Throughout the peaks and valleys of the business lifecycle, there is one constant: having a person or team to effectively manage the financial operations of the business is critical. Whether it is financial planning, cash flow management, transaction support, profit optimization, process improvement or communication with stakeholders, organizations rely on their finance and accounting department for key information to keep the business operating effectively today and into the future, and finance departments rely on the swift and decisive leadership of the Chief Financial Officer (CFO).
We understand that businesses often require specific skills for certain projects or want executive level support without the additional cost of full-time executive level personnel, bookkeepers or accountants with defined competency. With 70 years of experience supporting finance teams and providing accounting and finance guidance for our clients, Weaver’s CFO Advisory Services practice offers strategic guidance and special project assistance on a temporary or ongoing basis.
We focus on your objectives by looking at your overall goals for the company, the finance department and any specific projects. Then we implement a plan that achieves your goals promptly and cost-effectively within the desired timeframe.
Our CFO Advisory Services include:
As the role of the CFO continues to expand, the need for adaptability and responsiveness has become paramount. Decisions are becoming increasingly data-driven, yet finance departments lack the precious resources and expertise to provide meaningful and consistent data to leadership. Weaver’s group of experienced professionals can help you evaluate critical business factors and situations such as changing market conditions, organizational health and performance, opportunistic trends, business risks, and regulatory impact on your business.
We are available to provide your CFO and finance and accounting team with services and assistance on special projects, including:
- Strategic planning
- Financial planning, budgeting, modeling, forecasting and reporting
- Working capital and cash flow management
- Treasury management and liquidity
- Cost reduction analysis and planning
- Credit risk management
- Debt management
- Complex Accounting Matters
- Initial accounting method selection or transition to a new method
- New accounting standards implementation
- Asset retirement obligation or environmental liability calculation
- Depreciation and depletion calculation
- Capital and operation lease schedules
- Organizational assessments
- Employee planning
- Contract administration
- Key Performance Indicator development and tracking
The recent CARES Act introduces loan modifications and special programs to offer relief for small and middle-market businesses that are experiencing hardship due to COVID-19. Serving clients across most industries including energy, travel and hospitality, manufacturing, private equity, real estate and technology, Weaver understands the challenges businesses are facing due to this pandemic. If you are evaluating whether your business could benefit from the SBA Economic Injury Disaster Loan (EIDL) or the Paycheck Protection Program (PPP), we are standing by to assist you through the process so you get access to funding as quickly as possible. Weaver can also assist in making sure you have the documentation and tracking in place to handle future inquiries and to qualify for forgiveness, if applicable.
We support you through the CARES Act and special lending programs by:
- Analyzing your eligibility for EIDL and PPP loans
- Supporting your determination of possible loan amounts based on the specific criteria
- Assisting in reviewing documentation needed to support your loan qualifications, expenses and spending
- Monitoring use of loan proceeds to ensure funds are only used for eligible expenditures.
Throughout the year, your business designates special projects to achieve strategic and operational goals. Along with these projects come significant challenges as to how to accomplish goals when they require unique skills or additional staff, yet adding headcount long-term is not a viable business decision. When you need access to professionals with finance and accounting experience, Weaver’s CFO Advisory Services team is available to jump in and help. We take a consultative approach to offering professional resources that you can leverage for support in the following areas:
- Financial reporting
- Accounting and bookkeeping assistance
- Cost reduction and process reengineering
- Profit optimization
- Data analytics
- Transaction support
- IPO readiness
- Valuation support
- Forensic accounting and litigation support
By taking a strategic approach to tax planning, you can create tax efficiencies for your business. Weaver’s tax professionals have experience guiding businesses through complex state and local, federal and international tax matters across most industries. As a result, you benefit from working with Weaver’s CFO Advisory Services team because we understand how to analyze your company’s tax situation to facilitate your tax planning and compliance process, while proactively identifying areas that require additional research and strategies to ensure the best overall result for the company. We can support you with:
- Tax accounting and reporting on the federal, state and local, and international needs for your company and its owners
- Tax research, planning and strategies, including taking advantage of opportunities in the structuring of transactions, utilizing the most advantageous methodologies in reporting income or deductions, in accordance with tax law provisions
- Merger and acquisition activity and restructuring
- Tax consulting around entity structuring
- Tax planning and strategies that consider the effect on your principals and business
- Succession planning
- In times of downturns or economic instability, consulting that maximizes your ability to maintain or improve the bottom line and liquidity, in accordance with your goals and objectives
As your business evolves, you will find opportunities to grow organically and through acquisitions and strategic initiatives or transactions. This can be an exciting yet stressful time for your team as they respond to all the financial document requests and due diligence inquiries while also managing their daily responsibilities. When considering a new investor, a merger, an acquisition or a company divestiture, our CFO Advisory Services team can step in to help you address the challenges that many businesses and investors face when going through the valuation, accounting, financial review and due diligence process.
