Typical Engagement

Each business has its own specific set of financial challenges and concerns. Michigan CFO Associates, Inc. tailors each engagement to the unique needs of the client.

As an example, a “typical” engagement is outlined below for illustrative purposes.

Phase Description/Activity Time to Complete
1 Initial discussion of the client’s concerns Less than one day
2 Gaining an understanding of the business:

  • Products & Commercial Issues
  • Current Financial Status
  • Financial Reports & Tools
  • Organizational Issues
A few days to a few weeks
3 Creating and prioritizing a plan to address issues identified One day
4 Executing the plan A few days to a few weeks
5 Monitoring the key measurables on a regular basis. Assisting owners/managers in ongoing decision making. Assisting in both short-term and long-range planning. One day per month to two days per week depending on the business needs

Fees. Most engagements are based on a monthly fixed-fee after the scope of work has been determined. We have a variety of plans to meet almost any budget.