Andrew Tucker

Providing CFO services and Business Transition Services in the Carolinas

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About Andrew

Andrew Tucker

Charlotte, NC CFO

27 Years of Experience

Direct Contact

andrewtucker@b2bcfo.com

(704) 651-2216

Universities:

Queens University, Charlotte, NC

Pfeiffer University, Charlotte, NC

Certificates & Licenses:

BS-Business 1986, MBA 1992, CPA - NC

Organizations:

American Institute of Certified Public Accountants (AICPA), North Carolina Association of CPAs (NCACPA), Financial Executives Networking Group (FENG)

Contact Andrew Tucker and receive a free Discovery Analysis™

  • A confidential meeting with the business owner(s), then interview company staff.
  • Look at the company’s financial information and computer systems.
  • Benchmark financial information against industry averages.
  • Create a confidential report of our findings in The Strategy Gameplan™







Andrew’s Bio

Andrew has worked for more than 25 years in finance and accounting with experience in manufacturing, distribution / wholesale, real estate, government and not-for-profit industries. A Certified Public Accountant (CPA) licensed in North Carolina and a Chartered Global Management Accountant, he is a versatile and experienced manager with excellent communication, organizational & interpersonal skills. Andrew has made a point of learning and understanding the business side of the organization he works in so he can provide better service and advice to management.

A core philosophy: cash flow management is critical - you can run a business without a profit but cannot operate for long without cash!

A summary of his qualifications includes:

  • Accounting & Finance including financial statements, management reporting, budgeting and forecasting, job and project cost accounting, general ledger and cash flow analysis, international accounting, Sarbanes-Oxley compliance, credit, collections & receivables management and banking, customer and vendor relations
  • Computer skills in networks and PC applications, including Microsoft Office, accounting (QuickBooks Pro, Great Plains/Microsoft Dynamics, Lawson) & industry specific software
  • Operational expertise with multiple locations, workflows, policies & procedures and strategic planning with exposure to planned maintenance and renovations
  • Management & leadership abilities with experience from hiring to performance reviews to terminations including benefits administration

Core competencies and expertise includes:

  • Profit & Loss Responsibility
  • Inventory & Inventory Control
  • Budgeting, Forecasting & Cash Flow Optimization
  • Cost Reduction & Avoidance
  • Productivity & Efficiency Improvement
  • Team Building & Training
  • Policy / Procedure Development
  • Information Systems & Technology
  • Financial & Contract Negotiations
  • Relationship Management
  • International / Foreign subsidiary accounting
  • Risk Management

Some career accomplishments include:

  • Assisted three clients in setting up and starting their businesses
  • Discovered a $750K (approx.) payroll embezzlement scheme that resulted in prosecution
  • Identified more than $140K in revenue posted in error and unrecorded assets while working a contract accounting job
  • Suggested name for new Children’s Museum that was focus group tested and adopted

Andrew has a strong desire to utilize his skills, experience and work ethic to benefit other organizations. He has a service oriented approach, consultative approach and positive attitude which coupled with a willingness to learn would contribute toward the success and future growth of your company.

Andrew holds a Bachelor of Science in Business from Pfeiffer University and an M.B.A. from Queens University, both in Charlotte, N.C.. In addition, Andrew has a Certificate in Non-Profit Management from Duke University and is a graduate of the Leadership program sponsored by the York County, S.C. Chamber of Commerce. He is a member of the American Institute of Certified Public Accountants and the North Carolina Association of Certified Public Accountants. He is former treasurer of the Lancaster County (S.C.) Library Board, former treasurer of the Homelite Employee’s Credit Union, former member of the Finance Committee of the Children & Family Services Association of N.C. and former member of the finance committee of the BridgeHampton neighborhood in Charlotte, N.C..

He enjoys reading, music and classic movies. Originally from Asheville, North Carolina, Andrew lived many places while growing up in a military family. He currently lives in Charlotte, N.C. and has an adult daughter who lives in Charlotte.

