Jim Hoggatt

Providing CFO services and Business Transition Services in Kansas City, MO and surrounding areas

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About Jim

Jim Hoggatt

Phoenix, AZ CFO

38 Years of Experience

Direct Contact

jimhoggatt@b2bcfo.com

Cell: 602-369-2108

Phoenix Office: 480-447-2204

Kansas City Office: (816) 945-8337

Universities:

Abilene Christian University, Texas. BSBA in Accounting.

Certificates & Licenses:

CPA, State of Arizona

Organizations:

American Institute of Certified Public

Accountants | The Financial Executives Networking Group (FENG)

Contact Jim Hoggatt 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™







Jim’s Bio

Jim brings more than 30 years of diverse financial and operational experience; from large public companies to closely-held small and medium size entities where he served as CFO, CEO, Vice-President or consultant.

Click here for more information and videos.

His background includes:

  • Audit Manager with PriceWaterhouseCoopers (PwC), one of the Big Four public accounting firms. In his seven years as an auditor, he specialized in construction, real estate, engineering, mining, high tech manufacturing, and small business services.
  • VP and CFO for Apollo Group (parent company of the University of Phoenix, WIU and IPD, an educational consulting subsidiary). In his 12 years at Apollo, Jim was a key part of the executive team which grew the company from 10 locations to over 55 locations. Jim led the team that took Apollo public through a highly successful IPO in 1994, and raised addition capital through subsequent secondary offerings.
  • Owner and CEO of a real estate development and construction company from 1998-2005, and owner and CEO of a small publishing/internet commerce company from 2004-2011.
  • Interim CFO and CFO, VP-Finance and Information Technologies for two medium size organizations from 2012-2013.

Case Study

During 2013, Jim served as the CFO, VP-Finance and IT for an organization that is headquartered in Phoenix, and has six regional offices throughout Arizona. During that year, he negotiated the refinancing of the company's $2.5 million tax-free bond, secured an additional $2 million in lease line commitments in addition to the Company's line of credit, successfully implemented a document management system for the corporate accounts payable department, and successfully implemented an organization-wide cloud-based expense and mileage reimbursement system. Under Jim's leadership, significant improvements were made to the accuracy and timeliness of interim and year-end financial reports, substantial collections were made on long past-due accounts receivable, and the annual audit was completed in record time with no audit exceptions. Significant improvements were also made in the areas of risk management, training, forecasting, cash flow management and budgeting.

Small Business Credentials

In recent years, Jim has worked for small and medium size entities to help them improve cash flow and operating income, restructure their operations, and re-engineer key processes. Jim has helped these organizations refinance long-term debt, establish leasing and business lines of credit, implement process improvements, implement new operational and accounting software, improve timing and accuracy of month-end end and year-end closings, and to improve relationship with boards, audit committees, external auditors, bankers and other key stakeholders. Jim is highly experienced with accounting and internal controls in diverse and complex regulatory environments.

Individual Assets

Jim has a passion for integrity, process improvement, customer service and teamwork. He has worked as the CFO for a publicly-held company that was, at the time, on Fortune's List of the 100 Fastest Growing Companies. He has helped many small, medium and large companies as an audit manager for PwC. Jim also has worked in leadership roles in the startup, operations, marketing, product development and sales for two small Arizona-based businesses where he served as owner and CEO. Jim is a CPA in the State of Arizona, and a member of the American Institute of Certified Public Accountants.

Jim's experience with accounting software ranges from large ERP systems (e.g. Microsoft Dynamics GP and Oracle Financials) to small business software such as QuickBooks Pro, QuickBooks Online, Paychex Payroll and Intuit Payroll. Jim has expertise with Microsoft Office (e.g. Access, Excel, PowerPoint, Outlook), Microsoft Share Point collaboration software, Microsoft Forecaster, Web Design, Ecommerce Software (e.g. Volusion, Amazon Webstore and FBA), Citrix Tools (e.g. GoToMeeting, Citrix Receiver), and Cisco WebEx.

Personal and Life Information

Jim has lived in the Phoenix area almost his entire life. Jim and his wife of more than 30 years, Sue, are active in their church and community. Jim has held positions of leadership at his church and served in the past as board member, Trustee and Treasurer for various not-for-profits. Their daughter, Lindsay, lives with her husband in Kansas City, MO where she gives voice lessons and performs in various operas and theatre performances. Lindsay has a music degree from Harding University and a Masters in Music in Vocal Performance from the University of Missouri-Kansas City. Their son, Darren, lives here in Phoenix with his wife, Heidi, where he works as an accountant for a healthcare equipment manufacturer. Darren has an accounting degree from Harding University and an MBA from the University of Phoenix.

