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Financial Records & Reporting

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Financial Records & Reporting

How up to date are your books?

90+ days behind 60-90 days behind 30-60 days behind Mostly current with occasional delays Up to date within 30 days Real-time or near real-time

Financial Records & Reporting

How confident are you that your financial reporting is accurate and useful for decision-making?

Not confident at all Mostly reactive and unreliable Somewhat inconsistent Generally reliable for decisions Strong confidence in reporting Fully trusted and actively used for strategic decisions

Financial Records & Reporting

How organized, complete, and accessible are your financial records and source documents?

Disorganized and difficult to access Mostly reactive and incomplete Somewhat organized but inconsistent Generally organized and accessible Well organized and consistently maintained Fully organized, centralized, and easily accessible

Cash Flow & Financial Stability

How often do you worry about running out of cash?

Constantly Often Occasionally with significant concern Occasionally but manageable Rarely Never

Cash Flow & Financial Stability

How many months of cash runway/reserves do you have?

None Less than 1 month 1-2 months 3-5 months 6+ months Strong reserves with ongoing cash planning

Cash Flow & Financial Stability

In the past 6 months, have you delayed payments to vendors or tax authorities due to cash constraints?

Frequently Multiple times Occasionally Rarely Once or twice under unusual circumstances Never

Cash Flow & Financial Stability

Do you have access to financing if needed?

No access to financing Limited access and low confidence Some access but uncertain Moderate access with some flexibility Good access to financing options Strong financing access and lender confidence

Cash Flow & Financial Stability

How far ahead can you confidently forecast your business finances?

Less than 2 weeks Less than 1 month 1-3 months 3-6 months 6-12 months 12+ months with strong forecasting confidence

Cash Flow & Financial Stability

Do you track profitability at the project, job, or department level?

Not tracked at all Rarely tracked Tracked inconsistently Tracked in some areas Tracked consistently Fully tracked and actively used for decision-making

Profitability & Business Performance

Do you know which products or services are most profitable?

No visibility at all Very limited understanding Rough estimates only General understanding with some reporting Clear understanding with reliable reporting Fully measured and actively optimized

Profitability & Business Performance

How well do you understand the drivers of revenue, margin, and cash generation?

No clear understanding Very limited visibility Basic understanding only Good understanding with regular review Strong understanding supported by reporting Deep understanding integrated into strategic planning

Profitability & Business Performance

Do you have a written down budget you compare regularly against?

No budget exists Informal planning only Budget exists but rarely reviewed Budget reviewed periodically Budget reviewed regularly and used operationally Dynamic budgeting integrated into planning and decisions

Profitability & Business Performance

Do you have clear key performance indicators (KPI) that are regularly tracked and reported?

No KPIs tracked Limited KPIs with inconsistent tracking Some KPIs tracked manually KPIs tracked regularly KPIs integrated into reporting and management Real-time KPI visibility used across leadership

Profitability & Business Performance

How consistently are financial reports used to make operating and strategic decisions?

Rarely used for decisions Used reactively only Occasionally referenced Used regularly for operational decisions Integrated into strategic planning Central to ongoing operational and strategic management

Profitability & Business Performance

Do leadership teams have clear visibility into business performance throughout the month?

No visibility until after month-end Very limited visibility Partial visibility with delays Generally good visibility Strong visibility with timely reporting Real-time visibility into performance and trends

Profitability & Business Performance

Do you currently have financial support when making major business decisions?

No financial support available Rarely receive financial guidance Occasional support when issues arise Regular support for some decisions Strong financial guidance for major decisions Ongoing strategic financial advisory integrated into leadership

Planning, Forecasting & Decision Support

How clearly are finance responsibilities owned across your internal team and external advisors?

Roles and ownership are unclear Significant overlap and confusion exist Some responsibilities are defined Most responsibilities are clearly assigned Strong ownership and accountability structure Fully aligned finance structure with clear accountability

Planning, Forecasting & Decision Support

How often do you coordinate with your tax accountant?

Only during emergencies or deadlines Less than once per year Once per year A few times per year Regular ongoing coordination Continuous proactive collaboration throughout the year

Tax & Compliance

How proactive is your year-round tax planning, not just year-end filing?

Entirely reactive Mostly focused on filing deadlines Some planning but inconsistent Regular planning discussions occur Strong proactive planning throughout the year Tax planning is fully integrated into strategic business decisions

Tax & Compliance

How prepared are you for a lender review, audit, CRA query, or due diligence request?

Not prepared at all Significant gaps would exist Some preparation but inconsistent Generally prepared with moderate effort required Strong readiness with organized records and reporting Fully prepared with institutional-quality reporting and controls

Tax & Compliance

How much operational stress does payroll currently create for your business?

Constant stress and recurring issues Significant operational burden Moderate stress and inefficiencies Generally manageable Well controlled and low stress Fully streamlined and highly reliable

Tax & Compliance

How confident are you in payroll compliance?

No confidence Significant concerns exist Some uncertainty remains Generally confident Strong compliance confidence Fully compliant with strong controls and processes

Tax & Compliance

Are you using cloud accounting software?

No accounting system in place Mostly manual/spreadsheet-based Desktop or limited accounting software Basic cloud accounting setup Well-utilized cloud accounting ecosystem Fully integrated cloud-based finance environment

Tax & Compliance

Do you use automation for invoices, bills, or reporting?

No automation at all Mostly manual processes Limited automation in isolated areas Moderate automation across workflows Strong automation supporting operations Highly automated workflows integrated across the business

Systems, Automation & Scalability

How much of your financial workflow is still manual?

Entirely manual Mostly manual Some automation but heavy manual work remains Balanced automation and manual processes Mostly automated Highly automated and scalable workflows

Systems, Automation & Scalability

How integrated are your accounting, payroll, sales, and operational systems?

Completely disconnected systems Minimal integration Some systems connected manually Moderate integration across departments Strong integration and centralized visibility Fully integrated systems with real-time reporting

Systems, Automation & Scalability

How automated are your finance workflows versus manual and spreadsheet-driven?

Entirely spreadsheet/manual driven Mostly manual workflows Partial workflow automation Moderate automation with good efficiency Highly automated finance operations Fully scalable automated finance infrastructure

Systems, Automation & Scalability

How ready is your finance function to support the next stage of growth?

Not ready for growth Significant operational gaps exist Some scalability limitations exist Moderately prepared for growth Well positioned to support scaling Fully scalable finance infrastructure supporting long-term growth

Systems, Automation & Scalability

How confident are you in your tax planning?

No confidence Mostly reactive and uncertain Limited confidence Generally confident Strong confidence with proactive planning Fully integrated and strategic tax planning

Systems, Automation & Scalability

How well managed are receivables, payables, inventory, and collections?

Poorly managed and reactive Mostly reactive with frequent issues Some processes exist but inconsistent Generally managed effectively Strong controls and visibility Highly disciplined and proactively managed

Financial Maturity Check Assessment

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