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Overview

The Virtual CFO service is designed specifically for 8(a) and other small businesses that must interface with the Small Business Administration (SBA) or the Federal government to overcome one or more of the following issues at a cost that they can easily afford.

• Cannot successfully apply for 8(a) certification because they are unable to provide the SBA with financial statements that are acceptable to the SBA
• Find it difficult and expensive to produce the periodic financial reports necessary to remain eligible to participate in the 8(a) program once they get certified
• Often are surprised to be challenged by the SBA re: such issues as:
  - Excessive withdrawals of funds by applicants from their firms
  - Exceeding the net worth limitations imposed by the SBA to
  - Remain economically disadvantaged throughout their 8(a) participation term
  - Exceed the financial figures and ratios that continue to prove that their company is unable to secure credit and capital on reasonable terms
  - Provide the SBA with expensive to produce licensed CPA prepared "reviewed" or "audited" financial reports dependent on their revenues
• Cannot pre-determine the prices that they must charge for their products and services to achieve profitability because they cannot effectively predict the costs of running their firms and/or producing their products or providing their services because they often lack one or more of the following:
  - Annual operating budgets
  - Periodic comparisons of their actual costs versus their budgeted costs
  - Sales and contract booking forecasts that permit such Management decisions as "hiring versus reductions in force or operating costs"
  - Cash-flow forecasts that enable timely management actions, such as seeking financial lines of credit in a timely manner
  - DCAA approved overhead, general and administrative and Associated labor categories and rates that provide for acceptable proposal pricing to the Federal Government

Features

The Virtual CFO Service will provide a customized set of financial services to clients on a multi-level basis. That means that clients can acquire just the level of service that they need and upgrade to the next level of services as the need arises. Here are the four levels of financial services available to clients dependent on their needs today and tomorrow:

LEVEL 1
Preparation of Financial Reports Required for 8(a) Certification This service is designed to prepare the financial reports required by the SBA to be 8(a) certified for those applicant firms that do not have SBA acceptable financial data. EZCertify shall prepare a QuickBooks file for each client, using available information that we will request from the client and shall deliver the balance sheets, income statements and accounts payable and accounts receivable aging reports for all of the time periods required by the SBA, in a format that will be accepted by the SBA for 8(a) certification purposes. The one-time cost for this service shall be based on the client’s revenue and the level of detail shall also be revenue based. Call for details about pricing, client data requirements and the level of detail that will be provided by EZCertify, dependent on your revenues and data availability.

LEVEL 2
Preparation of Financial Reports on a Monthly Basis This service is designed to prepare the financial reports required by any small business on a monthly basis. As above, EZCertify shall prepare a QuickBooks file for each client, using available information that we will request from the client and shall deliver the balance sheets, income statements and accounts payable and accounts receivable aging reports, as well as a cash flow analysis, and bank reconciliation reports. The monthly cost for this service shall, as above, be based on the client’s revenue. Call for details about pricing, client data requirements and the level of detail that will be provided by EZCertify, dependent on your revenues and data availability.

LEVEL 3
The Virtual CFO Service This service will include all of the features of the Level 2 service above and in addition will include:

• Monthly review of compliance with all of the SBA’s requirements re: continued eligibility to participate in the 8(a) program
• Monthly and quarterly reviews of compliance with the RMA figures/ratios required to maintain “economic disadvantage” status of the participant firm
• Development of annual sales forecast and their update on a monthly basis
• Development of cost budgets and the provision of monthly forecast versus actual performance variance analyses
• Monthly calculation of overhead and general/administrative cost rates

Again, just call for details about pricing, client data requirements and the level of detail that will be provided by EZCertify, dependent on your revenues and data availability.

LEVEL 4
Reviewed or Audited Financial Reporting and Tax Preparation Service This service will provide for the timely production by licensed CPA’s of reviewed financial statements (i.e., required for all 8(a) firms with annual revenues between $1M and $5M) and for audited financial statements (i.e., required for all 8(a) firms with revenues in excess of $5M). This service will also include the timely preparation of the annual Federal and state tax returns for the firm. Again, just call for details about pricing, client data requirements and the level of detail that will be provided by EZCertify, dependent on your revenues and data availability.