Weaver’s Transaction Advisory Services include:
- Financial due diligence
- Valuation and modeling
- Mergers and acquisition due diligence
- Tax due diligence
- Business and intangible asset valuation
- Post-integration alignment
Looking for opportunities to optimize your business and add efficiencies is critically important as your business evolves. With an understanding of your finance operations and analytics, our CFO Advisory Services team uses Weaver’s Business Process Analysis and Improvement Approach to identify and eliminate redundancies, bottlenecks and process breakdowns. We also evaluate how your processes integrate with technology. By streamlining systems, operational processes and performance measure techniques, we work with your executives to reduce organizational risks and better position your organization to meet performance, growth and profitability goals.
Managing highly sensitive information is a major responsibility of the finance and accounting team, which means internal controls are essential to protect your business from financial reporting errors, data breaches and fraud, among other risks. With Weaver’s CFO Advisory Services team, you benefit from our professionals whose backgrounds are rooted in risk assessment, IT or data management following industry best practices and regulatory guidance to advise and deliver an appropriate level of internal controls for your finance structure.
As market conditions change, your business may face new circumstances and challenges that cause you to rethink how you currently manage not only your finances, but your entire business. Our CFO Advisory team assists your executives with the assessments and modeling so you have the information to make critical business decisions, and then we offer an independent perspective with recommendations on how to stabilize financial and operational performance. We respond quickly, knowing that you need rapid response to preserve and create value for your business. Some of the services include:
- 13 week cash flow forecasting and modeling
- Scenario-based sensitivity modeling and decision support
- Profitability and margin analysis and modeling
- Pro forma financial modeling
- Business interruption claims, damages and modeling
- Recovery funding assistance
- Implementation of transaction support concepts
- Debt restructuring analysis, negotiations, including review of loan covenants and compliance
- Working capital modeling, analysis and tracking
- Credit risk analysis and structuring
- Accounting and back office financial support for liquidating entities and funds
- Compensation analysis and restructuring, including review of employment agreements, consulting agreements and liquidity distribution
- Entity management
As cities and states across the country have responded to COVID-19, businesses have had to adapt rapidly. No one knows how long it will take to return to normal, or what the new normal will look like. Even companies that return to normal operations soon will face lasting economic fallout. Nevertheless, regardless of the uncertainties ahead, there are measures financial executives can take to manage the consequences and help their businesses remain healthy.
When leaders are under duress, they often make poor decisions for one of two reasons: 1) they rush decisions without taking a thoughtful approach to their circumstance, or 2) they become paralyzed by fear and react slowly to rapidly changing environments. These errors happen to the best of us.
On March 27, President Trump signed into law another coronavirus (COVID-19) law, which provides extensive relief for businesses and employers. Here are some of the tax-related provisions in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
On March 27, 2020, President Donald Trump signed into law the Coronavirus Aid, Relief and Economic Security Act (CARES Act or Act), which includes cash payments to taxpayers, expanded unemployment insurance, increased funding for healthcare providers, small business loans, and tax relief to individuals and businesses.
On March 27, 2020, Congress passed the Coronavirus Aid, Relief and Economic Security (CARES) Act (the Act). A critical piece of the roughly 900-page, $2.2 trillion legislation is dedicated to small businesses, which employ nearly 60 million people in the United States.
Business disruptions always bring organizational challenges – and we have never experienced a disruption quite like this one. But even the darkest clouds have silver linings. When your margins for error are slim, assessing your ability to adapt, change and deliver can have a multiplier effect on performance.
For small businesses researching funding sources and financial support to manage the impact of COVID-19, the Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020, deemed COVID-19 a disaster for purposes of the SBA Economic Injury Disaster Loans (EIDL) program.
Organizations are most effective when the right people in the right positions are performing well. Ideally, your most talented people are assigned the most critical jobs. These concepts are straightforward… but implementing them often proves difficult.