Jerry Joyce was working as the Vice President of Finance for Friden-Alcatel in 1983 when he began referring his accounting and finance associates to clients who had a need for the services of senior accounting personnel. His referrals became so popular that he decided to leave the corporate world and start The Interim Controller. That was over 2,500 engagements ago and now, 35 years later, the company continues to provide solutions for routine engagements and for difficult accounting and finance situations.
THe basic philosophy of the interim controller starts with...
The person who does the work, gets the lion’s share of the reward
What goes around, comes around
Our large group of core associates has been connected to us for a long time ... some as long as the 35 years we have been in business. Our staunch belief in the $ 10.00 per hour difference in client billing vs. consultant payment, allows our clients to have a higher quality resource for the same rate as other providers, or the same level resource for a lower rate. That difference also allows the associate to receive the “lion’s share” of the reward.
We need answers
Getting answers from the accounting system needs to be effortless. We believe in the 10-second rule, which says that any accounting information request needs to be satisfied within 10 seconds. If it takes longer, then one or more of the following is usually true:
The accounting system is set up incorrectly
Data is not being recorded correctly or on a timely basis
Reports are not properly defined
Good financial information allows for good operating decisions. Good operating decisions allow for higher profitability. Without basic decision-making financial tools, a company is handicapped from the beginning. Management can only guess at proper operating adjustments for profitability.
Who needs accuracy?
Good financial data is required by:
Potential buyers or merger partners
Not only is good financial information needed, it is required and often carries significant penalties if it is not available or is presented inaccurately.
Let’s get it right
The interim Controller provides Controller level and related support services on a full or part-time basis at the client company's site, usually as an integral part of the management team. The interim or “in-between” part of our special focus relates to five principal situations:
An established company that is temporarily without the services of a full-time Controller (or similar accounting officer),
An emerging company that has outgrown the resources available internally to perform Controller level functions, yet may not be quite ready for a full-time, permanent employee,
A company with a viable future that has the need to effect an arrangement with its unsecured creditors, sometimes called a non-statutory debt restructure,
A company that has the need to reconstruct some, or all, of their accounting records in order to provide meaningful financial information that can stand the test of an independent audit,
A company that is preparing for an annual audit and needs support in reconciling accounts.
How we do it
Through a closely allied network of independent Controller level consultants, we are able to provide hard-working, “shirt-sleeve” resources at each key level of a finance organization. We use the team concept of accounting management to ensure that problems are identified, discussed and resolved quickly. We also find this approach very beneficial in having the knowledge “stored” in more than one place, and in being able to pass the information more completely to the permanent Finance organization. This is more than a simple “Rent-a-Controller”. It is the use of a team of specialized-skill people to accomplish what needs to be done . . . in a shorter period of time . . . in a more cost effective manner.