2. BSF, an Audit, Financial Management and Business Advisory and Training firm embracing International Concepts and High
Standards, serves companies in various industries in Lebanon, Middle East and Africa.
BSF is part of Adam Global Firms’ International Network and in partnership with Executive Education, USA to bring
American-written workshops to the Middle East.
With our combined Audit / Financial Management Experience, we support Business Owners, Management (CEOs,
CFOs…) and Finance Departments to:
■ Develop a high quality “Financial Management Reporting System”
■ Deliver vision, focus and strategies to drive growth, sustainable profits, thus enhancing liquidity
■ Sell more, optimize costs, metrics and processes, thus emphasizing higher revenue and shareholders’ value
■ Control companies' operations from all angles & make better business decisions
■ Transfer distinctive knowledge, skills & values to Finance Departments
■ Provide audit assurances the business is running as per received financial data and effective controls' systems are in place
■ Borrow the money needed to finance its continued expansion
■ Coach, mentor and train Finance Department staffs in the areas and specifications that best suit their needs
BSF (Best Solution Finance) - Introduction
3. BSF Services
CFO Consulting
Audit & Taxation
Corporate Learning in Finance
Finance Professionals Recruitment
Virtual Office & Business Support
4. BSF Services
CFO
Consulting
//
Finance
Department
External &
Internal
Audit,
Taxation &
NSSF
Bookkeeping
& Accounting
Financial
Reporting &
Analysis
Budgeting &
Controls
Cash Flow
Management
& Planning
Business
Plans &
Valuations/
Feasibility
Studies
Banking &
Lending
Relationships
Balance Sheet
Efficiency
Financial Due
Diligence
Corporate
Training in
Finance
Finance
Professionals
Recruitment
Virtual Office
and Business
Support
6. CFO Consulting
Context
Companies need a CFO function
• Senior accountants consider themselves CFOs
• Companies have poor level of details & real-time accurate numbers prompting misleading reporting
on real operational & financial performance and no visibility
• Management decisions are not made on actionable insight, quality, structured and well-thought out
financial input/output processes. ‘Your Analysis Are As Good As Your Data’
• Companies don’t analyze their business on a regular basis and owners are caught up in the day-to-
day obligations of running their business that they never get to think strategically.
• CFOs know how to read financial numbers, gather and interpret data, communicate the current
financial state of the business & add tremendous value if the appropriate elements are controlled.
• A Part-Time CFO can build on past experience and bring to the table forward financial and
operational thinking-skills sets to control the company’s directions’ providing added advantage
Hiring a full time CFO is lengthy and complex
• It is costly and small companies cannot fulfill productively his time
• There are many CFO profiles, which one is the best one for us?
7. Unlike general beliefs, financial statements are not just tax-related reports and are a
depiction of your business’s strength, financial position and performance as their uses,
values and benefits far-exceed those of meeting the tax authorities’ reporting
requirements.
Tax Reporting vs. Financial Statements
8. Part-Time CFO Consulting
One of great importance “BENEFIT” to your company
BSF provides its clients with a state-of-art Financial Reporting System tailored to analyze any
company from all angles
BSF can unlock efficiency or cost-saving opportunities by looking at the financial data in your
systems in very innovative ways
9. Financial
Statements &
Analysis
To view & understand the business from any angle
Cash Flow
Management
& Planning
Budgeting
&
Controls
Other Financial
Reports, Trends
& Ratios
To make sound business-decisions
To anticipate cash
shortage or surplus
To plan, measure
and control
Financial Reporting Capabilities
The “navigation in the dark”
concept shall no longer
apply to your company
“State-of-the-
Art” Financial
Reporting is
tailored-made to
your Industry/
Company
10. Identify Business Patterns & Changes Thru The Numbers
Improved Visibility & Focus On The Future
Know Where Your Money/Cash Comes & Goes
Better ROI, ROE, ROA and ROS….