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Recent Articles

Dec 8Andrew Tucker

2016 Sales Tax Changes: What to Expect in the New Year

Dec 8Andrew Tucker
Sales Tax

If you’re interested in knowing if there are changes in Sales Tax laws starting in 2016, there are a number of them!  Gail Cole in her blog for Avalara (www.avalara.com) tells you about them. Read the blog photo credit: State of Washington Tax Commission Sales Tax Token via photopin (license)

Dec 5Andrew Tucker

New Alliance Between TriNet and B2B CFO Allows SMBs to Receive Best-in-Class Financial and HR Services, All in One Place

Dec 5Andrew Tucker

SAN LEANDRO, CA — (Marketwired) — 12/01/15 — TriNet (NYSE:TNET), a leading cloud-based provider of HR services, today announced it signed a strategic alliance agreement with B2B CFO, the largest CFO and exit transition services firm in the U.S. Through the alliance, clients of B2B CFO can have both their financial and HR needs met through fully vetted access to TriNet services. B2B CFO and TriNet are combining their complementary offerings and capabilities to help joint clients grow quickly and

Dec 1Andrew Tucker

Where’s My Cash?

Dec 1Andrew Tucker
Cash flow

“The income statement that my accountant gave me says that I am making a nice profit, but I never seem to be able to have enough cash.”  Does this sound familiar? If this concerns you in your business, you are not alone. Here are some common issues that may affect the cash flow of a business: Invoices are not billed timely and promptly because supporting information has not been processed timely. Customers pay invoices short or delay payment because of product

Nov 13Andrew Tucker

Award Winning Author and INC. Magazine’s Editor-at-Large Bo Burlingham to Keynote B2B CFO®’s Annual Meeting

Nov 13Andrew Tucker
Bo Burlingham

B2B CFO®, the nation’s largest CFO and Exit Strategies firm for privately held businesses, announced today that award winning author and Inc. Magazine’s Editor-at-Large, Bo Burlingham will keynote the National Partners Meeting to be held April 28-30, 2016. The invitation-only annual event that brings together all of B2B CFO®’s Partners from across the country along with sponsors and special guests will be hosted at the Scottsdale Resort and Conference Center in Scottsdale, Arizona. “We’re so pleased to have Bo Burlingham

Oct 22Andrew Tucker

A Penny at a Time

Oct 22Andrew Tucker
Penny

Many business owners have seen that inefficiencies develop during times when the company is focused on sales growth versus cost containment.  Expenses, and the containment of them, become secondary as long as the products/services are delivered to the Customer.  Often, the first reaction to cutting costs is to cut payroll.  That’s not always the best thing to do.  Where do you go from there? The answer is in the details.  There are many and various ways to reduce costs.  You

Jul 9Andrew Tucker

U.S. Chamber of Commerce Names B2B CFO among Nation’s Top 100 Small Businesses at the 2015 Small Business Summit

Jul 9Andrew Tucker

B2B CFO’s Founder Jerry L. Mills brings top concerns of Small Business Owners and discusses Free Enterprise with members of Congress and Press. B2B CFO, the nation’s largest CFO and Exit Strategies firm for growth-oriented, privately held companies, was honored by the U.S. Chamber of Commerce with the prestigious Blue Ribbon Award. Selected from a record number of applications, B2B CFO was among 100 businesses in the nation, and the only Arizona-based company, honored by the U.S. Chamber at the

Aug 27Andrew Tucker

Sales Tax NEXUS – What’s it about?

Aug 27Andrew Tucker
Confused Boy Looking At Viewer

By definition, nexus means a connection exists. The term nexus is used in tax law to describe a situation in which a business has a “nexus” or presence in a state and is thus subject to state income taxes and to sales taxes for sales within that state. What Determines Nexus?  Nexus is determined differently for income taxes and for sales tax purposes, this blog focuses on sales tax purposes. For Sales Tax Purposes Nexus for sales tax purposes is less defined

Aug 4Andrew Tucker

Want More Recurring Revenue in Your Business?

Aug 4Andrew Tucker
Word Scrabble For The Word Revenue

Recurring revenue should be the mantra of every business, large and small.  Dollars that come in every month without fail are what keeps a company going through difficult times. Big orders are great and you always want them, but a solid recurring revenue strategy is what sustains companies over the long haul. Cell phone contracts are the best example of a whole industry that is built on recurring revenue.  They give you the phone to get your monthly contract. Where

Oct 23Andrew Tucker

What Form Should Your Business Be (pt. 2)?

