The accounting department is overwhelmed. Invoices are behind. Reconciliations aren't finished. Month-end takes too long. Management can't get reports when they need them. The obvious solution seems simple: Hire another accountant. Sometimes that is the right answer. But adding another person to a poorly designed accounting operation can make the problem larger rather than solve it. Capacity and Process Are Different Problems There is an important distinction between having too much work and...

“CFO” and “Controller” are sometimes used interchangeably. They shouldn't be. Both roles are important financial leadership positions, but they generally solve different problems. Understanding the difference can help a growing business determine what kind of financial leadership it actually needs. The Controller: Building Confidence in the Numbers A Controller is primarily responsible for the integrity and operation of the accounting function. The Controller's world typically includes:...

Growth is usually considered good news. Revenue increases. The company adds employees. New customers arrive. Projects become larger. Operations become more complex. But somewhere along the way, the accounting function that supported the company when it was smaller may stop supporting the company it has become. That doesn't necessarily mean the accounting team is failing. Often, the business has simply outgrown the financial infrastructure around it. The Warning Signs The symptoms don't always...