Stay Prepared For Any Emergency
Better Revenue, Gross Profit & Expenses Management
Informed Management For Business Decisions & Controls
Use Of KPIs To Check & Improve On The Business Health
A Good Financial & Management Reporting System is the Difference
Between Running Your Own Business…
AND The Business Running you
A Company With Reliable
“Financial Management Reporting System”
Will Have Such Benefits:
13. Four well structured and designed Basic & Fundamental Financial
Statements tell part of the story:
1) Statement of Financial Position
2) Statement of Comprehensive Income
3) Statement of Changes in Equity
4) Statement of cash flows
**More clever and leading edge financial reports and analysis to come**
Who
Am I
What
Am I
Where
Am I
When
Am I
Overview on Financial Statements
14. Part-Time CFO Consulting - “Selected Benefits”
BSF is more than capable to perfect your company’s “Financial Reporting Capabilities”, and, in the
process to assist you in identifying opportunities to:
The ways this can be done are summarized in the diagram of the next page:
Reduce costs
• cost structure
analysis and
optimization (focus
will be on costs
that don’t grow
sales)
Increase revenue
• selling more and
focusing on higher
value goods and
services
Release working
capital
• improving balance
sheet efficiency
through
accelerating cash
in-flows &
reducing cash out-
flows (cash
management)
Strengthen the pillars
underneath you
• Enhancing
compliance & the
quality and
effectiveness of
internal controls
16. A “Side” benefit
As your CFO on part-time basis, BSF will improve in conjunction with the above services, the
accuracy of your accounting data by achieving “Accounting” best practice objectives:
At a given date and occurrence of recorded transactions during a given
period
“Existence” or occurrence of
Assets or Liabilities”
Of all transactions and accounts in the financial statements“Completeness”
Pertaining to ownership of assets and liabilities“Rights & Obligations”
Pertaining to presentation of assets, liabilities, revenues and expenses at
the appropriate amounts“Valuation or Allocation”
Improved of the financial information in order to provide proper data
essential for the preparation of financial reports“Consistency & Accuracy”
18. BSF offers a unique feature to its clients: the establishment of a long-term financial partnership with its
clients, based on three (3) phases
Diagnosis
PHASE OBJECTIVE STATUS TIMELINE PRICING
Clean-up &
Transformation
Maintenance &
Improvement
I
To determine your company’s needs and priority
areas of improvement in order to:
•Support growth, positive cash position, and
profitability
•Prevent “Navigation in the Dark” and establish
financial clarity
To be done 1-3 days Free of charge
II
III
To address your company’s immediate issues and
concerns by implementing must-have solutions
Proposed by
BSF to your
company
Up to 1 year
Lowest cost
possible
(for delegated
tasks)
To utilize what was learnt during phase II, the
knowledge of your company’s environment,
and the relationship with key people (bankers,
vendors, employees, etc..) in order to
continuously:
• Maintain what was implemented in Phase II
•Improve the Finance function i.e. new actions
To be defined
between BSF
and your
company
5-10 years
Decreasing
greatly over
time
19. Organization
Strategy
Operational efficiency
People
Technology
”
DeliveringChange
Program Delivery
Change Management
Driving
change
Construct Implement Operate &
Review
In order to accelerate companies’ sustainable benefits, BSF provides a comprehensive approach to
Finance Departments’ transformation
ASSESS PHASE STEPS
Understand
Analyze /
Benchmark Recommend Follow-up
The “Assess” phase for the Finance Dept. is designed:
• to confirm its needs after reviewing the requested
documentation and interviewing staff,
• to assess the current environment for improvement
opportunities and then
• to agree upon these opportunities
Finance
Department
Diagnosis
Assess Design
20. Transition Phase
Desired
Status
Characteristics
Current
Status
Characteristics
1. Incomplete and undefined organization structure
2. Absence of financial information visibility, implying low
decision-making capabilities
3. Absence of IT systems and automated accounting and
financial information processing
4. Right skills and capabilities under development
5. Non-standard and time-consuming accounting processes
6. Insufficient, untimely, & unreliable financial reporting
7. Undefined roles and responsibilities
8. Reactive financial management
1. Complete and well-defined organization structure
2. Reliable, timely, consistent, and efficient financial information
for proper decision-making
3. Fully automated and lower complexity technology structure
4. Superior & diverse technical skills with high capabilities
5. Standardized, streamlined, & efficient accounting processes
6. Timely and accurate monthly financial reporting
7. Clearly defined roles and responsibilities
8. Proactive financial management
Below are examples of benefits outcome for your Finance Department following the “Clean-up” phase
22. External Audit – Scope and Approach
External audit services will
be offered in accordance
with legal and regulatory
requirements & international
standards (IFRS) to provide
assurances.
