OUR WORK

Business owners and company executives turn to LM CFO Partners for a comprehensive suite of outsourced financial and accounting services. Our work is based on a dedication to Client Service throughout every phase of the engagement.

We are leaders in deploying the latest accounting and financial technologies including financial dashboarding, and automated accounting tools such as budget-to-actual visualization. We’re with you every step of the way: from initial needs assessment through implementation, to results and review. But we take it a step further with our advisory services designed to help ensure you have, and can maintain control over every financial aspect of your business on an on-going basis. LM CFO Partners also teams with you to be forward looking and capable of anticipating the impact of events whether they are economic, regulatory or legislative. The ability to forecast and create new business solutions that meet future requirements is an added benefit of working with us. Our experience has shown us that management at start-ups and growing companies often do not have a clear picture of the financial health of their business and lack the timely information needed to adjust their plans and actions to changing economic or industry conditions. Many of these businesses do not have the budget for a seasoned financial officer or a strong back-office staff.  We find that the financial functions are often performed by the owner/entrepreneur who started the business, who has the business know-how but not the skills of a financial professional. Our conclusion is that many businesses with great products, services, or entrepreneurial ideas have failed for lack of strong financial oversight. This is the reason LM CFO Partners was created.

Some of the services provided:

  • Short-Term and Long-Term Financial Forecasting
  • Strategic Planning
  • Cash Flow Management
  • Assist management in interpreting and using Financial Reports
  • Operational Expenses Overview and Cost Reduction
  • Budget to Actual Analysis
  • Accurate Financial Reporting

Outsourced CFO Services

Whether you want to optimize your financial accounting process, ensure top tier financial strategy, seize an opportunity, overcome a challenge, or prepare for growth, we can help. Our team brings part-time CFO expertise, strategy, and planning to help your company achieve its goals. We act as a Project manager to provide direct personal service and supervise accounting staff. No matter how the service is delivered, high-level CFO expertise is provided without adding a full-time employee to your payroll.

Fractional CFO Services

LM CFO Partners provides Fractional CFO Services whereby a CFO is retained for a specific task or contract arrangement. This allows the company to use a CFO on a project-by-project basis without incurring the monthly costs. Unlike a full time CFO, who oversees the general financial strategy previously mentioned, a fractional CFO’s duties are typically on a project basis and specifically timed to the company’s particular set of challenges or goals.

A Fractional CFO is often brought into a company to help overcome financial challenges such as:

  • Cash Flow Issues
  • Startup and Small Business Services
  • Gross Margin Inefficiencies
  • System Implementation
  • Cost Analysis
  • The analysis of potential future products, services, markets and customer segments
  • Visibility and analytical capabilities to convert large amounts of data into actionable information
  • Producing Financial Forecasts
  • Assisting with strategic relationships
  • Key Metric Benchmarking

A sample of some of the specific tasks our Controllers are responsible for:

  • Management of accounting and bookkeeping processes
  • Budgeting and Forecasting
  • Cash Flow Management and Projections
  • Reporting and oversight of month-end closings
  • Audit preparation and advisory service
  • Financial Process improvements
  • Accurate month end closings and financial data

Outsourced Controller Services

LM CFO Partners provides outsourced controller services that are specifically designed to suit the needs of growing businesses. Our Controllers are responsible for overseeing all client accounts, providing timely insights and financial advice, and carrying out proactive account management. Our team oversees all work completed by our full time bookkeeping team, closes client books on a monthly or quarterly basis and provides consultations on a wide variety of client matters. Outsourcing your controller services allows a company to pick and choose services that a controller would provide. It’s important to distinguish between the CFO and Controller function – The CFO looks forward, the controller looks back. As your Outsourced Controller, LM CFO Partners will help oversee your financial processes, provide data and insights, and execute strategic management of your accounts so you can focus on your core business.

Family Office CFO Services

LM CFO Partners delivers high quality family office services and centralizes the management of financial affairs for high net worth individuals and families. LM CFO Partners obtains a “360 Degree Financial View” of the high net worth individual by providing accurate monthly reporting to track investments and cash accounts, working with the family advisers on accounting related issues, including the family’s attorney, investment adviser and other trusted professionals. Our services are based on the needs of each individual/family member we work with, and we customize their reporting to suit their specific needs. Our team and consultants offer financial and tax knowledge to enhance all aspects of the high net worth individual’s financial picture.

Some of the ways LM CFO Partners assists Family Offices:

  • Secure system for bill pay, banking, and expense approvals
  • Document management and record retention
  • Financial Statement preparation
  • Independent performance tracking
  • Year-round coordination with the advisers
  • Attend Family meetings
  • Assist with communications
  • Succession planning
  • Philanthropic education and policy development
  • Private client and business tax preparation and planning
  • Cash Flow planning and modeling

Some of the services provided:

  • Company re-organization
  • Systems Strategy & Design
  • Family Business Succession
  • Long term tax incentives
  • Corporate Capital Structure
  • Mergers & Acquisitions

Financial Strategic Consulting

LM CFO Partners provides your organization a high level of strategic financial planning. While other financial roles in the organization involve maintaining past and present financial records, our services are focused on the long-term strategy of your organization. We are experts in long-range planning and analyzing what exactly is needed to take your company from where it is now to where you’d like it to be.