Oct 23Andrew Tucker
Flickr Pie Charts And Free Accounts

In my previous blog, I presented   In my September column , we looked at mistakes to avoid when forming a partnership. Many entrepreneurs, however, aren’t comfortable in remaining a sole entity and require a level of legal protection not afforded by a sole proprietorship. That leaves a corporation or LLC as the next most viable option for a startup. While some owners think incorporation is only for “big” companies, there are a number of reasons even “small” entrepreneurs should think about

Oct 10Andrew Tucker

What Form Should Your Business Be?

Oct 10Andrew Tucker
Flickr Pie Charts And Free Accounts

Basically, there are three forms that one can use to start a business:  a Sole Proprietor, a Partnership or a Corporation.  Of course,  there are variants to these forms. Brad Sugars wrote a couple of articles for Entrepeneur magazine about this. This blog is about Partnerships, my next blog is on Corporations. Avoid These 7 Partnership Killers In theory, a partnership is a great way to start in business.  The reasons are simple: complementary skill sets, shared equipment or expenses, and

Sep 25Andrew Tucker

A Bookkeeping Program for Small Business

Sep 25Andrew Tucker
Bookkeeping programs

A bookkeeping program for small business is more than asking and answering the question “which software should I use?”  The accounting software is just the beginning of what a small, growing business needs to have in order to record the transactions, protect the interests of the owner(s) and help the business owner(s) achieve his/her goals. Here are a few tips on setting up a bookkeeping program.  A bookkeeping program should include five key and interconnected elements. A reliable, user friendly and

Sep 12Andrew Tucker

Do you have a written budget?

Sep 12Andrew Tucker
Every Paycheck Excel Spreadsheet

Some small business owners don’t see the need for a written budget while some have a budget but never look at it once it’s done.  Other businesses, perhaps your competition, have a written budget and use it to run and operate the business more efficiently.  The last quarter of the fiscal/calendar year is not the only time to think about a budget.   Almost every business owner “knows” their business needs a formal budget to help guide them in the

Aug 31Andrew Tucker

B2B CFO® Named to INC. 5000 List for Fourth Consecutive Year

Aug 31Andrew Tucker
B2B CFO logo 2

Company’s Founder and CEO Jerry L. Mills to Speak at Inc. 500|5000 Conference on Exit Strategies MESA, ARIZ. – (August 29, 2013) – B2B CFO®, the leader in CFO services for mid-market companies, today announced that it was named to the 32nd annual Inc. 500|5000 list. This marks B2B CFO®’s, fourth consecutive appearance on the prestigious list. Companies such as Microsoft, Oracle, Timberland, Vizio, Intuit, Jamba Juice and Zappos.com all gained early exposure as members of the Inc. 500|5000. “It

Jul 28Andrew Tucker

Crackdown on Misclassifying Employees as Independent Contractors

Jul 28Andrew Tucker
Hands That Are In Handcuffs

The Department of Labor and the Internal Revenue Service are both cracking down on the misuse and misclassification of employees as independent contractors (W-2 vs. 1099).   Following is an article written by B2B CFO® partner, Roger Kohl. Classifying employees as independent contractors is a hot button with The Department of Labor (DOL). It is anticipated that the DOL will ramp up this scrutiny. If workplace  “Right To Know” legislation, that could require companies to provide workers with written notice of

Jul 11Andrew Tucker

6 Classic Ways to Crash Your Company (from Inc.com)

Jul 11Andrew Tucker
Totaled Car In Crash On The Roadside

There are many different ways to unknowingly hurt or sabotage you company. Following is an excerpt of an article by Kimberly Weisul from Inc.com (read the entire article). Every fast-growth company eventually runs into at least one of these all-too-common obstacles. How you handle them can make the difference between success and high-speed smashup. Some entrepreneurs just don’t know how to operate in first gear. When you’re traveling at a high level of growth, encountering an obstacle can be downright

