Outsourced finance director

When this service is needed

• The accounts are up to date, but they do not show whether the company made or lost money last month.
• There are shareholders, investors or a bank asking for monthly reporting — and every time it is improvised.
• The budget was built at the start of the year and nobody has opened it since February.
• The company has several business lines or several entities, with no clear view of the margin on each.
• A credit line, factoring or financing is needed, and the bank wants numbers that hold up.
• The company has grown, but financial decisions are still taken the way they were when you were five people.

What I do, specifically

• Budget and financial planWe build the budget by business line, break it down by month and compare it monthly against actuals. What matters is not the percentage variance but the explanation behind it.
• Monthly reportingA fixed pack, on the same date every month: profit and loss, cash flow, the indicators that matter for your company — and the commentary that ties them together.
• Cash flow and bankingForecasting of collections and payments, credit lines, factoring, letters of guarantee, foreign currency operations. I did this for ten years, from the company's side.
• Profitability by lineWhich product, client or project brings money in, and which merely turns over revenue. The answer is usually a surprise.
• Governance and internal proceduresWho approves what, up to what amount, on the basis of which document. Plus preparing the company for statutory or internal audit.
• One-off decisionsAn investment, an acquisition, a merger, a transfer pricing file, a research and development file, a state aid application. I have taken all of them through to the end at least once.

How we work

• A first conversation, free of charge. You tell me where the difficulties are and I tell you honestly whether you need a finance director or simply better accounting. Often it is the second.
• A short diagnostic. I look at last year's figures and at how information moves through the company, then show you what is missing before decisions can be made on data.
• A monthly rhythm, agreed together. A few days a month, a fixed meeting with you and your team, a reporting pack that always arrives on the same date.
• No long-term contract. You work directly with the chartered accountant, not with an account manager — this work means knowing the company, not just reading the trial balance.

Other Finview services

• AccountingThe statutory work underneath
• Company formationSetting up a company in Romania
• All servicesBack to the overview
• AboutVasilica Pascu