Outsourced Bookkeeping

Accurate bookkeeping is essential for a healthy business, but the process might be tedious, time consuming and often gets pushed to the bottom of the to-do list. LM CFO Partners provides an outsourced bookkeeping team that scales to your company’s bookkeeping needs. Each team of bookkeepers work extensively with our CFO team to ensure accurate reporting, cloud system integration, monthly reporting packages, and ensures that all aspects of the business are properly accounted for. Our team is conveniently located in our headquarters in New York City.

Some of the services provided by our bookkeeping team:

  • Accounts Payable (bills and payments)
  • Accounts Receivables (invoices and collections)
  • Daily General Ledger Maintenance
  • Payroll Processing
  • Bank/Credit Card Reconciliations
  • Factor Reconciliations
  • Tax & Audit Support
  • Monthly Financial Reporting Package
  • Amazon Reconciliations and Analysis

Industries

Real Estate

Jewelry

Home Furnishings

Apparel

Paper Goods

Toys and Games

Testimonials

Testimonial

  • A wonderful serenity has taken possession of my entire soul, like these sweet mornings of spring which I enjoy with my whole heart. I am alone, and feel the charm of existence in this spot, which was created for the bliss of souls like mine. I am so happy, my dear friend, so absorbed in the exquisite.

    Thomas Rhudus
    9-5 Worker
  • A wonderful serenity has taken possession of my entire soul, like these sweet mornings of spring which I enjoy with my whole heart. I am alone, and feel the charm of existence in this spot, which was created for the bliss of souls like mine. I am so happy.

    Jennet Coles
    Business Owner
  • A wonderful serenity has taken possession of my entire soul, like these sweet mornings of spring which I enjoy with my whole heart. I am alone, and feel the charm of existence in this spot, which was created for the bliss of souls like mine. I am so happy, my dear friend, so absorbed in the exquisite.

    Roberto Carlos
    Investor

Case Studies

  • Time is of the Essence

    LM CFO Partners was engaged a $12MM revenue company in the sports apparel industry. The client successfully manufactures branded underwear and sells large volume to national retailers across the country. The business owner approached LM CFO Partners with a common complaint, “Accounting is taking up too much of my time. I have a back office but feel like I’m doing double the work!” LM CFO Partners began by alleviating some pressure from the business owner by streamlining the accounting process. To the CFO’s surprise, the business owner was spending 8-10 hours per week manually reconciling every check, wire, and charge on the bank statement onto his own personal spreadsheet. This arduous manual process almost guaranteed data entry mistakes and wasted precious time on a task that could be done by an entry-level accountant. LM CFO Partners worked with the back office team to re-process the accounting system to provide the business owner, on a daily basis, with the true cash balance as measured by a newly installed internal dashboarding system. The changes saved the business owner approximately 35-40 hours per month that allowed him to focus on the design, production and sales of the product.
  • Understanding the Numbers

    LM CFO Partners was engaged by a $30MM revenue company in the home and bath products industry. The client is a successful manufacturer of home products, selling branded pillows, blankets, and other household items to large retailers throughout the country. However, when it came to reporting on their financials and understanding what those reports meant, the client found that it was lacking in the financial information that would allow it to make informed decisions. LM CFO Partners worked closely with the company’s internal financial team to produce accurate monthly reporting, and educated the owners both on what the numbers meant and how to interpret those numbers to help improve operational efficiency. The CFO sits down with the owner on a monthly basis to review the turnover ratios and measure the liquidity of the company. With the implementation of the new monthly financials, the CFO was able to properly project various scenarios for the remainder of the year in order to determine the firm’s position and current cash flow needs. Additionally, the CFO implemented dashboarding on the business owners screen at all times allowing easy access to company’s information in real time, thus facilitating management decisions.
  • Conversion of Cash Basis to Accrual Basis of Accounting

    LMCFO Partners was engaged by a $15MM revenue company in the footwear industry. The client designed, manufactured, and sold quality branded footwear to large retailers throughout the country. LM CFO Partners began working with the client in 2017 to serve as the company’s outsourced CFO. The initial assignment was to assist in streamlining the accounting process, and by instituting accurate financial reporting. During the engagement planning stages, LM CFO Partners noticed that the accounting function for product purchase was on a cash basis. The CFO quickly switched over to the accrual basis to provide a better sense of the company’s overall financial health by applying the matching principle to record expenses in the period they were incurred, and enabling cash flow projections. In addition to converting the internal books and records from a cash basis to the more common accrual basis of accounting, the CFO also developed new accrual reports for the business owners and investors. The shift to accrual basis accounting allowed the manufacturer to better assess its financial health, allowing them for the first time to properly budget their cash flow needs several months in advance.