The annual accounts give a
fair presentation of the
business.
BSF
will:
Review the
control
environment
within the
business Provide a
summary report
on key audit
issues, significant
accounting
judgments and
major control
matters
Issue
management
letters
summarizing
assessments of
key control
observations
Offer pro-active
technical advice
on changes in
accounting
practice
Review of impact
of accounting
policies on
business value
23. Internal Audit – Scope and Approach
• Internal audit services entails a review in detail the operations and processes used by a company
to prepare their financial statements. BSF will be:
24. -1- Interviews/
Discussions’ Review
of Procedures/
Control testing
-2-
Identify Issues
-3-
Identify Risks
-4-
Risk Rating
(High/Medium/Low)
-5-
Define
Recommendations
-6-
Report
Audit Closure
Audit Kick Off
Our Approach in Conducting the Audit
26. Corporate Learning in Finance
BSF learning workshops specialize in Finance and Accounting. BSF will work with its
clients’ staffs or participants to help them bring the best out of them. Whether
their financial department needs a refresher course in new techniques or needs to
improve its skills, BSF can coach work forces through public courses or customized
in the areas and specifications that best suit their needs.
• In-House workshops
• USA Workshops
29. Benefits of our Public
Learning Programs
Our programs are cost effective and focused in finance
Our programs provides job seeker and employees with an opportunity to
gain experience and confidence in any workplace
Our Instructors make sure to guide each participant from the start till the
end of the session by understanding the needs of its audience, and
getting the audience’s attention.
Our programs increase participants’ productivity, reduce the need for
employee supervision, they create financial awareness, helps in
understanding the impact of financial decisions, create a better team
work and strategic decision making
30. Part-Time CFO Consulting
Audit & Taxation
Corporate Learning in Finance
Finance Professionals Recruitment
“It is all about making the
right RECRUITMENT Choice”
31. Finance Professionals Recruitment
• We will partner with you to place the professional with talent in the needed position. We
manage each step of the process:
1. Study your candidate profile and recommend
2. Identify the most suitable candidates
3. Screen resume, conduct interviews and assess relevant experience, personal qualities and
motivation of those candidates
4. Provide you with candidates’ CV short list for your final interview
5. Make standard reference checks before offer is handed out
6. We will assist you in any way we can, to obtain ultimate success and satisfaction
32. Why BSF? (1/2)
• BSF strategic intent is to create unique and higher values for your company & to bring
competitive advantage to your business activities
• BSF is to combine its unique partner’s capabilities (big 4 audit firms’ and CFO 25+ years of
international experience) with a competent and well-trained engagement team
• BSF is always a partner-led and rich in partner-time spent so that your company have the
maximum benefit from our experience
• BSF quality is characterized by responsiveness due to commercial, financial, local markets, tax
and statutory rules, updated IFRS and specific industries’ knowledge.
33. Why BSF? (2/2)
• BSF provides expertise, Part-time CFO, not available in-house, too expensive to hire as
permanent employee, at a fraction of the cost
• BSF infrastructure is not too huge to demand inflated fees like the big 4 audit firms
• BSF provides customized CFO solutions as per your budget and its focused resources and
methodology will save you lots of money
• BSF are vehicles to constructively and positively assist management:
- in creating strategic value (vision an focus)
- in running their company (execution)
- in achieving their vision (growth and maximize profits)
35. BSF Engagement Team “A Brief Portrayal”
We are a dedicated team with a commercial mind
but very compelling technical background (MBA, CPA & CMA)
in auditing, financial management and finance departments transformation projects’
experience in Lebanon, the Middle East and Africa
36. Antoine has held key managerial positions with big international audit firms such as ex PWC
(USA & Gulf States), Mazars as executive director (Gulf States), and multinational companies
such as Schering Plough (USA) as group financial controller. He has also worked in Lebanon for
Adidas ME, Warner Music MENA, Arabia Insurance and Finatrade ( Europe & W. Africa) as
CFO.” In addition to Antoine’s solid financial know-how, his work and communication style is
characterized by honesty, reliability and respect for the individual and your company can benefit
from his insight, knowledge, and strategic impact as a part-time CFO consultant at a fraction of
the cost of hiring a full-time CFO on the payroll.
