Founded in 1970, SouthLight Healthcare is a premier provider of Substance Use Treatment and Mental Health Services for the Triangle area. Mike Florio is very pleased to be working with the team at Southlight. Please read more about the mission and commitment to providing holistic healthcare solutions for clients at https://www.southlight.org.
We are excited to have Larry Woolhiser join the Rankin McKenzie team. His 25 years of financial leadership, experience with entrepreneurial, high growth, and transitioning healthcare and technology companies is a great addition to RM.
Larry’s hands-on experience in all aspects of leading and managing a business from start-up, through the high growth phase to a successful strategic exit will serve RM clients well. Also, his understanding of financial planning and analysis, budget modeling, strategic planning, cost management, cash-flow optimization within a leveraged environment, private equity and debt financing and acquisition integration will make him a great resource for the team and our clients.
Please click to learn more about Larry and his experience.
Business owners of any size need a financial bench that can accommodate their ever-changing needs – everything from bookkeeping, tax compliance and reporting, to revenue forecasting and long-term financial strategy. There is a common misconception among small and medium-sized business owners that an external CPA firm and the role of a Chief Financial Officer (CFO) are interchangeable, but this is far from the case.
A CPA firm is typically more tax and audit focused while a CFO is more focused on an organization’s internal long-term financial strategy, which includes forecasting, budgeting, cash flow issues and more. While the external CPA firms and CFOs are financial experts, they have vastly different specialties and roles. It is critical to your business, regardless of size, that you understand the difference.
- External CPA Firm Certified Public Accountants– One of the greatest benefits a CPA firm will bring to your business is their knowledge of tax law and compliance. The firms experience is geared toward providing tax advice, looking at your company from a macro level, and offering external advice on a quarterly basis.
- Chief Financial Officers– A CFO’s primary function is the exact opposite; they are an internal resource to examine your business at a micro-level, offering weekly guidance on the company’s financial goals, pricing models, and the best ways to allocate resources like capital, people, and equipment to bring the most revenue in.
Companies that utilize a CPA firm and a CFO have both ends of the spectrum covered. And growing a business requires both of these roles to facilitate collaboration and establish a connection between past activities and future strategy. In the best-case scenario, CFOs work very closely with CPA firms to ensure that the company is moving forward financially while saving as many tax dollars as possible.
Many small-and medium-size businesses believe that employing a full-time CFO is an impossibility because of budget. But that doesn’t mean you can’t benefit from the services of a fractional CFO. A fractional CFO allows you to receive the expertise of an experienced CFO on a part-time or contract basis. This model is significantly less expensive than hiring a full-time CFO but still provides you with you a level of expertise and insight that would otherwise be unavailable. Contact us at [email protected] to learn more about Rankin McKenzie’s fractional CFO services.
5000 Centregreen Way Suite 500
Cary, NC 27513
- Meet Rankin McKenzie’s exciting new client – Lane & AssociatesJuly 22, 2019
- RM excited to add My Hot Lunchbox as a clientJuly 18, 2019
- Meet Rankin McKenzie’s exciting new client – ImagineOptixJuly 15, 2019