Every business needs financial reporting in order to understand their performance and identify potential areas of improvement. In some cases financial statements are required for a variety of external sources and stakeholders including: shareholders, lenders, regulators and revenue Canada – since financials are essential in determining organizations taxable revenues.
Whatever your accounting needs are our team of professionals at UPC will assist with preparing your financial statements efficiently, cost effectively and on a timely basis. We ensure that your statements are prepared in a format that helps you understand the performance of your business.
Our professionals have industry expertise in small business, Oil and Gas, Medical Practices, Law Firms, Not-For-Profits, Consulting, Retail, telecoms, utilities, Information Technology, construction, and sub-contracting to name a few – that will meet with you on a regular basis to explain how your organization is performing financially. Additionally, our professionals have a sound understanding of Canadian and US GAAP as well as the international Standard for Financial Reporting (IFRS) and we can help with getting your organization prepared for the transition to IFRS.
We offer the following accounting related services:
- Monthly Booking Services (For small and medium organisations)
- Accounting Information Systems Consulting (ERP’s, Quickbooks, BV, Simply Accounting)
Our management accounting service provides you with the competence and expertise of designated accountants for a fraction of the cost. We achieve this by facilitating your ability to share professional accounting resources. It’s no different from having the benefit and value of a full fledged accounting department, except that you do so at a cost affordable to a small or medium sized business. Or as we say Your Complete Finance Department at much better Value.
The Accounting professional assigned to your organization will assist you in the following areas:
- Participate in a weekly, monthly or quarterly meeting with your management to discuss results
- Assist you in financial management by developing and instituting a budgeting and long range planning process
- Analyze variances in expenses and revenues to budget and or plan
- Assist you in understanding your revenues, expenses, cash flow and working capital in plain words
- Perform financial Analysis and financial modeling
- Develop key performance indicators that will assist in tracking organizational performance and rewarding employees
- Develop and track productivity measures
Leadership, organizational strategy and long range planning should be the pre-occupation of the CEO. Unfortunately in smaller organizations CEO’s can get bogged down wearing multiple hats include managing the organizations finances, information technology needs and compliance requirements. The Virtual CXO is a service offered by UPC to upcoming small businesses in response to the demands placed on the CEO’s time by the various facets of running a business. If your organization is at that point where you require the services of a finance controller or either an Information technology or Compliance executive but cannot afford to take on the six figure expense that comes with it, this service will meet your needs?
Click on the appropriate link below to learn more about our virtual CXO services:
Virtual CFO (Chief Financial Officer)
The Virtual CFO does the same job as any other CFO with one difference—he/she is not on site. Rather, the virtual CFO stays in contact and maintains control working with financial statements from your bookkeeper to tell a story about the flow of funds and what’s really happening in your business. Our virtual CFO services include cash management, budgeting, strategic decisions, interpreting business KPIs and presenting to Audit, finance and Risk committees of the Board. We help make the numbers make sense!
Virtual CIO (Chief Information Officer)
In today’s world, businesses are becoming more dependent on Information technology. This dependence cuts across all facets of the operational cycle, whether it’s using a PC based application for invoice generation Vs web based sales force automation, or using Email based communication with your customers or Skype and blackberry based communication for internal needs; or web based document sharing or wireless LAN and wireless printing, most businesses are reliant on technology to deliver on their business commitments.
For small and medium size businesses, a department dedicated to IT might be non-existent or if existent the IT manager is tasked with managing the local area network, the email server, internet connectivity, routers, firewalls and even the phone system and as such doesn’t have the time to exploit the additional productivity that can be derived from sound Information Technology systems.
There might also be an exposure to data security risks and legal risks, or demands for IT security audit from potential new customers. For most organizations, tapping into the power of IT as a “business differentiator” or a “business edge creator” becomes a mission that is often postponed to “some day, when we have time and resources”.
Most small businesses might understand the benefits of exploring an IT strategy but after reaching out to some of the larger consulting firms are scared away by the preliminary cost estimates that could even surpass their overall IT budget.
We understand the need of our clients to be availed the best IT governance expertise available in the industry without using breaking the bank or using up your annual IT budget in a week. Ufodike Professional Corporation’s virtual CIO service provides you with access to some of the best IT executives in the world possessing decades of experience running IT for fortune 500 companies. These IT Gurus are not only experts in aligning your IT investments with your business goals but are adroit in positioning your IT as a business enabler that will provide a competitive edge to your business.
Virtual CAMLO / CCO (Chief Anti-Money Laundering Officer / Chief Compliance Officer)
The Virtual CAMLO will lead your company’s efforts to monitor anti-money laundering and terrorist financing compliance with the proceeds of crime money laundering and terrorist financing Act, and will aid in the development, training, enforcement and auditing of internal controls