Jun 21Andrew Tucker

Working Capital: The Good, The Bad, and The Ugly

Jun 21Andrew Tucker
Boy Dressed As Blondie

Working capital is the excess of current assets over current liabilities and is a financial measure of liquidity or ability of a business to meet its obligations.  Current assets include cash, accounts receivable, inventory and other assets that are expected to be converted to cash within 12 months. Current liabilities include accounts payable and accrued expenses for salaries, taxes, interest as well as loan payments and other liabilities due within 12 months.  The GOOD news is that effective management of working capital

Jun 10Andrew Tucker

World’s Simplest Management Secret

Jun 10Andrew Tucker
Keep It Simple Stupid

Here is a blog written by B2B CFO® partner Ray Rucksdashel.  I think it’s worth sharing. Whether you manage 2 people or 2,000 people; whether you manage clerical types or you manage senior-level managers, the challenge is the same – how do you motivate the people that report to you (your “direct reports”) to do what you need when you need it without having to pay them a lot more money. “Forget what you learned in those management books” writes Geoffrey James who writes the Sales Source

May 22Andrew Tucker

Employee Turnover – Problem or not?

May 22Andrew Tucker
Worry Pretends To Be Necessary

Not worried about losing your best employees? You should be. The economy is still fragile in some areas. Unemployment is still high. You have no concerns that your employees will leave you. And if they do happen to leave, it will be no problem whatsoever to replace them. That seems to be the consensus according to a survey by the American Management Association. They surveyed nearly 1,000 companies and discovered that most aren’t concerned about losing their employees. Here’s what they

May 9Andrew Tucker

Managing Insurance Costs

May 9Andrew Tucker
Scrabble Spend On Top Of Dollar Bills

Every business needs to be covered by various forms of insurance. However, it’s often misunderstood that small companies do not face the same exposures and risks, and therefore do not generally require certain forms of insurance. This is not necessarily true. In fact, a small company will have a far more difficult time recovering from an catastrophic event (and insurance coverage blunder) than a large company will. One approach for small companies is to consider different kinds of insurance, with

Apr 19Andrew Tucker

10 Reasons Your Top Talent Will Leave You

Apr 19Andrew Tucker
Ten reasons your top talent may quit

A recent article from Forbes.com discussed some of the big reasons that top employees leave. Following are excerpts from the article: Have you ever noticed leaders spend a lot of time talking about talent, only to make the same mistakes over and over again? Unexpected departures of key staff can be very costly and disruptive. Ask any CEO if they have a process for retaining and developing talent and they’ll quickly answer in the affirmative. They immediately launch into a series

Apr 5Andrew Tucker

When Should a Small Business Hire a Financial Chief? (from the New York Times)

Apr 5Andrew Tucker
Old Man Sitting Under Question Mark

This blog deals with some of the major issues that small, growing businesses may confront.  An article from the New York Times provides a good summary of the complex issues small businesses may face. The article defines a number of tipping points that confront companies as they grow. But the primary issue was summarized by one business owner, who said: “I needed to hire someone who could function as my business partner and allow me to step away from the books so

Mar 29Andrew Tucker

The note-app winner (according to PC World)

Mar 29Andrew Tucker
Hand Holding Smart Phone

One of my favorite organizing tools, Evernote, is compared against two competitors, Google Keep and OneNote.  See what you think. Google Keep vs. OneNote vs. Evernote: We name the note-app winner: PC World Google shook things up last week when it dusted off its old Notebook service and relaunched it as Keep. Google’s new software muscles in on the space currently dominated by Microsoft OneNote and Evernote, two note-taking apps that save your text, Web links, photos, audio recordings, and

Mar 7Andrew Tucker

Seven Principles for Avoiding Bankruptcy

Mar 7Andrew Tucker
Bankruptcy Written On Chalkboard

Today, companies continue to face difficult times and, sometimes, difficult decisions. According to the American Bankruptcy Institute, more than 208,000 companies filed for bankruptcy between 2006 and 2010. The annual rate of bankruptcies nearly tripled during this time.   This number does not include businesses that have closed/ceased to exist or continue in business with some form of financial discomfort. An analysis of distressed middle-market companies would show that many of them could have avoided major issues by following some simple

Feb 20Andrew Tucker

Fraud Checklist

Feb 20Andrew Tucker
Icon Of Clipboard With Checklist

Let’s face it – there are  too many instances of fraud in the workplace.  Many times after the fraud is exposed, the money is gone with no chance of getting it back.  Someone who steals usually isn’t someone who saves and invests. In the following list are suggestions that a business can do to protect itself and strengthen internal controls.  If you are the person in charge of the accounting records, you need to make sure these items are in

Feb 7Andrew Tucker

Are your Financial Statements tied up in "nots"?

