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Introduction
Word on the Street
vrecruiting TM
vhr TM
NASBA Certified CPE Seminar
Attendees will earn 8 complimentary CPE credits.
Topics include:
- Obtaining Financing & Managing Cash for Your Customers
- Reducing Your Client's Tax Liability Through Cost Segregation Studies
- How to Make, Grow and Keep Your Business Relationships
- Texas Sales & Use Tax General Guide
- How to Increase Tax Savings Through Inventory Strategies
- Resolving IRS Controversy
Date: November 18th
Time: 8:30 am - 5:00 pm
Location:
La Cima Club
26th Floor Williams Square
5215 North O'Connor
Irving, TX 75039
For more information or to RSVP contact Laura Caudle, SourceCorp Professional Services.
Need more information about vcfo's services?
Scott Killingsworth
Interim Managing Director, Dallas
(214) 545-3600
skillingsworth@vcfo.com
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Introduction 
As we anticipate Halloween and trick-or-treating with the kids, 2008 is quickly winding down. Thanksgiving will be upon us in six weeks and then it seems life is a blur of activity - holiday parties and family activities right up to New Year's Day.
This time of year many of you are moving into budgeting and forecasting season for 2009. Given the widespread uncertainty permeating the economic environment, the budgeting process will take on increased scrutiny. Making sure your budgeting process is thorough and your assumptions are realistic will be a necessity for the upcoming year. Our recommendation is to cut as much expense as you can without jeopardizing your organization. Encourage participation in the process and challenge your team to remove ten to twenty percent of operating expense. You may be surprised at the opportunities for savings they come up with.
More than ever, you need to move beyond the basic practice of focusing on the income statement to carefully analyzing the timing of your operating cash flows and your monthly working capital needs. As the banking industry reinvents itself and credit tightens, debt and equity financing will be both harder to close and will carry a higher cost of capital. Focus on capital requirements and sources will be a critical component of this year's budgeting process. Having been through the downturn experience ourselves and having helped many clients with it as well, we encourage everyone to take a hard look at their organization and prepare for the uncertainties we are facing.
October is a great time to anticipate other accounting and corporate governance activities. Unfortunately, they don’t take a break with an economic crisis. Year end corporate tax compliance, cash planning for year end bonus payouts and tax implications, defining 2009 schedules (such as pay dates and recurring meetings), and audit preparation are all areas that are best prepared for now.
Year end activities are usually in addition to rather than in place of our normal day jobs. Whether you are looking for help positioning in an uncertain economy, expertise in a certain area or an extra set of hands, we can help.
 Regards,
Scott Killingsworth
Interim Managing Director, Dallas
(214) 545-3600
skillingsworth@vcfo.com
vcfo has worked with clients through tough economic times in the past and we are dedicated to helping with issues pertaining to the current economic downturn. Read on for a support option from vcfo.
In response to the recent economic events, vcfo has partnered with a number of creative funding sources in order to provide alternatives to our clients facing unexpected liquidity challenges. If you need help evaluating the economy's impact on your company, consider engaging vcfo to perform a Comprehensive Credit Review. We will evaluate your risk, optimize your existing financing, and secure alternative funding sources if appropriate. >> Read more
Word on the Street: Tips from our friends
How does a good company optimize their situation in a down economy?
Dave Lee, Partner, Sentient Ventures
The answer to this question can vary by age and stage of the company, type of product or service, and the market in which it is focused. However, in all cases, ensure that the operation has solid staying power. If the business can make it through a downturn with the fundamentals intact and better yet some momentum, then the company is likely to emerge on the other side with less and/or weakened competition and the related opportunity to accelerate growth and significantly enhance market position. As such:
1) Clean up the balance sheet – Make sure that the operation has a solid fixed charge coverage ratio on any debt. The old adage “cash is king” becomes especially true in a down economy.
2) Review the business assumptions and adjust as appropriate – For example, key customers might have financial troubles, which might make collections take longer than expected.
3) Reevaluate cash intensive strategic decisions and delay these expenses where reasonable – Regional/international expansion, aggressive hiring, moving locations, M&A activity, and new product launches may not be wise during this period. Once the economy recovers, this will allow for an accelerated and perhaps a lower cost opportunity to implement these strategic decisions.
Lou Cicio, CFO, Boundless Corporation
An economic downturn is a terrible thing to waste. Watch for opportunities where others are turning a fearful eye, initiate new plans with optimism and caution. Call customers and prospects and point out again your firm's benefits. Finally, keep your head about you and don't get caught up in all the doomsday talk.
vrecruiting TM - Recruiting Solutions from vcfo
Process Outsourcing, Professional Search and Consulting
We are pleased to announce the launch of vrecruiting - recruiting solutions from vcfo. vrecruiting offers a suite of recruiting solutions to clients including: recruitment process outsourcing (RPO), accounting and finance professional search, contract recruiting/sourcing services, temp to perm, and recruitment consulting. This may seem to some like an unusual time to be launching a recruiting offering. Our belief is that now more than ever it is important to have the absolute best and brightest talent on your team. Let us help you make that happen in the most cost effective manner possible.
With vrecruiting you get a highly effective, results-based recruiting partner with a proven track record of producing extraordinary results. Our unique true team approach leverages the vcfo network and team of financial executives to identify and recruit the best candidates. vrecruiting has solutions ranging from conducting a mission critical finance executive search or rapidly hiring a team of software developers.
If we can be of assistance to you, or to anyone in your network seeking to fill a position or a candidate in need of a position, please contact Shelia Thompson, vrecruiting Director at sthompson@vcfo.com or (512) 450-6578
Read more about vrecruiting.
vhr TM - Human Resources Solutions from vcfo
HR Support, Project Based Work or Interim Assistance
We are also pleased to update you on vhr - human resources solutions from vcfo. Our solutions are customized and tailored to fit each clients' needs, whether you need ongoing HR support, project based work or interim assistance. In every engagement, we provide dedicated and experienced professionals to act as part of your team for as long as you need them. Working with our highly skilled team of HR experts will provide you timely access to best practice policies, procedures, tools and templates, enabling you to reach your business goals.
During the current economic uncertainty, vhr can help you with difficult decisions of staff reduction and cost cutting. For more information, visit us online. If you are wondering if outsourcing HR is right for you and would like to receive a comprehensive assessment, please contact Dana Duran, vhr Director at dduran@vcfo.com or (512) 450-6560.
Tap into our deep HR expertise, and gain a strategic business partnership that can help you implement and manage best practices in HR.
Read more about vhr.
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