Antoine Tabbakh - Managing Partner (1/2)
Antoine brings 25+ years of cross-industry financial, audit, and
operational experience and the distinguished ability to strategically
provide vision, focus, and execution to maximize your company's
profits and ensure success.
37. You may refer to LinkedIn for more details on Antoine’s profile.
Project Experience
He has consulted as a part-time CFO for numerous companies in various industries in the Middle
East, Africa, and Europe.
Academic Background
He is a holder of a B.S. in accounting and an MIS from Indiana University and an M.B.A. in
finance from the University of Wisconsin, USA. He is also a Certified Management Accountant
(CMA), a Certified Public Accountant (AICPA) from the State of Illinois, USA, and a Certified
Public Auditor sworn in Lebanon (LACPA).
Antoine Tabbakh - Managing Partner (2/2)
38. Christel Al Fata - Engagement Partner
Christel, an organized and analytical practiced team member, has the overall
responsibility to manage the audit department, implement and drive clients’
projects to completion up to their utmost satisfaction and consistent with the
criteria and priorities set forth. She is ambitiously educated and thoroughly
trained in various accounting (‘big 4’ audit techniques & methodologies,
IFRS…) and financial topics (financial reporting, analysis and modelling,
budgeting and cash flow, business plans and valuations…).
You may refer to LinkedIn for more details on Christel’s profile.
Project Experience
Christel has 5+ years’ experience in providing professional services in financial management
(CFO Consulting), audit and taxation for different industries and companies in Lebanon, Middle
East and Africa.
Academic Background
Christel is a holder of a B.S. in Accounting from Arab Open University and an M.B.A. in Audit
and Finance from Sagesse University. She is as well a Certified Public Accountant (AICPA), USA
and Certified Public Auditor Lebanon (LACPA) contender.
44. University
Education
• For a reputed mid-size European/Lebanese University
- Carried out a Business Valuation and assessed the Fair Market value
- Provided shareholders an insight perception on the current and future financial performance
Projects/Credentials
Part-Time CFO/Financial Management Consulting and CPA Solutions
Chocolate
Manufacturing
• For a leading Lebanese chocolate factory
- Restructured internal profit and cost centers in line with industry requirements and company’s practices
- Built correspondingly their financial reporting capabilities and KPIs
- Assessed strengths and weaknesses of their business model and made recommendations for improvement
Coffee
Manufacturing
• For a well-known Lebanese coffee brand
- Strengthened, thru an internal audit, operational, financial and ERP (SAP) controls
- Established a financial management reporting system & delivered new business vision, focus, strategy & execution
- Assisted successfully in the preparation of a big 4 audit and in facilitating banks’ borrowings and relationships
Power Generation
Manufacturing
• For a major international power-generation group of companies
- Set up the internal audit department. Hired and trained audit staffs and tailor-made audit programs to meet the specific needs and concerns of the
Board Of Directors
- Conducted internal audits, evaluated controls’ weaknesses and made recommendations for improvement
Franchise
Fast-Food
• For an international Fast-Food company in Lebanon
- Carried out a Business Valuation and assessed the Fair Market value of a group of companies with 20+ branches
- Provided shareholders an insight perception on the past, current and future financial performance
NON EXHAUSTIVE
Dentistry
Pharmaceutical
• For a leading Lebanese dental products’ distribution company
- Established a financial management reporting system & delivered new business vision, focus, strategy & execution
- Reorganized the Sales Dept. by region/salesman/customer/products for full control & performance accountability
- Assessed strengths and weaknesses of their business model and made recommendations for improvement
45. School
Education
• For a large and private grouping of schools in Lebanon and Syria
- Established a financial management reporting system & delivered new business vision, focus, strategy & execution
- Performed financial, operational and compliance audits
- Reviewed internal accounting controls and made recommendations for improvement
Sanitary &
Ceramic Tiles
Manufacturing
• For large sanitary and ceramics importer/exporter group of companies in W. Africa
- Restructured profit and cost centers in line with industry requirements and company’s practices
