The document discusses the challenges facing chief financial officers in closing the 2020 financial year due to the COVID-19 pandemic. It notes that staff may be working remotely, disruptions occurred, and systems/controls changed. Business conditions also changed as supply chains were disrupted and strategies changed. As a result, the CFO faces more issues than ever in the 2020 financial closing. The presentation then outlines the role of the CFO and some potential issues they may face in the closing.

1. COVID 19 has created significant business uncertainty and disruption! Unfortunately, with cases surging it
seems as though it will be around for the foreseeable future. Year end financial closings place significant
demands on the office of the chief financial officer and the financial closing for the year ended 2020 will be
more demanding because:
 During the year staff may have worked from home and may continue to work from home during the closing.
 Staff disruptions may have occurred for health reasons or the need to care for another family member.
 Systems and internal controls may have change to accommodate the off-site working environment.
 Business conditions may have changed the nature or condition of the company. Supply chains may have
been disrupted, the companies go-to-market strategy may have changed, cash flow issues may exist, etc.
As a result the CFO may have more issues to address than ever before.
This presentation addresses the role of the chief financial officer and some issues that may be faced in
connection with the closing of the 2020 financial statements.
2020 FINANCIAL CLOSING DURING THE PANDEMIC!
12/17/2020COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 1

2. ROLE OF THE CHIEF FINANCIAL
OFFICER
12/17/2020COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 2

3. CFO OVERALL RESPONSIBILITIES-
MORE NOW THAN EVER!
 Leadership for the planning and execution of
the organization’s financial functions.
 Reports to the Chief Executive Officer and the
Board of Directors.
 Chief financial spokesman for the organization.
 Interfaces with Chief Operating Officer, Audit
Committee of the Board of Directors, special
Advisory Boards and other executive
management personnel.
 Understands overall business goals and
provides input into strategy and direction.
 Oversees financial functions within the
organization.
12/17/2020
COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 3

4. HOW CAN A MAP PARTNER ASSIST?
MAP Partners have been CFO’s and are accustomed
to the role of managing the functions of an
organization. MAP Partners can:
 Act as a full-time, fractional/part-time,
interim/transitional or consultative/coach.
 Provide a broad management role or focus on
specific issues.
 Access support staff, if needed.
 Focus on support of CEO and board objectives.
 Manage the complexities of the Office of the
CFO:
o Controllership
o Taxation
o Treasury
12/17/2020
COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 4

5. ATTRIBUTES OF A MAP CFO High level of ethics and integrity.
 Broad and deep financial experience.
 Thorough understanding of financial reporting and
internal accounting controls.
 Business and operational experience.
 Understanding of the use of technology.
 Frequently a certified public accountant and/or an
MBA.
 Good communicator, internally and externally.
 Reliable.
12/17/2020
COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 5

6. COORDINATING INTERNALLY
The CFO and the CFO’s staff must communicate effectively with
many internal functions in the organization. Effective CFO
leadership and communication is important to adequately support
the organization.
 Board of Directors
 Audit Committee
 Special Advisory Boards
 Legal Counsel
 Operating Personnel
12/17/2020
COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 6

7. COMMUNICATING EXTERNALLY
An organizations effectively communicating the financial and operating
results of the organization to outsiders is key to establishing credibility
and trust. MAP partners have experience with effectively
communicating with external parties such as:
 Independent accountants
 Investors
 Stock market analysts
 Regulatory agencies
 External legal counsel
 Customers
 Vendors
12/17/2020
COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 7

8. FINANCIAL FUNCTIONS
 Controllership
 Treasury/capital formation
 Taxation
 Financial planning and analysis
 Information technology
 Mergers and acquisitions
12/17/2020
COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 8

9. CONTROLLERSHIP
A controllership function oversees an organization's daily accounting operations,
including the accounting, payroll, accounts payable and accounts receivable
departments, and the maintenance of the general ledger.
Most MAP partners have come up through the ranks as accounting staff for a CPA
firm or through the controllership function before becoming a CFO. Therefore, we
are very familiar with the accounting and other issues that the controllership
function addresses. However, we do not consider ourselves now as controllers and
although we are willing to roll-up our sleeves, we believe that the detailed
responsibilities of the controllership function should only be managed by the CFO
and not performed by the CFO. This management function adds value by
understanding new and existing accounting principles, evaluating internal
accounting controls and understanding and explaining financial statements.
If a company has a need for controllership staff, MAP can assist with locating an
appropriate person or referring the company to an outside support organization. 12/17/2020
COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 9

10. TREASURY/CAPITAL FORMATIONServices MAP partners can provide for an
organization’s capital formation include the
following:
 Debt/equity structure and cap table
evaluation.
 Debt issuance, review of agreements, etc.
 New equity issuance/fundraising.
 Investor relations.
We periodically respond to regulatory
proposals. For example, we recently
responded to the Security & Exchange
Commissions “Proposed Exemptive Relief from
Broker Registration Requirements of the
Securities and Exchange Commission”. Please
let us know if you would like a copy of our
response.
12/17/2020
COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 10

11. TAXATION
A MAP partner can assist with the planning, supervision and
coordination of the taxation function. However, the taxation function
requires an intimate knowledge of federal, state and local tax
regulations involving income taxes and sales and use tax issues. MAP
partners have an overall understanding of these but rely on in-house or
outside support for the detailed evaluation of tax issues and the
preparation of tax returns.
MAP as referrals that can effectively support the intricacies of the
taxation function.
12/17/2020
COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 11

