Principal
2009 - PRESENTScott Hoover, CPA- Provided outsourced CFO services primarily for project-based companies in the manufacturing, construction, retail, and professional services space.
- Provided clients with accurate month-end financials as well as breakout reporting by project, division, and/or location.
- Assisted in the design and implementation of Vista by Viewpoint ERP software for a mid-sized design/build construction contractor.
- Aided in the design and implementation of ECi M1 ERP software for a small manufacturing company.
- Helped lead the implementation of Microsoft Dynamics NAV for a mid-sized manufacturing company.
- Provided a financial perspective and analysis on three buyouts of small to mid-sized manufacturing and construction companies.
- Streamlined the chart of accounts and set up the work-in-process accounting for a $10 million furniture manufacturer/retailer, providing them with their most accurate financials since the inception of the company.
- Assisted a startup in the industrial packaging space with reviewing operating agreements and partner loan documents.
- Developed custom financial statements in Xero for a client in the consulting/eCommerce analytics space.
- Assisted management with cost-cutting and other turnaround measures at a financially troubled manufacturing company with $7 million in revenues.
- Built out the chart of accounts in Wave accounting software for a technology company with five revenue streams.
Focus areas: Controller, CFO, Business Taxation, Accounting Systems, Charts, Accounting, Corporate FinanceStaff Accountant | Senior Accountant
2003 - 2009Wipfli- Reviewed and prepared financial statements for clients up to $250 million in revenues.
- Prepared income tax returns for C corps, S corps, partnerships, and LLCs.
- Assisted with year-end corporate tax planning by analyzing accelerated depreciation options and impact of executive bonuses on taxable income.
- Built a detailed financial projection for a startup in the wind-energy space.
- Provided SOX compliance services for a major publicly traded US corporation.
- Prepared income tax projections and personal income tax returns for business owners and professionals.
Focus areas: Financial Reporting, Tax Preparation
Finance Expert in Stratford, WI, United States
Member since October 31, 2018
Scott is a CPA who brings financial clarity to clients, from small firms using QuickBooks to larger companies on platforms like Dynamics or Viewpoint. An entrepreneur at heart, he became a freelance CFO nine years ago and has assisted clients in a wide range of industries. He has three focus areas: high-level monthly financial oversight, accounting software projects (setup, cleanup, migration, and chart of accounts), and corporate tax planning.
Scott is now available for hire
Career Highlights
- Scott Hoover, CPA
- Wipfli
Education
- University of Wisconsin-Madison
- University of Wisconsin-Marshfield
Select Certifications
- State of Wisconsin
Industry Expertise
- Agriculture
- Business Services
- Accounting Services
- Construction
- Finance
- Manufacturing
- Retail
- Financial Modeling
Other Expertise
- Accounting Systems
- Business Taxation
- Certified Public Accountant (CPA)
- CFO
- Chart of Accounts
- Manufacturing
- Taxation
Employment
Other Experience
- Accounting Best Practices Ignored: 10 Ways Entrepreneurs Waste Money on Accounting and Stifle Growth (Publication)In this article, Toptal Finance Expert Scott Hoover runs through a useful list of the top ten most common mistakes he encounters with respect to the accounting practice in small businesses. By avoiding these mistakes, entrepreneurs can ensure they stop wasting money and stifling the growth prospects of their company.
- C Corp vs. S Corp, Partnership, Proprietorship, and LLC: What Is the Best Business Entity? (Publication)Choosing between the different business entity options is one of the most common questions (and frustrations) entrepreneurs face. In this article, Toptal Finance Expert Scott Hoover lays out a useful guide to help entrepreneurs think through the menu of options they face.
- Goodbye, Overdue Receivables (Publication)Overdue receivables are one of the most common and serious frustrations entrepreneurs face. The hidden costs can be staggering, from lost time dealing with the problem to the cost of hiring dedicated experts, to the serious and long term damage to a business’ reputation with its clients. In this guide, we provide six steps all businesses should take to avoid the headache of overdue receivables.
- The Street Guide on How to Hire a Part-time CFO (Publication)When does it make sense for a business to consider hiring a part-time CFO? Are there situations in which it doesn't make sense at all? What attributes and criteria should businesses use to filter and select candidates? This article by Toptal Finance Expert Scott Hoover looks at answers to all three questions, and is intended to be a practical guide based on nearly a decade of experience as a freelance CFO for privately held companies.
- Financial Clarity at Last: How to Reboot Your Chart of Accounts Structure in 7 Steps (Publication)It is quite common for financial reports to fall short of executives' expectations. Accounting teams tend to focus on doing things the "right way" rather than asking readers of the financial statements what they want to see. In this article, Toptal Finance Expert Scott Hoover runs through an often overlooked way of solving this situation: the chart of accounts. A well-structured chart of accounts is often the single best and most effective way to raise the financial reporting of an organization to the next level.
Education
- Bachelor's Degree in Accounting and Real Estate Finance2001 - 2003University of Wisconsin-Madison - Madison, WI, USA
- Associate's Degree in Business1999 - 2001University of Wisconsin-Marshfield - Marshfield, WI, USA
Certifications
- Certified Public Accountant (CPA)MAY 2005 - PRESENTState of Wisconsin
