[WANTED]: Accounting Professional for Contract Work (Richmond/Vancouver)

[BIC_BAWS]

Looking for an accounting professional to create the financial section of a business plan for a start up in the early development stages. Ideally, the applicant should have their CPA/CFA, however, it is not a hard requirement - as long as the applicant is able to conform to IFRS standards for Financial Reporting.

This offer may lead to a CFO position upon launch.

PM if interested.

[tiger_handheld]

IFRS for start up??

Why?

What sector is this start up in? Seems over kill.

[BIC_BAWS]

Originally Posted by tiger_handheld

IFRS for start up??

Why?

What sector is this start up in? Seems over kill.

It's for the tech sector (app development). Since we're very well affiliated with investor relations, our next step after launch will be to eventually go public (for funding). And we want everything done properly for private placement investors.

[Gerbs]

I thought you need a CPA to sign off the the financial statement as "audited" and "reviewed" to bring them to investors?

Are you planning to list on TSX-V (lots of regulation requirements) eventually? Cool opportunity for a RS member to hop in

[tiger_handheld]

Originally Posted by BIC_BAWS

Looking for an accounting professional to create the financial section of a business plan for a start up in the early development stages. Ideally, the applicant should have their CPA/CFA, however, it is not a hard requirement - as long as the applicant is able to conform to IFRS standards for Financial Reporting.

This offer may lead to a CFO position upon launch.

PM if interested.

Originally Posted by BIC_BAWS

It's for the tech sector (app development). Since we're very well affiliated with investor relations, our next step after launch will be to eventually go public (for funding). And we want everything done properly for private placement investors.

Sounds like you are making it way to complicated for a start up.

I can recommend you a consultant CFO who can put together basic financial forecast - the most important thing for you is cash flow not IFRS conformity.
Think of IFRS as the Lambo and ASPE as the Kia. You are using a lambo to go grocery shopping when a Kia will do.

After you operate for a few years and have some traction, you build a finance team with a proper cfo and vp finance who has taken companies public, investors will bank roll you through all the IPO costs.

You are thinking of competing in the olympics when you are not even crawling yet.

Ps: can i be your consultant - i can save you money haha

[Gerbs]

^
I've had coworkers that did consulting for start-ups and helped them get bought out. It's crazy how they are able to charge like $150 - 250/hr for contract work and they even reject certain projects. But when you speak to them you can tell that they are at a different intellect level than most people.

[bcrdukes]

I can only assume that the OP has the absolute hard requirement of an accountant who is capable of conforming the financials to IRFS standards. I am quite familiar with that world and what OP is trying to achieve.

Often with IFRS compliance, comes a financial background, and that often means a CPA/CFA designation. The secondary requirement here is this individual is experienced in building out a financial trajectory for "x" amount of time over the course of the project, and be able to provide guidance to keep the project a sustainable one. You will want to get your IFRS pat down at the beginning stages of your project, but should not be a hard requirement from day one.

OP - I think you may need to reword your statement in what you are looking for in order to get your message across. What you are asking for is a bit of a double edged sword; you actually need a a consultant with a professional designation, and has experience with IFRS standards. Because I have several years of experience in this field, you may want to redefine your scope and requirements, and seek a real professional. What you are asking for, you cannot just find someone on the street easily. Someone with IRFS compliance experience will likely have a professional designation. I'm not saying they don't exist, but you will be better off finding someone who has both to start with.

[Gerbs]

How much would the hipster charge

[bcrdukes]

Originally Posted by Gerbs

How much a would the hipster chage

Well...

Originally Posted by GLOW

no one said being a hipster was cheap.

[BIC_BAWS]

Finding funding would not be difficult for us. One of our partners is regularly a fundraising manager - sets up companies with private placement investors.

I think the idea of this is that the candidate should be able to produce financial reports/come up with a financial plan that conforms to at least ASPE, or GAAP, if GAAP is still a thing. I'd do it myself, but I haven't actually used GAAP/ASPE in real life, just at school. Bookkeeping and actually doing full-cycle accounting is easy, I do it everyday. I'm personally not confident about reporting.

The whole goal is just not to get shot out of the water by investors. You'd also have to come up with numbers and budgeting, for forecasted reports.

That said, if any of you guys, Gerbs/Hipster/Tiger, are interested, I'd be happy to set up a meeting with my CEO.

[bcrdukes]

If you aren't confident in reporting, don't do it. You will need a solid foundation of financial reporting experience, and IFRS is not something to delve into if you don't know what you are doing. I am still of the opinion of seeking a tenured professional with your project. Not to knock the other posters in this thread, but I know what it is that you are trying to do, and you need to get the IFRS part right the first time. If you do it later, you will have failed before things even take off.

I'm out on this one; I don't even know what I'm talking about.

[tiger_handheld]

Originally Posted by BIC_BAWS

Finding funding would not be difficult for us. One of our partners is regularly a fundraising manager - sets up companies with private placement investors.

I think the idea of this is that the candidate should be able to produce financial reports/come up with a financial plan that conforms to at least ASPE, or GAAP, if GAAP is still a thing. I'd do it myself, but I haven't actually used GAAP/ASPE in real life, just at school. Bookkeeping and actually doing full-cycle accounting is easy, I do it everyday. I'm personally not confident about reporting.

The whole goal is just not to get shot out of the water by investors. You'd also have to come up with numbers and budgeting, for forecasted reports.

That said, if any of you guys, Gerbs/Hipster/Tiger, are interested, I'd be happy to set up a meeting with my CEO.

GAAP - generally accepted accounting principals

Some generally accepted accounting principals are:

ASPE - accounting standards for private enterprise (canada)
IFRS - int'l fin. reporting standards (global)
United States GAAP - US only

The main difference between ASPE and IFRS is disclosure requirement. Some treatment is different (like leases). But seriously no one gives a shit on these details when you are trying to fund raise. You should ask your fundraising manager. I disagree on the IFRS requirement - seriously.

Just engage one of these guys to put a financial forecast for your strat plan for funding - https://www.thecfocentre.ca/
You can convert to IFRS from ASPE when you are funded and ready. Why spend $ on unneeded costs up front?

I'm not interested in taking this on but talk to your CEO, if he's of the same opinion as me, you can pm me and can point you in direction.

[bcrdukes]

Good luck, OP.

[franco1]

Based in Africa ATM but am a CPA, CA. PM me if you need any help/advice

[Gerbs]

I believe Tiger is a CPA and seems to the be the most valuable asset in this thread