Feb 7Andrew Tucker

Are the following statements true and do they describe your financial statements? Not trusted by your bank, investors or other lenders Not prepared accurately Not understood by your accounting staff from an accounting, income tax, business and industry perspective Not issued in a timely manner each month Not reporting the amount you will owe the IRS and/or State on April 15 Not providing accurate cash flow projections Not identifying internal or external theft of cash or other assets Depending on how tied up in “not’s” your company’s

Jan 21Andrew Tucker

Does Your Business Need A CFO?

Jan 21Andrew Tucker

Entrepreneurs and small business owners can have excellent skills at managing their companies, including financial matters, but as the company grows and becomes more complex, most will reach a point when they realize it is time to step back and allow the financial matters to be handled by an experienced and qualified CFO. That important addition can make a tremendous difference in company operations and profitability. When a business owner is feeling the pressures of too much to do, or

Jan 4Andrew Tucker

Are you a "Better" company?

Jan 4Andrew Tucker

Let’s face it – some companies are better than others. Maybe the company has better brand image (or brands), larger market share, more innovative or proprietary products or some other attribute(s) that distinguish the firm from their competitors. Let’s look at a few characteristics: Competitive Advantage, Above-Average Management & Market Leadership. – Competitive Advantage Michael Porter pioneered the concept of Competitive Advantage and later added to the concept with his follow up book, Competitive Strategy. The theory of Competitive Advantage

Dec 11Andrew Tucker

Financial Resolutions for 2013

Dec 11Andrew Tucker

From the good folks at Fidelity, here is an excerpt of their suggestions for 2013: A month-to-month guide for helping you keep your financial resolutions in 2013. The shift to thrift This year, 52% of Americans listed “saving more money” as their top financial resolution, versus 46% last year. Paying off debt (19%) and spending less (19%) came in second and third, according to the study. This new frugality may come as no surprise, given the weak economic recovery. Of

Nov 28Andrew Tucker

Facing the Tax Cliff (Part 2 of 2)

Nov 28Andrew Tucker

This is Part 2 of 2. I have seen many articles and heard countless comments about the looming “Tax Cliff”, Taxmageddon or “Fiscal Cliff”.  The best article I have seen is from the Journal of Accountancy published by the American Institute of Certified Public Accountants (AICPA). Individuals changes were summarized in Part 1, Businesses are summarized here in Part 2. In June 2001, Congress passed the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) which dramatically reduced income, estate, and gift tax rates and changed

Nov 20Andrew Tucker

Facing the Tax Cliff (Part 1 of 2)

Nov 20Andrew Tucker

I have seen many articles and heard countless comments about the looming “Tax Cliff”, Taxmageddon or “Fiscal Cliff”.  The best article I have seen is from the Journal of Accountancy published by the American Institute of Certified Public Accountants (AICPA). I will summarize the article in two parts:  Individuals and Businesses. In June 2001, Congress passed the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) which dramatically reduced income, estate, and gift tax rates and changed Qualified and Retirement Plan rules.  Changes

Nov 9Andrew Tucker

Social Media Policy Tips

Nov 9Andrew Tucker

Some thoughts on creating a Social Media Policy…………. Have a plan – This should include an Introduction and Definition of Social Media. Not everyone is familiar with social media, tell them what it is (and isn’t). Explain the rational and reason for the policy – Provide some context why the policy is needed. Employees need to understand why the policy exists and what the company’s strategy is. Who the company will allow and when authorization is needed to make postings

Oct 23Andrew Tucker

New 401(k) Disclosure Regulations

Oct 23Andrew Tucker

Wednesday, November 14, 2012. If you provide a 401(k) plan to your employees, do you know what is supposed to happen by that day? This is the day that, according to the Department of Labor’s Employee Benefits Security Administration (EBSA), employees must receive their 401(k) statements for the previous quarter (45 days after the end of the third quarter (July through September)).  The significance of this statement is that it needs to reflect the fees and expenses (as a percentage

Oct 15Andrew Tucker

Is more always better?

