CFO Source Blog

How Our Financial Stress Test Works

May 13, 2024

Navigating the complex landscape of financial management requires a robust strategy to ensure stability and resilience, especially during challenging times. At CFO Source, we recognize the critical importance of stress testing in safeguarding against potential financial risks and uncertainties. Let’s delve into how our financial stress test works and why it’s indispensable for businesses aiming […]

Key Accounting Numbers to Guide Your Business

June 5, 2023

It’s not an understatement that small business owners carry a lot of weight on their shoulders. From sales and marketing to production, customer service, and overall financial management, small business owners have many responsibilities. Running a successful business requires careful monitoring and analysis of various financial metrics. These key accounting numbers provide valuable insights into […]

What is a CPA and Do I Need One?

March 5, 2023

A Certified Public Accountant, or CPA, is a professional who is licensed to practice accounting in their respective state after completing a rigorous education and examination process. They provide various accounting and financial services, including tax preparation, financial planning, audit, and assurance services. At CFO Source, we’ve been providing Marylanders with our CPA services for […]

Differences Between QuickBooks Desktop and QuickBooks Online

February 14, 2023

QuickBooks is a great tool for business owners to take control of their accounting. But they’re often faced with a difficult question: which QuickBooks is best for my business? QuickBooks Desktop Pro is the traditional accounting software that requires users to download and install on their computer. QuickBooks Online is a cloud-based accounting software. Both […]

What’s the Difference Between a Bookkeeper and an Accountant?

April 15, 2022

At CFO Source, we’ve been helping business owners in Maryland with both bookkeeping and accounting services for years, but a lot of times we find that most business owners don’t know the differences between bookkeeping and accounting. Since we have a good deal of experience with both, we wanted to outline both fields today. What […]

Annual Accounting Checklist

January 3, 2022

The end of the year is the perfect time to reflect back on the year that was, in both your personal and business life. At CFO Source, we work with all of our clients to help them wrap up their end of the year accounting. We wanted to take a little bit of time today […]

The Value of a QuickBooks Certified Pro

October 22, 2021

You likely know a good deal about your business. We should hope so, or else your time in business may not be too long. While you may know the ins-and-outs of your particular industry, you probably don’t possess the same level of expertise in the world of accounting. Here at CFO Source, we’ve helped businesses […]

How Can a QuickBooks Consultant Help an Independent Contractor?

August 2, 2021

Here at CFO Source, we have been providing Marylanders with our QuickBooks services for years and have helped hundreds of independent contractors and Maryland small business owners, and we can help you too. We wanted to take some time today to talk about how your business can benefit from using QuickBooks and working with a […]

5 Year-End Accounting Tips for Your Small Business

December 4, 2019

As 2019 comes to a close, you may be looking ahead to 2020 but your small business can benefit by taking some time at the end of the year to take care of some simple accounting tasks. It’s important to go into the next year with a good understanding of where your small business stands. […]

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 […]

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