Raleigh, NC - June 26, 2013

“Today’s small businesses face an ever-changing and increasingly difficult and competitive business environment. A results-oriented financial strategy, properly implemented and managed, is essential to business success…” To succeed in today’s ever-changing marketplace, it is important for a company to both gain and sustain its competitive advantage. An important ingredient in achieving this edge is an effective CFO function. The role of the CFO has evolved from being a backward-looking financial policeman to a forward-thinking strategist whose main job is to provide advice on a wide range of issues. The required skill set includes an ability to set strategy, lead change initiatives, and prepare value-added analyses to enhance the Company’s value. Yet most small businesses are often stuck in a quandary -- they often need the help of financial professionals to take their...

(This article was originally published in the Wall Street Journal, February 27, 2012) By ROBERT A. HOWELL It's time to change the way we think about CFOs—and the way they think about themselves. The current view—which gets pushed by business schools and carried into the executive suite—sees finance officers as little more than number crunchers. They settle the books and look after regulatory compliance, without taking any bigger role in steering company strategy. CFOs analyze the financial impact of a company's moves after they're made—not when they're still being planned. But that approach just doesn't work anymore, for CFOs or the companies they serve. The world is changing too fast and economic uncertainty is too great to leave finance officers out of executive decision-making. The risk of disaster from an ill-advised move is greater now than ever; think...

Beginning for Form W-2s due to employees by January 31, 2013 (for tax year 2012), many employers now must report the cost of employer-provided health insurance to employees.  The health care costs should be reported in section 12 of the Form W-2, using code "DD."  The reporting is intended for informational purposes only since employer-provided health care currently is not taxable.  The information is required however so that the IRS can verify that individuals have health care coverage as required beginning in 2014 under the Affordable Care Act and to make it easier for the IRS to impose the 40% "Cadillac tax" that takes effect in 2018.

For certain employers, however, the IRS has delayed the health care costs reporting requirement for an indefinite period.  Accordingly, these affected employers will not have to report...

The CFO and the Controller are distinct financial leadership roles in businesses and organizations. Some growing organizations do not fully understand the differences in these two roles, and therefore, often have a difficult time determining which level of financial leadership the organization requires. In short, CFOs focus on finance and projections, whereas Controllers focus on accounting and bookkeeping. A CFO serves as an advisor to the executive board of a company. This position oversees the financial, accounting, payroll and tax sectors of a business. CFOs use the accounting information generated by the Controller to analyze how a business is performing, and to create forecasts and financial plans. Effective CFOs should have an understanding of both the operational and financial aspects of a business in order to assess its financial state. Controllers typically report to the CFO. The...

CFO Enterprise, LLC Announces Launch of New Website FOR IMMEDIATE RELEASE CARY, NC (Oct 31, 2012) — CFO Enterprise, a Cary-based professional services firm, is pleased to announce the launch of a newly designed website at www.cfoenterprise.com. CFO Enterprise provides part-time, interim, and project Chief Financial Officer (CFO) and Controller solutions, Profit Enhancement consulting, and Executive Search services in the financial and accounting sectors. The redesigned site helps to promote the company’s mission to continuously provide superior client service. The clean, modern design allows clients to navigate the site, learn more about services, and contact the CFO Enterprise team with ease. The new design also promises to optimize how content is organized, and incorporates SEO best-practices. The updated and improved website features an improved navigation, more attractive design and prominent links to social media...

Jessica Creamer joins CFO Enterprise in the Triangle as Partner, Client Services FOR IMMEDIATE RELEASE Cary, Jul 12, 2012 -- In order to address increased market demand for its finance and accounting executive consulting services, CFO Enterprise is pleased to announce that Jessica Creamer has joined the firm as Partner, Client Services. In this role, Jessica's primary responsibilities are to develop long-term sustainable business relationships with corporate and business executives, manage client engagements, business development, sales and consulting activities. Jessica brings to her position more than 10 years of senior executive sales and marketing experience, business banking, accounting, and operations in various financial services environments, manufacturing and hospitality. "The role of the part-time CFO and/or Controller has continued to evolve and expand in the last couple of years "said Creamer. "We are seeing more and more...

Philip Carnevale joins CFO Enterprise in the Triangle as Consulting CFO In order to address increased market demand for its finance and accounting executive consulting services, CFO Enterprise is pleased to announce that Philip Carnevale has joined the firm’s Triangle office as a Consulting CFO. FOR IMMEDIATE RELEASE Jul 12, 2010 – Carnevale is an experienced financial executive with respected leadership skills who has served as a senior financial executive for several technology, and manufacturing companies in both the public and private sectors.  “We are excited to welcome Phil to the team,” says Lorna Nahil, CFO Enterprise's managing partner in North Carolina “His technical knowledge and breadth of experience make him an ideal match for our company’s expanding Triangle practice.” In his role, Carnevale will work with a variety of CFO Enterprise clients, providing them with strategic financial...

Phil Carnevale, CFO Enterprise

Meeting of Minds Finance and IT executives are rapidly finding common ground. By Kristine Blenkhorn Rodriguez Remember the good old days, when accountants did a bunch of number-crunching and the IT guy fixed the computer? Tim McCracken, vice chair and national practice leader of technology leadership for Tatum LLC, does. He also remembers that, once upon a time, companies had the luxury of a slower pace of business in a less highly regulated environment. Thanks to the microchip and Sarbanes-Oxley, among other things, the finance and IT functions of any business are in a fast-paced partnership that shows no signs of slowing down. “There was a time when finance executives and practitioners captured data, reviewed it and did periodic...