- Improved their financial reporting capabilities and built their KPIs
- Prepared Information Memorandum and 5-year Business Plan and raised equity financing thru private investors
Soft Commodities
Distribution
• For a medium-sized (rice, sugar, milk, wheat, corn…) bulk distribution company in Ghana
- Restructured profit and cost centers in line with industry requirements and company’s practices
- Built correspondingly their financial reporting capabilities and KPIs
- Assessed strengths and weaknesses of their business model and made recommendations for improvement
Real Estate
Construction
• For a real estate development, management and contracting company in Ghana
- Restructured internal profit and cost centers in line with industry requirements, projects and company’s practices
- Established a financial management reporting system & delivered new business vision, focus, strategy & execution
- Conducted gross profitability analysis, improved working capital thru better banks’ relations and projects’ controls
Hospital
Health Care
• For a medium-sized hospital in Lebanon
- Restructured internal profit and cost centers in line with industry requirements and hospital’s practices
- Built correspondingly their financial reporting capabilities and KPIs
- Assessed strengths and weaknesses of their business model and made recommendations for improvement
General Medicine
Pharmaceutical
• For a leading medicine, over-the-counter and equipment products’ distribution company
- Established a financial management reporting system & delivered new business vision, focus, strategy & execution
- Hired and trained their Financial Analyst
- Assessed strengths and weaknesses of their business model and made recommendations for improvement
Projects/Credentials
Part-Time CFO/Financial Management Consulting and CPA Solutions NON EXHAUSTIVE
46. UPS Systems
Manufacturing
• For a small UPS manufacturing and distribution of electrical devices company in Lebanon
- Reviewed and analyzed their financial statements, assessed strengths and weaknesses of their business model and made recommendations for
improvement and growth
- Submitted an official report to BOD on financial & operational findings and on a new sale & diversification strategy
Home Nursing
Health Care
• For a large home health care company in Lebanon
- Restructured profit and cost centers in line with industry requirements and company’s practices
- Re-built their complete financial reporting capabilities to include budgeting, cash flow and applicable KPIs
- Achieved Accounting ‘Best Practices’ in line with IFRS
Printing &
Packaging
Manufacturing
• For a printing and packaging company in Ghana
- Restructured profit and cost centers in line with industry requirements and company’s practices
- Built correspondingly their financial reporting capabilities and KPIs
- Assessed strengths and weaknesses of their business model and made recommendations for improvement
Electro-
Mechanical
Contracting
• For a MENA group - supply & installation of electrical, heating, ventilation, AC & plumbing
- Restructured internal profit and cost centers in line with industry requirements, projects and company’s practices
- Established a financial management reporting system & delivered new business vision, focus, strategy & execution
- Conducted project’s gross profitability analysis, improved cash flow and set-up accountability measures
Sporting Goods
Retail
• For a leading sports retailer in Lebanon with 5 branches
- Prepared a Business Plan for banks’ financing the business and the acquisition of new suppliers/brands/products
- Restructured profit and cost centers in line with industry requirements and company’s practices
- Assessed strengths and weaknesses of their business model and made recommendations for improvement
Flour Milling
Manufacturing
• For the largest wheat and other grain milling factory in Lebanon
- Assessed internal controls of all departments, listed issues and impact and made recommendation for improvement
- Prepared financial and operational policies and procedures and carried out ad-hoc feasibility studies
- Re-built their financial reports & trained the Chief Accountant to assume the Financial Manager responsibilities
Projects/Credentials
Part-Time CFO/Financial Management Consulting and CPA Solutions NON EXHAUSTIVE
47. Oil Production
Manufacturing
• For a small Lebanese manufacturing company of edible crude, refined and bottled oil
- Restructured internal profit and cost centers in line with industry requirements and company’s practices
- Built correspondingly their financial reporting capabilities and KPIs
- Assessed strengths and weaknesses of their business model and made recommendations for improvement
