CFO Services

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About Company

The client company is a medical equipment manufacturing firm in its early revenue stage. The company produces its products in China and its main market is the USA.

Situation

The firm sought outsourced CFO services from Hundred MS. The company closed a couple of successful government contracts in the past and understood that clear, clean, and accurate finances and metrics are pivotal for keeping a competitive edge in winning future tenders. Hence, the mastery of finance measures was key to opening opportunities in the future. Their goal was to set high financial standards early to keep the company’s finance strategies clean, complete, and optimized so they could continually maintain an athletic position to be able to take advantage of opportunities as they came.

The Challenges

The company’s books required significant clean-up. A great number of transactions demanded corrections and adjustments. Inventory levels were misrepresented and required validation. Financial statements were incomplete, and the company couldn’t share the financials with auditors whilst nearing the filing of the annual return.

The Solution

Hundred MS provided comprehensive CFO services as well as bookkeeping and controller services. These services included:

  • Set up QuickBooks for manufacturing with a proper chart of accounts and detailed Bills of Materials for resource tracking and materials planning
  • Implemented proper inventory control procedures and materials handling practices to better safeguard and track inventory from manufacturing to distribution
  • Corrected the erroneous accounting records and tied them with source documents
  • Prepared financial statements in accordance with GAAP
  • Obtained and provides timely audit documentation to the auditors
  • Set up monthly reporting and MIS

The Impact

The company was able to close its books on a monthly basis and could generate timely and accurate financial statements. Inventory levels were corrected, and the ERP was set for proper inventory management. Full audited support was extended, and the audit progressed without loss of momentum.

Controlling leadership | GAAP financial reporting | Monthly close | ERP implementation | Inventory management | Audit Support | Reconciliation

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Narek
Narek Abgaryan
Narek is the CEO of Hundred MS. Before embarking upon this position, he accumulated insightful experience including the positions of CEO, Head of Research and Member of the Board at various licensed and regulated investment companies. Narek is a graduate of Hult International Business School, Armenian State University of Economics and is currently pursuing his education at Saïd Business School of the University of Oxford. Narek is a CFA charter holder and a certified FRM.
CFA, FRM
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Corporate Finance Investment Performance Management
Narek Abgaryan
Narek is the CEO of Hundred MS. Before embarking upon this position, he accumulated insightful experience including the positions of CEO, Head of Research and Member of the Board at various licensed and regulated investment companies. Narek is a graduate of Hult International Business School, Armenian State University of Economics and is currently pursuing his education at Saïd Business School of the University of Oxford. Narek is a CFA charter holder and a certified FRM.
linkedin
CFA, FRM
Corporate Finance Investment Performance Management
Our Mission
Our mission is to extend our partner-based, specialized and cost-effective cooperation to our clients to enable them to focus on their long-term strategy and leverage their core competencies around value-creating activities.
Our Mission
Our mission is to extend our partner-based, specialized and cost-effective cooperation to our clients to enable them to focus on their long-term strategy and leverage their core competencies around value-creating activities.
Our Vision
We have a deep conviction that the financial system is the pillar of our civilizations. Economies that are exploding with growth are the ones that adopted modern finance. We aim to reach a reality where access to unconventional finance technics should be within reach of every economic unit. This shall empower everyone to allocate their human and financial capital more purposefully and innovatively for the benefit of a secure, wealthy, and responsible society.
Our Vision
We have a deep conviction that the financial system is the pillar of our civilizations. Economies that are exploding with growth are the ones that adopted modern finance. We aim to reach a reality where access to unconventional finance technics should be within reach of every economic unit. This shall empower everyone to allocate their human and financial capital more purposefully and innovatively for the benefit of a secure, wealthy, and responsible society.
Objectives
In "Hundred MS", we are structuring our goals to revolve around the best interests of our investors and business partners. The basis we build our strategy on is satisfaction of expectations of our Clients, by bringing substantial profits to them through ethical management of investments, assets and portfolios. In the path of achieving the set tasks, we target new financial products adapted to the Client’s needs and offer variety combinations of interdisciplinary innovations. Following our set of values, we see our short-term goal in becoming one of the leading players in the global financial markets.
Objectives
In "Hundred MS", we are structuring our goals to revolve around the best interests of our investors and business partners. The basis we build our strategy on is satisfaction of expectations of our Clients, by bringing substantial profits to them through ethical management of investments, assets and portfolios. In the path of achieving the set tasks, we target new financial products adapted to the Client’s needs and offer variety combinations of interdisciplinary innovations. Following our set of values, we see our short-term goal in becoming one of the leading players in the global financial markets.
Corporate Values
We believe that earning the trust of each Client cements the next layer of the foundation of the Company’s reputation. Financial relations are built on trust; thus, our reputation is the heart of our business. Our allocentric approach to dealing with clients ensures that we always put their interests first. We do our utmost to make sure that our decisions are utterly disconnected from the greed when it comes to rendering our services. Promulgating ethics and adhering to the highest professional standards are the bedrocks of our corporate values.
Corporate Values
We believe that earning the trust of each Client cements the next layer of the foundation of the Company’s reputation. Financial relations are built on trust; thus, our reputation is the heart of our business. Our allocentric approach to dealing with clients ensures that we always put their interests first. We do our utmost to make sure that our decisions are utterly disconnected from the greed when it comes to rendering our services. Promulgating ethics and adhering to the highest professional standards are the bedrocks of our corporate values.
Levon
Levon Garibyan
Levon is the Business Development Director and Strategy Specialist of the company. He acquired international experience of more than 10 years, managing private firms with various business profiles in UK, UAE and Russian Federation. Levon studied in Cranfield University School of Management and Moscow State University of International Affairs (MGIMO).
MSc
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Business Development, Strategy & Fundraising
Levon Garibyan
Levon is the Business Development Director and Strategy Specialist of the company. He acquired international experience of more than 10 years, managing private firms with various business profiles in UK, UAE and Russian Federation. Levon studied in Cranfield University School of Management and Moscow State University of International Affairs (MGIMO).
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MSc
Business Development, Strategy & Fundraising
David
David Tarkhanyan
David is the co-founder of Hundred MS. He is a Banking specialist with a focus on Financial Controlling, Planning, and Performance Management. His experience extends more than 10 years in various investment banks in Vienna and Frankfurt. David studied Physics at Bauman University and Industrial Engineering at the American University of Armenia.
CFA, FRM
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Financial Controlling Investment Banking
David Tarkhanyan
David is the co-founder of Hundred MS. He is a Banking specialist with a focus on Financial Controlling, Planning, and Performance Management. His experience extends more than 10 years in various investment banks in Vienna and Frankfurt. David studied Physics at Bauman University and Industrial Engineering at the American University of Armenia.
linkedin
CFA, FRM
Financial Controlling Investment Banking