Charles River CFO: Financial Management Resources

When your business is shipping product and generating revenue you need to aggressively manage financial operations so you can control growth and drive toward profitability. By relying on our Financial Management Resources, companies in this stage can focus on serving customers and building market share—and count on CRCFO for augmenting finance, accounting and tax resources. Expansion into new markets and new sales channels requires careful planning and proven accounting policies and procedures, and we provide the strategic guidance and the tactical implementation services that free your management team to focus on business growth.

Technical Accounting

CRCFO allows clients to avoid the cost of hiring Technical Accountants to deal with the myriad of technical accounting requirements every business faces throughout its lifecycle. You can rely on a single source for a proven methodology for managing technical accounting and reporting needs and related requirements, such as SEC compliance, GAAP, IFRS, internal controls, policy development and facilitating the audit process.

Most companies have a gap between their internal accounting resources and the audit requirements for technical accounting. CRCFO prepares our clients for audits by providing an experienced technical accounting team from the highest levels of the largest public accounting firms. Our technicians handle the widest possible range of technical areas, including derivatives, equity-based compensation, income tax, purchase accounting, etc.

Internal finance departments rarely have the expertise or the time to address technical accounting issues and CRCFO identifies and resolves these issues so that both our clients and their auditors are satisfied.

Interim Management

Experienced industry CFOs serve as temporary, contract, or interim CFOs, providing clients senior-level guidance without the need or expense to hire a new member of the management team. Our Interim CFOs work closely with the CEO, management team, and Board of Directors on strategic business issues.

Temporary, contract, or interim Controllers manage all transaction-based accounting, ensure that all accounting is performed in accordance with GAAP, and they oversee the monthly close. They prepare financial reports as needed, manage budgeting and forecasting and assist the CFO in modeling financial projections.

Interim CFOs are augmented by the availability of Interim Controllers, Accountants, and Bookkeepers to enable clients to maximize ROI.

Temporary Projects

Audit Preparation

Delivery of this service can include full audit preparation for all accounts or just preparation of auditable financial statements and footnotes. We identify any transactions or disclosures that do not appear to be in accordance with GAAP, and we create an audit binder, prepare a lead sheet for every balance sheet account and provide supporting documentation below the lead sheet that supports the current year’s balances. CRCFO will prepare a summary list of all major contracts that existed during the year under audit and generate a fluctuation analysis of current and prior year’s income statement accounts. Our team of professionals will develop or update each financial statement footnote, creating new footnotes when appropriate. We complete a GAAP disclosure checklist, and most of our Audit Preparation Services are provided by a CFO-level or Controller-level professional, with Accountants assigned for support and GAAP experts available to address complex technical areas.


CRCFO provides CFO-level services that conduct financial modeling, guide strategic planning and position clients for closing rounds of financing. We have a proven methodology for making sure your finances are clear and are attractively presented to potential investors, and we build strategic alliances with venture capitalists that you can leverage to identify and pursue the right investors to fund your business growth.

Government Grant and Contract Accounting

In today’s economic environment, smaller companies seek SBIR and STTR grants and other government contract awards. To submit proposals containing accurate and valid rates based on properly designed cost pools, these rates and pools need to be designed in accordance with the prevailing FAR and DAR regulations and Cost Accounting principles.

The difference between winning contracts and having the business be awarded to a competitor can be as simple as whether you will pull your proposal together with both solid technical writing that is responsive to the goals of the proposal solicitation, and with the cost submission components having rates and pools that survive government audit reviews.

The government grant and contract accounting experts at CRCFO are prepared to provide assistance to small companies in need of these services. These accounting consultants are skilled, competent accountants and controllers with prior grant and government contractor experience.

SEC Reporting

CRCFO completes SEC forms from first draft through the filing of the final reports. We assign Controller and/or CFO level professionals as needed, assume project management responsibility and develop a detailed calendar of tasks, due dates and responsibilities—and we manage change control throughout the entire process. We ensure compliance with GAAP, SEC, FASB, Sarbanes Oxley and any other relevant regulatory requirements, and we consult and advise management of key matters and issues relating to regulatory reports, addressing the impact of any material internal control deficiencies. CRCFO prepares for and participates in Audit Committee meetings and oversees the electronic filing of regulatory reports. Regulatory reports will be filed accurately, completely and on a timely basis, and they will meet all required filing dates and filing requirements.


We offer flexible income tax compliance and tax consulting services. The core deliverable for our income tax compliance service is income tax return preparation and consulting services. CRCFO offers a completed income tax compliance package consisting of all relevant income tax forms, schedules and attachments. Tax compliance services are delivered by qualified tax specialists. CRCFO also offers highly specialized and customized tax consulting services, and major areas of this service include:

Total Tax Outsourcing
Transfer Pricing Analysis
Sales Tax Advisement
State and Local Tax (SALT) Planning
Tax Rate Analysis
409A Deferred Compensation Valuation
R&D Credit Analysis
FIN 48 Analysis
Uniform Capitalization Analysis
UNICAP 263A Analysis
Tax compliance services are delivered by a Tax Director or VP of Tax, Tax Manager or Staff Accountant, depending upon the complexity and/or uniqueness of the consulting. Utilizing specialized tax professionals on an as-needed basis is substantially more cost effective than maintaining specialized employees for most entities, and companies that utilize the services of seasoned tax professionals usually realize significant tax advantages, such as lower effective tax rates.