Magazine
Publishing
• For a well-established Lebanese company publishing of 4 different magazines’ themes
- Built correspondingly their financial reporting capabilities and KPIs
- Assessed strengths and weaknesses of their business model and made recommendations for improvement
- Achieved Accounting ‘Best Practices’ in line with IFRS and improved their working capital
Building Supplies
Retail
• For a leading construction materials and supplies retailer in Ghana
- Restructured profit and cost centers in line with industry requirements and company’s practices
- Established a financial management reporting system & delivered new business vision, focus, strategy & execution
- Provides continuous training to Finance staffs & part-time CFO support such as audit, feasibility studies, analysis…
Chemicals
Manufacturing
• For a leading chemicals’ raw materials production factory in Ghana
- Restructured profit and cost centers in line with industry requirements and company’s practices
- Established a financial management reporting system & delivered new business vision, focus, strategy & execution
- Provides continuous training to Finance staffs & part-time CFO support such as audit, feasibility studies, analysis…
Chemicals
Manufacturing
• For a leading paint factory in Ghana
- Restructured profit and cost centers in line with industry requirements and company’s practices
- Established a financial management reporting system & delivered new business vision, focus, strategy & execution
- Provides continuous training to Finance staffs & part-time CFO support such as audit, feasibility studies, analysis…
Flour Milling
Manufacturing
• For a small wheat and other grain milling factory in Lebanon
- Restructured internal profit and cost centers in line with industry requirements and company’s practices
- Built correspondingly their financial reporting capabilities and KPIs
- Assessed strengths and weaknesses of their business model and made recommendations for improvement
Projects/Credentials
Part-Time CFO/Financial Management Consulting and CPA Solutions NON EXHAUSTIVE
48. Sanitary & Tiles
Manufacturing
• For a leading manufacturing company in Egypt
- Set the distribution foreign subsidiaries’ budgets (UK, France, S. Africa) & controlled variances on a monthly basis
Offshore
companies
• For several different Lebanon-based offshore companies
- Assisted in all their incorporation aspects and legal setup
- Handles all their accounting, audit, NSSF, tax duties and formalities
- Assisted in their banks’ relationship and borrowings and in their capital raising from private investors
Maision Du Café
Manufacturing &
Retail
• For a coffee roasting and grinding retailer in Lebanon
- Restructured profit and cost centers in line with industry requirements and company’s practices
- Established a financial management reporting system & delivered new business vision, focus, strategy & execution
- Provides continuous training to Finance staffs & part-time CFO support such as audit, feasibility studies, analysis…
Beauty Products
Manufacturing
• For a leading Lebanese ‘beauty products’ company for body, hair and skin care
- Restructured internal profit and cost centers in line with industry requirements and company’s practices
- Built correspondingly their financial reporting capabilities and KPIs
- Assessed strengths and weaknesses of their business model and made recommendations for improvement
General Motors
(GM) Dealership
Automotive
• For a large American car dealership in KSA (new, used & leased cars, parts & repair)
- Restructured profit and cost centers in line with GM requirements and dealerships’ practices
- Established a financial management reporting system & delivered new business vision, focus, strategy & execution
- Prepared financial and operational policies, procedures and manuals and carried out Interim CFO duties
Brokerage
Insurance
• For a General and Life insurance brokerage company in Lebanon
- Handles all their accounting, NSSF, tax duties and formalities
Projects/Credentials
Part-Time CFO/Financial Management Consulting and CPA Solutions NON EXHAUSTIVE
49. Workshops in
Accounting and
Finance
• For private companies in Lebanon and the Gulf
- Facilitated customized workshops in the areas and specifications that best suit the company’s needs
Recruitment in
Accounting and
Finance
• For many companies in Lebanon, Middle east and Africa
- Placed financial professionals i.e. CFO, Finance Manager, credit analyst… with talent in strategic full-time or interim positions in a timely and efficient
manner
Projects/Credentials
Part-Time CFO/Financial Management Consulting and CPA Solutions NON EXHAUSTIVE
