Outsourced Chief Accountant and Financial Controller Services
An experienced Chief Accountant and Financial Controller, without creating a full-time position.
Fractional Chief Accountant / Financial Controller
For companies that require the expertise of an experienced Chief Accountant and Financial Controller, we offer a flexible alternative to hiring a full-time employee – outsourced Chief Accountant and financial control services.
The Fractional Chief Accountant / Financial Controller cooperation model enables a company to access the professional expertise of an experienced finance specialist according to its actual needs and workload, without creating an additional full-time position.
The service can be provided while retaining and professionally supporting the company’s existing accounting or finance team. MB BALANCE can assume selected Chief Accountant and Financial Controller responsibilities, oversee financial processes, or coordinate the company’s entire finance and accounting function.
This cooperation model is particularly suitable for:
- growing companies that require a higher level of financial control;
- companies with an in-house accounting or finance team that requires professional management and supervision;
- international companies with branches or related entities in several countries;
- companies preparing for an audit, raising investment, or undergoing significant structural changes;
- situations where temporary or permanent cover is required for a Chief Accountant or Financial Controller;
- companies for which hiring a full-time financial management specialist would not be economically justified.
As part of the cooperation, MB BALANCE can provide:
- management and control of monthly, quarterly, and annual financial closing processes;
- oversight of accounting records and the quality of financial data;
- coordination of the preparation and review of financial statements, management reports, and key financial indicators;
- budgeting, financial forecasting, and comparison of actual results against the budget;
- analysis of revenue, expenses, profit, and profitability;
- cash flow monitoring and forecasting;
- control of accounts receivable, accounts payable, inventories, fixed assets, and balance sheet accounts;
- oversight of cost accounting, inventory valuation, and product or service cost-calculation processes;
- assessment and improvement of accounting processes and internal control systems;
- identification of tax risks and supervision of tax compliance;
- support during audits, annual report preparation, and financial review processes;
- cooperation with the company’s management, finance teams in Latvia and abroad, external auditors, tax advisers, banks, and other stakeholders;
- advice to management on accounting, taxation, budgeting, financial control, and business development matters.
The scope, frequency, and level of involvement are tailored to each company’s individual needs – from periodic reviews of financial data and monthly management reporting to the ongoing provision of the Chief Accountant or Financial Controller function.