12. FINANCIAL PLANNING & ANALYSIS
We have developed a PowerPoint presentation
titled “Entrepreneur at the Controls:
Understand, Analyze and Explain Financial
Statements and How They Relate to a
Please let us know if you would like a copy,
Financial planning and analysis serves a MAP
Partner can provide include:
 Formatting financial statements and footnotes
for better communication to management and
outsiders.
 Review and analysis of financial statements.
 Preparation of financial and operation forecasts
and budgets.
COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 12/17/2020 12

13. INFORMATION TECHNOLOGY
MAP has an affiliated company that provides leadership and
execution for and execution of organizations technology and
systems infrastructure. Headquartered in Atlanta they
provide services on a national basis.
The organization is lead and staffed by seasoned and
experienced IT personnel that are focus on supporting the
system and infrastructure needs of an organization.
Please contact MAP for addition information and a referral
for these services.
12/17/2020
COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 13

14. MERGERS AND ACQUISITIONS
MAP Partners have experience in M&A activity. For example, Bob Dickson was
CFO of CardiacAssist (dba TandemLife) when it was sold to Livanova for $250
million and was CFO of Dynamet incorporated when it was sold to Carpenter
Technology for $125 million. Services that MAP Partners can provide:
 Assistance with development of objectives, plan and strategy.
 Development of detailed plan and timetable.
 Financial modelling of alternatives and valuations.
 Identification of potential acquires and preliminary evaluation of each.
 Initial and detailed due diligence.
 Working with legal counsel on letter of intent and all documents.
 Assistance with development of data room. 12/17/2020
COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 14

15. START-UP DURING A SHUT-DOWN?
Having a trusted advisor is sometimes critical for
a start-up of a business. MAP Partners can assist
in the following ways:
• Mentoring of founders.
• Board of director members.
• Strategic planning for start-up….form of
organization, control issues, funding, etc.
• Introduction to professional service
providers….bankers, lawyers, insurance brokers,
etc.
• Interim CEO or CFO roles or assistance in
recruiting staff.
12/17/2020
COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 15

16. COACHING AND LEADSHIP AND
DEVELOPMENT SERVICESMAP Partners have assisted in the development of a
leadership development framework called the “Ten Pillars of
Finance.” Using this framework we offer finance-specific
leadership development programs for individuals and teams.
We also offer special coaching and assessment opportunities
for high performing professionals. Services include:
 Leadership Finance® program
 Leading the Office of the CFO™ program
 Finance Team Leadership Program (FTLP)™ for entire
finance teams or individuals
 Individual Leadership Development Plans
 Self-awareness assessments and unbundling
 360 assessments
 CoachingCOPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 16
12/17/2020

17. POWERPOINT PRESENTATIONS AVAILABLE
 MAP Services for Entrepreneurial Companies
 Overview of the Responsibilities of the Audit Committee of
the Board of Directors
 VALUE ADDED: An Advisory Board
 Entrepreneur at the Controls : Understand, Analyze and
Explain Financial Statements and How They Relate to a
Business
 Cash Is King!
 Turn, Turn, Turn! Is the World Changing? Issues for
CEO’s and CFO’s to Consider in 2021.
 Financial Reporting for Entrepreneurs 12/17/2020
COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 17

18. WHO IS McCRACKEN ALLIANCE PARTNERS?
 McCracken Alliance Partners (“MAP”) was
founded with a vision of helping finance
professionals reach their potential
through becoming a leader that everyone
wants to follow.
 MAP’s plan is to execute the vision
through finance-specific leadership
programs, peer networks, and providing CFO
types services to solve companies needs.
 The MAP organization consists of CFO type
partners throughout the U.S. who work by
travelling or virtually. Additional
partners are frequently added to provide
additional resources and capabilities for
clients.
 Additional information can be found at:
12/17/2020
COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 18

19. THE WORLD HAS CHANGED! SERVICES
FROM ANYWHERE/ANYTIME!There is no longer a need for
corporations to incur high fees to
cover the overhead of advisors or
consultant’s offices, travel, down
time and other expenses. Many of
these services can be conducted
from anywhere with enhanced
ability to stay in touch with and
advisor or consultant.
Technologies such as Zoom have
enabled this significant change in
business practices and when taken
advantage of companies can have
superior service with reduced
costs. The quality of service is
actually higher because
distractions such as travel and
office inefficiencies are
eliminated.
12/17/2020
COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 19

20. MAP’S COMMUNITY OF PROFESSIONALS
In order to serve your needs, MAP works with and refers
professionals that focus on other disciplines. For example:
 An information technology firm that is affiliated with MAP.
 Entrepreneurial law firms and lawyers.
 Investment bankers who work as registered broker dealers.
 CPA’s who examine the financial statements and provide tax services.
 Insurance brokers who have experience in specific industries.
 Investment advisors who manage financial assets.
Please let us know if you would like a referral for any these services.
12/17/2020
COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 20

21. BOB DICKSON-MCCRACKEN ALLIANCE PARTNERS
Bob Dickson, Founder of Dickson Consulting, is a
partner with McCracken Alliance Partners (MAP).
MAP is partnership of CFOs and finance executives
experienced as public and private company CFO's
whose skills and knowledge can create
immediate value.
Services include a full range of financial leadership
services including full time or interim CFO's; board
membership, particularly audit committees;
advisory board roles; and performance of special
projects.
COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 21
12/17/2020

22. CONTACT INFORMATION
Bob Dickson
724-272-1527
bo@dicksonconsulting.biz
www.mccrackenalliance.com
Connect with me on LinkedIn
https://www.linkedin.com/in/dickson1/
COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 22
12/17/2020

23. COPYRIGHT MCCRACKEN ALLIANCE PARTNERS, LLC 23
12/17/2020
Thank You!