Determining the Need for Outside Controllership Services
Your company’s business cycle likely tends to fluctuate according to seasonal demand, industry/supply chain dynamics, economic conditions, or a host of other variables, and your accounting department likely feels the strain of these cycles when they’re at their peak. Are you aware of the signs and symptoms that may indicate your business could use outside controllership services?
10 signs you could benefit from outside controllership services:
- Month-end closings taking longer than a month
- Problems with cash flow management
- Numerous year-end adjusting entries
- Increased overtime in the accounting department
- High employee turnover in the accounting department
- Fraud, both from internal and external sources
- Current or previous CRA audit(s)
- Lack of attention to budgeting and forecasting
- Lack of adequate information for pricing decisions
- Lack of cost/benefit analysis in decision making
If your business is suffering any of the above symptoms or you’re experiencing periods of accounting stress during your business cycle, we’re Mew and Company, your Vancouver Chartered Accountants, and we’re here to help!