Kris Peterson of Now CFO’s Portland market featured as a guest on Chris Clouser’s podcast series “Clouser on Business”.
Salt Lake City, UT, January 9, 2018- Kris Peterson of NOW CFO’s Portland market featured as a guest on Chris Clouser’s podcast series “Clouser on Business”. He spoke more to Clouser’s opinion that successful businesses must have sound financial management.
Kris Peterson started out at a small accounting firm, which in his opinion has given him great insight to the accounting world and some of the setbacks it comes with. There were six keys that Kris shed some light on; measure performance, cash flow management, planning & budgeting, government compliance, communication methods to lenders and safeguard assets. Peterson explained the importance of each practice and how they fit together to build an Effective Financial Management platform saying, “Accounting sometimes takes the back burner…It’s important to take it slow and separate personal verses business finances”. Kris shared that he started in accounting on a smaller scale, which made him realize the importance of growth management and taking time to alleviate pressures that the accounting world can take on. “Its crucial to have the right controls in place.” Kris advised when speaking to safeguard assets. “There are a lot of opportunities for employees to steal from you”. Kris then went on to share an experience where they had found an employee giving themselves an unauthorized $200,000 salary.
They finished out the podcast with a clear visualization of what effective financial management really looks like. Regular periodic closing of financials, oversight by outside party and separation of personal and business expenses. Those were just some of the finalizing factors touched upon, but Chris and Kris had some disagreements too, more than on the spelling of their name.
The Clouser on Business podcast is for informational and entertainment purposes only. It is not intended to be relied upon for tax or legal advice. Please contact your own CPA or attorney for legal advice. http://www.clouseronbusiness.com/ep-effective-financial-management/
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If you would like more information about this topic, please contact Jessica Howard at jhoward@nowcfo.com.
