Tag: CFO

Choosing Outsourced Accounting Services For Your Business

    admin

If you are considering outsourced accounting services, then youve likely arrived at the conclusion that, as a business owner, your time is much better spent growing your business, not fussing with the books. It takes many business owners a long time to come to this conclusion, which can be detrimental to their business. In an effort to conserve finances, owners often bury themselves in excess work that they arent qualified to do. Outsourcing work is a good way to solve this problem.

Why outsource?

When it comes to accounting, outsourced accounting services are the perfect compromise. Many small to medium sized businesses dont have the financial resources to hire a full-time accounting professional to balance their books monthly and file their taxes. In fact, depending on your business, your books may need to be balanced more often and you may also need financial reports and payroll production. Outsourced accounting services allow you to hand this work off to an expert who only works when you need them to, and therefore, you only pay when them when they do the work you assign. No salary.

What are the other benefits?

Your time is crucial to your business. It is up to you to network, find new investors, develop new products and worry about your businesss presence both online and in the real world. When do you really have time to go through receipts or worry about payroll deadlines? You cannot handle every aspect of your business, and while you may think that by doing it yourself you are saving money, the truth is that if you make a mistake, it can cost you money. Outsourced accounting services are the solution you need. Not only will you lose money if you mess up your businesss taxes, but what if you short change an employee? Or miss a payroll deadline? How can you handle the corporate side of your business if youre buried in the books all day?

Its not all about accounting

There are many tasks you can outsource for your business. You can also outsource things like CFO services. The financial side of your business is what fuels your business. You want solid strategic planning and a defined direction for your business. Getting things like outsourced accounting services is just one way to delegate and organize your business plan for success. Outsourcing other aspects is also possible, and most time favorable. Third parties can also assist with raising capital funds and even advise you about how to plan for your businesses future.

Some may see outsourcing as a short cut, but if you are in a position where you are your only employee and your business is not big enough to justify hiring accounting staff, outsourced accounting services only make sense. Dont short-change your business and its success by trying to juggle everything on your own. You want qualified and experienced professionals helping you grow your business. Dont saddle yourself or an unqualified employee with the important accounting needs of your business. Outsource to professionals today.

Investment Banking Interview Preparation

    admin

For undergrads and MBA students, the news that they have been selected for an interview at an investment bank comes with both excitement and dread. A position as an analyst or associate in corporate finance can be the first step towards a highly successful and highly lucrative career. Investment banking interviews, however, can be some of the most intimidating interviews out there, so let’s take a look at how to get prepared.

Before we jump into interview practice mode, we should take a step back and think about how we want to come across in the interview. In short, investment banking candidates should come off as bright, confident and likable.

In the final cut of selecting a hire, investment banks have already determined which candidates are smart and capable, so the decision comes down to who they like the best. So in addition to knowing a thing or two, candidates must remember to come across as a fun person to work with as well.

Know Your Story

Like any interview, candidates should have stories prepared about their lives that discuss their past, present and future. These are great answers for the standard questions:

“Tell me about yourself.” Or “Walk me through your rsum.” “Why are you interested in investment banking or this firm?” “Where do you see yourself in five to ten years?”

Candidates are highly likely to receive these or similar questions in any interview, and having succinct, practiced answers to them will give the impression of a polished candidate.

Your past story should highlight events that have qualified you for or gotten you interested in investment banking. Your present story should demonstrate why you want the particular position, how it is a logical step from where you are coming from and perhaps touch on where you hope the position will lead.

Your future story should discuss how investment banking will lead to where you want to go. Good future ambitions might be a managing director position in investment banking, a principle at a private equity firm, a CFO or perhaps and entrepreneur. In any case, you should communicate that those are long-term ambitions and you look forward to the experiences you’ll have in the position you’re interviewing for.

Know the Industry and Firm

Where investment banking interviews begin to get trickier is that firms will expect you to know what you’re getting into. If you confuse an equity analyst position with an analyst position in corporate finance, for example, you will not make it any further in the process.

You should understand the major divisions within an investment bank – sales & trading, corporate finance, research, etc. You should understand the hierarchy of positions within corporate finance – analyst, associate, vice president, managing director – and what each position does.

At the macro level, you need to understand the major differences between bulge bracket investment banks, middle market and boutique investment banks. You should also have a good answer for why you would prefer one type over another (and be sure that you prefer the type you’re interviewing with).