Accounting and CFO Staffing and Compensation - Glen Katlein

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Glen Katlein, a B2B CFO partner talks about accounting and CFO staffing levels and compensation.

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Accounting and CFO Staffing and Compensation - Glen Katlein

  1. 1. Welcome to TAB-Collin CountyAccounting Staffing and Related Control Risks September 15, 2009 Presented By: GLEN J. KATLEIN Partner B2B CFO®
  2. 2. Welcome to TAB-Collin CountyTOPICSAccounting Positions – education, functional experienceAccounting Positions – compensation levelsStaffing – on payroll versus outsourcingRecruiting – competency screening / testingSegregation of Duties – cash control risksAccountant versus Controller versus CFO – role expectationB2B CFO®
  3. 3. Welcome to TAB-Collin CountyAccounting Positions – education, functional experienceBookkeeper – Accounting Clerk no degree, or Associates Degree 2 plus years experience records transactions balances ledgers prepares reports processes receivables, payablesStaff Accountant Bachelors degree may or may not be CPA zero (0) to six (6) years experience prepares more complex balance sheets and income statements prepares more complex other financial reports
  4. 4. Welcome to TAB-Collin CountyAccounting Positions – education, functional experienceAccounting Supervisor, Manager, Assistant Controller Bachelors degree May or may not be CPA 5 to 10 years experience Supervise accounting staff Identifies and resolves accounting system issuesController Bachelors degree May or may not be CPA 10 plus years experience Lead entire accounting organization Ensure effective accounting systems and controls
  5. 5. Welcome to TAB-Collin County Accounting Positions – compensation levels Small CompaniesPosition Avg Base Bonus TotalBookkeeper/clerk $ 34,400 $ 800 $ 35,200Accountant $ 48,900 $ 1,600 $ 50,500Accounting Management $ 70,100 $ 4,200 $ 74,300Controller $ 112,000 $ 22,500 $ 134,500Chief Financial Officer $ 189,700 $ 108,700 $ 298,300CFO (Midmarket Company) $ 208,900 $ 119,700 $ 328,600Source: Accounting Principals 2009 Salary Guide with DFW Index
  6. 6. Welcome to TAB-Collin County Accounting Positions – compensation levels All CompaniesPosition Avg Base Bonus TotalBookkeeper/clerk $ 36,500 $ 900 $ 37,400Accountant $ 52,000 $ 1,700 $ 53,700Accounting Management $ 74,400 $ 4,400 $ 78,800Controller $ 144,900 $ 29,600 $ 174,500Chief Financial Officer $ 318,700 $ 182,600 $ 501,300CFO (Midmarket Company) $ 208,900 $ 119,700 $ 328,600Source: Accounting Principals 2009 Salary Guide with DFW Index
  7. 7. Welcome to TAB-Collin County Staffing – on payroll versus outsourcingOustourcing options for bookkeeping Quickbooks services $ 40 to $ 75 per hour CPAs $ 65 to $ 100 per hour Temporary staffing $ 35 to $ 45 per hourOutsourcing options for accounting CPAs $ 75 to $ 125 per hour Venturity (local) $ monthly fee Corefino (national) $ monthly fee
  8. 8. Welcome to TAB-Collin CountyRecruiting – competency screening / testingInternal versus recruiter population of candidates screening selectionSee sample test
  9. 9. Welcome to TAB-Collin County Segregation of Duties – Cash Control RisksThe following functions should be segregated from employees whodeposit cash receipts or process check payments: Accounts Receivable posting Accounts Payable vendor administration Accounts Payable posting Cash Sales posting Bank Reconciliation Journal Entries
  10. 10. Welcome to TAB-Collin CountyBookkeeper/Accountant versus Controller versus CFO – role expectationBookkeeper /Accountant Controller CFOProcess AR and AP Review AR and AP for Forecast cash flow accuracy and agingRecord transactions Review transactions for Forecast P&L and accuracy-completeness Balance SheetPrepare statements Review statements for Develop meaningful accuracy-completeness reports, ie. Service Prepare complex reports or customer profitabilityProcess payroll Review payroll reports Develop effective incentive and compensation plans
  11. 11. Welcome to TAB-Collin CountyBookkeeper/Accountant versus Controller versus CFO – role expectationBookkeeper /Accountant Controller CFOReconcile GL and Review reconciliations Recommend effectivebank statements controlsPrepare sales and Review sales and Coordinate with CPA toproperty tax reports property tax reports ensure procedures and interpretations avoid taxesPrepare bank reports Review bank reports for Assist owner / CEO with accuracy-completeness effective bank relationship
  12. 12. Welcome to TAB-Collin CountyBookkeeper/Accountant versus Controller versus CFO – role expectationBookkeeper /Accountant Controller CFO Support IT Accounting Support IT strategy System Review / advise on major contracts Develop dashboard reports Assist in strategic planning Support acquisitions Support exit strategy
  13. 13. See Brochure

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