A Professional Consulting Firm 
Providing CFO, Controller 
& Accounting Services on a 
Fractional Basis.

Frequently Asked Questions


At Double K Consulting we believe that the relationship with our clients should be as transparent as possible.  Below are answers to some of the most common questions and general guidance as to what we provide and how a relationship with our firm would fit with your organization.  As always, please fell free to e-mail us with any additional questions or comments that you may have.  Our initial consultation and e-mail correspondence is free of charge.

 

1)

When/why should I use an outsourced CFO, Controller or senior level accounting professional?

2)

How do your engagements fit within our organization?

3)

Do you work at our office or offsite?

4)

Do you charge for the initial consultation and what happens at that meeting?

5)

Will I lose control of my books and records?

6)

What agreements are signed?

7)

Who will be working on my engagement?

8)

What makes you different from a temporary agency?

9)

If we hire Double K Consulting, what is our commitment?

10)

What do you charge?

1) 

1)    1)     When/why should I use an outsourced CFO, Controller or senior level accounting professional?

There are several reasons to use an outsourced CFO, Controller or senior level accounting professional at your organization.  Many are discussed on the Advantages of Outsourcing tab of this site.  Perhaps the most common reason is for organizations that don’t have the need for a full-time CFO, Controller or senior level accounting professional or it is not cost effective to employ one.  Another common reason is when your internal bookkeeper, accountant, office manager or administrative personnel require or could benefit from the guidance and experience of a CFO, Controller or senior level consultant on an on-going basis.  Lastly, your organization could benefit from an independent advisor who can recommend and implement improved policies, procedures, system use, reporting and analysis.

 

2)    2)     How do your engagements fit within our organization?

At Double K Consulting we offer two types of engagements, each of which is custom tailored to your organization.

Retainer Based – These engagements are for companies that require monthly oversight in the form of an outsourced CFO, Controller or senior level accounting professional.  A scope of work and responsibilities is developed along with monthly deliverables, improvement initiatives and annual goals.  This is a long term relationship engagement similar to one that you may have with an outside counsel and follows the benefits and value-added services listed on the Nonprofits & Associations Small Businesses tabs on this website.  These engagements are billed monthly at a flat, all-inclusive rate.

Project Based – These engagements are project or task specific such as creating a budget, process improvement, internal control assessment and implementation, audit assistance, etc.  On these engagements we work with the employees involved in the process or procedure after a set statement of work is agreed to.  A project plan is developed and updated throughout the process with specific deliverables and updates provided at specific intervals.  These engagements are billed hourly or for one flat fee.

 

3)    3)     Do you work at our office or offsite?

We work virtually and utilize a number of platforms to accomplish this including QuickBooks Online, Xero, DropBox, Google Docs, Skype and more.  We communicate using Skype and other platforms and share screens as needed.  You will think we are down the hall and are available before, during and after business hours including weekends.

 

4)    4)     Do you charge for the initial consultation and what happens at that meeting?

We do not charge for the initial consultation or e-mails and correspondence relating to the potential engagement.  The initial consultation, e-mails and potential follow-up is used to define the scope of work to be performed, our responsibilities and the deliverables you can expect.  We also want to make sure that Double K Consulting is a "good fit" for you and your organization.  We do not work with all organizations that approach us for our services if we feel we can’t provide a benefit to them.

 

5)    5)     Will I lose control of my books and records?

Absolutely not.  You will actually have increased control as the accuracy of your books and records will be greatly improved and the data from which you make decisions will be more meaningful.  Your books and reports will become a true management tool.  We do not recommend changes without first reviewing the impact with appropriate personnel and defining the new process.

 

6)    6)     What agreements are signed?

Once the scope of work and rate is agreed to, your organization and Double K Consulting will sign a consulting agreement.  For retainer-based engagements this is a one-year agreement that you can cancel with thirty days notice.  For project-based agreements, the agreement covers the anticipated timeline and deliverables for the engagement.  In addition, we will sign a non-disclosure and confidentiality agreement so all information regarding your organization remains confidential and is protected.

 

7)    7)     Who will be working on my engagement?

The Managing Director at Double K Consulting is Kevin Kennedy and he oversees all engagements. For most engagements, Kevin Kennedy will be the lead and sole consultant working on your engagement.  For some special projects, Double K Consulting may bring in other consultants but your organization will approve all personnel assigned to your engagement beforehand.

 

8)    8)     What makes you different from a temporary agency?

We are much more flexible and base our engagements on building and maintaining a personal and professional relationship with the organizations that we work with.  We are able to schedule and work around the schedules of you and your employees, not necessarily following a fixed day(s) or time schedule.  Further, you are working and scheduling directly with your assigned consultant and not a manager that is off-site.


9)     
If we hire Double K Consulting, what is our commitment?

                              In addition to the agreements noted here you would commit to the following:

•  Access to needed personnel – We work around schedules as needed.
•  Access to computer systems – We will need access to your accounting system and potentially other systems on your network but with proper controls in place.
•  A place to work at your location – All we need is an empty desk, table or cubicle.

 

10 10)     What do you charge?

I am sure we are not the only firm you will be looking at and for most their rates are not published.  At Double K Consulting we are different and believe in transparency.  We believe your time is valuable and do not want to take up your time with meetings when your budget will not support the services we offer.  In general, our monthly agreements range from $500 to $3,000 or more per month.  When pricing, we look at the anticipated commitment we will need to make for a twelve month period so there are no additional charges or surprises for you during the audit, budget process or other periods in the business cycle that are more time consuming.  We also offer agreements with a low hourly rate.