Client Background

A regional bakery engaged my Fractional CFO services to enhance financial reporting, transparency, and overall financial management. The company directors and accounting department faced challenges with inconsistent financial reporting, leading to a lack of clarity for decision-making at the executive level.

Challenges

• Financial reporting was inconsistent and ad-hoc, making it difficult for the CEO to access timely and reliable information.
• The accounting department lacked structured processes for management accounting.
• Staff needed training in best practices for financial reporting and analysis.

Solutions Implemented

1. Training & Mentorship for the Accounting Team
   • Conducted one-on-one training, group calls, and provided comprehensive training notes to improve financial reporting procedures.
   • Introduced best practices in management accounting to ensure accurate, timely, and actionable financial insights.
2. Enhanced Financial Reporting & Procedures
   • Worked closely with company directors and finance staff to develop structured financial reporting frameworks.
   • Established clear procedures so that financial data was available in a consistent and accessible manner.
3. Increased Financial Clarity for Leadership
   • Ensured that the CEO had real-time access to key financial insights, allowing for better strategic decision-making.
   • Transformed financial reporting from a loosely managed process into a structured, reliable system.

Results & Impact

– Significantly improved financial transparency, giving the CEO confidence in the company’s financial position.
– Standardised reporting processes, eliminating ad-hoc financial management.
– Accounting staff trained in management accounting best practices, ensuring a sustainable improvement in financial operations.
– More efficient financial decision-making, with information readily available when needed.

By implementing structured training, clear procedures, and best practices, I helped the bakery establish a financial reporting system that supports long-term growth and stability.