encourage further growth. But what things are essential, and what things can hold off while the essentials are put in place? Let’s look at some of the systems and infrastructure that are […]

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