Oct 15Andrew Tucker

In Seth Godin’s blog dated June 1, 2012, he wrote:  Is more always better?  Sometimes, only better is better. A simple enough statement but let’s examine it with some examples. a seller “giving” you more services to cover the shortcomings of a product a seller adding-on services to try to convince the consumer that he/she is receiving a better value Let’s look at this from a consumer’s standpoint. As consumers, we want better “stuff”, not more “stuff”. We don’t want

Oct 12Andrew Tucker

Happy Boss’s Day!

Oct 12Andrew Tucker

Great bosses can motivate you, inspire you and help you reach new heights in your career. If you are reading this, I am sure you have one. They can be called different things —supervisor, director, manager, chief, big kahunah, head honcho, grand poobah…you get the idea. If you have a great boss / bosses, be sure to let him / her / them know on Boss’s Day, Tuesday, October 16th.

Oct 9Andrew Tucker

What is a CGMA?

Oct 9Andrew Tucker

The American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA) have joined together to form a joint venture which powers a new designation for management accountants, the Chartered Global Management Accountant (CGMA). The CGMA is designed to elevate management accounting and further emphasize its importance for businesses worldwide. The CGMA recognises the unique role played by management accountants in businesses around the world who are guiding critical business decisions and driving strong business performance.  It sets a

Oct 3Andrew Tucker

Cash Flow Management

Oct 3Andrew Tucker

According to a survey released May 8, 2012 by the Kauffman Foundation, a Kansas City, Mo., research organization focused on entrepreneurship, more entrepreneurs are concerned about slow paying customers.  In 2008, only 2% of small business owners said getting paid was their most challenging problem but that figure jumped to 14% in 2010. A solid, healthy and reliable cash flow is needed by all business, large and small.  Businesses can operate with a loss on the Income Statement but can’t

Sep 28Andrew Tucker

What is a CFO?

Sep 28Andrew Tucker

The Chief Financial Officer (CFO) is primarily responsible for managing the financial risks of a corporation. This position is responsible for financial planning, record-keeping, financial reporting to higher management and has financial authority to make appropriations and authorize expenditures for an organization. You may also hear or see the terms Director of Finance or VP of Finance. The CFO typically reports to the Chief Executive Officer (CEO) / President / Owner and to the Board of Directors. Today, the role

Sep 20Andrew Tucker

The GamePlan®

Sep 20Andrew Tucker

B2B CFO® recently introduced The GamePlan®, our unique system to help business owners thrive while reducing their overall stress level.   Businesses that have adopted The Gameplan® have experienced increased company value, greater personal wealth and more free time, among other significant benefits. The first step of the process is The Discovery Analysis™.   The Discovery Analysis™ is a complimentary first step offered free to Business Owners.   This process includes a confidential meeting with the business owner and company staff, a review

Sep 12Andrew Tucker

MSSB and B2B CFO® Form Alliance

Sep 12Andrew Tucker

Morgan Stanley Smith Barney Announces Alliance with B2B CFO® Professional alliance offers more holistic approach for business owners Morgan Stanley Smith Barney has announced a new national alliance with B2B CFO®, the largest CFO services firm in the United States.  This agreement provides an innovative blueprint for a coordinated effort to meet both the corporate   and personal wealth management needs of privately held businesses and their owners. The relationship, formalized through Morgan Stanley Smith Barney’s Professional Alliance Group, allows B2B CFO® to refer clients

Aug 22Andrew Tucker

For the third consecutive year, B2B CFO© ranks among America’s fastest growing companies

Aug 22Andrew Tucker

Despite tough economy, B2B CFO continues record growth and takes spot in the prestigious Inc. 5000 list Phoenix, Ariz. – August 21, 2012 – B2B CFO, the nation’s largest provider of CFO services, has been named to the prestigious Inc. 5000 list of fastest growing companies in America for the third consecutive year. The annual ranking by Inc. Magazine judges US-based and privately held companies by their revenue growth. This year’s list was ranked on the percentage in revenue increase