Fractional CFO support is an engagement for selected financial planning and management tasks. Begin with the business's records, decisions and reporting needs, then agree which work is included and who reviews it.
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CFO budgeting and forecasting scope
Identify the period, cash balances, expected receipts and planned spending used in a forecast. Label assumptions and compare later results with the forecast. Agree how often the model will be updated.
CFO management reporting scope
Discuss the accounting records and measures relevant to the business. Identify each report's period and data cutoff, how calculations are defined and who checks the results.
Requests from lenders or investors
Organize the business's existing financial records and supporting schedules for discussion with the intended lender or investor. Ask the recipient what documents it needs before agreeing on the work.
Working with existing staff and software
List the systems, subscriptions and reports involved. Confirm compatibility, responsibilities and document-exchange arrangements before setup. Agree separately on work with another adviser.
Confirm the CFO engagement
Identify the deliverables, target dates, review meetings, client inputs and fees in writing.
Additional tax and recordkeeping considerations
Fees depend on the scope, reporting cadence and complexity of the engagement. Compare a written proposal with the full cost and responsibilities of an employee finance role before deciding which arrangement fits your business.
The time needed to develop useful reports or forecasts depends on record quality, system access and the agreed deliverables. Agree reporting and forecasting milestones in the written engagement before relying on a delivery date.
Florida tax scope: Florida has no individual income tax; corporate income/franchise tax can apply. Review the individual income tax guidance and corporate tax guidance from the Florida Department of Revenue for your entity.
Related services and resources
Bookkeeping · Controller and CFO services · Tax preparation · individual income tax guidance · corporate tax guidance
Discuss the CFO work you need
Contact Henriquez Accounting to discuss the records, questions and services needed. Confirm the scope, fees, responsibilities and meeting arrangements before engaging or traveling. Schedule a consultation.
Prepare a list of the decisions you need to make and the information available for each. For example, a hiring decision may need payroll assumptions, expected collections and a cash forecast, while a pricing discussion may need reliable job or product costs. State the decision date and describe any uncertainty in the records. A forecast based on incomplete data should be labeled preliminary and updated as information becomes available.
Identify who owns each recurring task. Confirm who supplies bank statements, reconciles accounts, approves corrections, maintains the budget and reviews reports with management. If existing staff or another adviser handles part of the work, document the handoff so the same task is not duplicated or overlooked. Define how questions and changes in priorities will be communicated, and whether extra work needs a separate proposal.
For a financing request, ask the recipient which reporting period, accounting basis and supporting schedules it requires. Management reports from an advisory engagement are not automatically audited, reviewed or compiled financial statements. If assurance is required, confirm the appropriate licensed provider separately. A lender or investor makes its own decision; organized records and advice do not guarantee financing, profit or a transaction outcome. Keep a record of the agreed deliverables and discuss changes before relying on the reports.