Replies to post #25075 on CurAegis Technologies Inc (fka CRGS)

[ubetcha]

Good Question. Found this:

When is it time to hire a startup CFO?

1 Look for a CFO once you have institutional investors and/or you’ve raised more than $500,000. Investors expect to see correct, accurate, and dependable financial statements. That means GAAP, accrual based, statements. Take a look at David’s previous post on startup financials for more on why this is so important.

2 Once your business has started generating real revenue, it’s time to hire a CFO to make sure that your reporting is dealt with properly. Accounting rules concerning revenue recognition are not only highly specific, often requiring analysis, they are also changing, with FASB phasing in new rules starting later this year.

3 Your business’ complexity, financial activity, or expenses have increased.

4 When you’ve reached a pain point.