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Recent Articles

Jul 2Jim Hoggatt

Managing Cash Flow Complexities – Part 5: Cash vs EBITDA

Jul 2Jim Hoggatt

At a recent risk management seminar, one of the participants spoke about how their controller received an email from the CEO of their company asking him to wire transfer some funds for that day.  What the controller didn’t know is that someone had hacked into the company’s email system, and had been monitoring the style and timing of the CEO’s emails. The hacker then sent an email from the CEO’s mail account to the controller requesting the wire transfer.  Fortunately the controller, suspecting that

May 21Jim Hoggatt

Managing Cash Flow Complexities – Part 4: Transition Planning

May 21Jim Hoggatt

Transition Planning. In high school, my brother and I would go down to the ASU campus late at night to play racquetball at the three-wall outdoor courts (these courts have been gone for years).  We played from 10pm until about 2 or 3am in the morning, mainly to escape the summer’s heat… and also because it was easy to get a court without waiting long (no one else in their right mind would play racquetball until 3 in the morning).  When

May 3Jim Hoggatt

Managing Cash Flow Complexities – Part 3: Establishing Priorities

May 3Jim Hoggatt

Establishing priorities is critical to just about every facet of our lives.  I have a good friend who gained a lot of wealth by speculating in commodities futures.  Over many years he built up a lot of cash flow, but then in a short series of bad trades he lost just about everything in his life, including his wife, his fortune and his health.  There is a famous quote that says: “It is worth nothing for a person to have the whole

Apr 15Jim Hoggatt

Managing Cash Flow Complexities – Part 2: More than just Math

Apr 15Jim Hoggatt

Many times CEOs and business owners have concerns or anxieties over future cash flows.  They have usually seen the rough times when cash levels were so low, they weren’t quite sure how they were going to make payroll.  Or, they’ve been hit with an unexpected cash flow surprise that they weren’t counting on… making it difficult to pay vendors timely. In one sense, the cash flow projection is just a simple mathematical formula.  In a balance sheet, total assets (A)

Apr 4Jim Hoggatt

Managing Cash Flow Complexities – Part 1: How Much Cash?

Apr 4Jim Hoggatt

Recently I had a conversation with a business owner about the amount of cash that a small business should keep on hand.  The business owner had been told by a couple of reputable sources that the amount should be 2-3 times their monthly operating expenses, and he had also heard that this amount should be as high as six times their monthly operating expenses. The problem with simple answers like this is that they don’t address a very complex question.  Each business is

Dec 11Jim Hoggatt

Sam and the box of socks

Dec 11Jim Hoggatt

A few years ago, I met a 9 year old who is part of our church family.  His name is Sam.  Sam’s parents at one time had been in financial trouble and were homeless for a short period of time.  So Sam decided that each Christmas he would collect new tube socks for homeless people.  At first I wondered… “why socks”… but Sam explained that when you are cold and on the street, that a good pair of socks to keep

Sep 28Jim Hoggatt

Closing the Barn Door…

Sep 28Jim Hoggatt

There is an old English idiom that says “Don’t bother closing the barn door after the horse has bolted.”  How many times have we thought about this after it’s too late? One essential component to an organization’s internal controls is a entity-wide cyber security policy.  Although the policy itself is essential, often there is a wide gap between the policy and reality.  When is the last time you updated your policy to reflect current changes in technology?  How often do you have

Jun 12Jim Hoggatt

What in the World is T.E.E.M.M?

Jun 12Jim Hoggatt

If you are a business owner, at some point in your life you will probably want to start thinking about this acronym –  T.E.E.M.M. (pronounced “team”).  Why?  Because at some point you may want (or need) to exit your business…either through a sale, the formation of an ESOP, passing it to your descendants, or by other means. There are several key concepts to think about years before you consider a sale or other exit from your business: T – Timing In the book “The Exit Strategy Handbook” by

Jun 7Jim Hoggatt

Increasing the Value of Your Business

Jun 7Jim Hoggatt

In this video, Jim Hoggatt, Parter at B2B CFO® discusses ideas on how to improve the value of your business… Improving the value of your business involves some fairly simple concepts, coupled with a lot of hard work directed toward the right goals.

May 29Jim Hoggatt

New Revenue Recognition Accounting Standards Released on May 28, 2014

May 29Jim Hoggatt

Yesterday, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) released a new standard that gives guidance on the recognition of revenue.  This effort by the FASB and IASB is one more step in bringing the U.S. financial accounting standards more closely aligned with International Accounting Standards.  As the two standard become more closely aligned it will make it easier for the reader to compare financial statements of U.S. domestic corporations with foreign and international corporations. If you

May 27Jim Hoggatt

Significant Penalties to be Imposed for Dumping Employees on to the Health Care Exchange

May 27Jim Hoggatt

In an article that appeared this past Sunday in the New York Times, there is a May 2014 IRS ruling that “blocks any move by employers to dump employees into the (healthcare marketplace) exchanges.” According to the article, “many employers had thought they could shift health costs to the government by sending their employees to a health insurance exchange with a tax-free contribution of cash to help pay premiums, but the Obama administration has squelched the idea in a new ruling.” Some

Mar 24Jim Hoggatt

Paying Attention in the Drive-Thru

Mar 24Jim Hoggatt

Several years ago while vacationing in Anaheim with my wife and two children, I pulled the rental van into the fast food drive-thru lane and, hurriedly, began ordering the usual.  After a few minutes ordering sandwiches, fries and drinks… I heard a faint voice from a distance saying “Sir, I can’t hear you.”  So…still a bit distracted and hurried, I repeated my order.  Again from a distance I heard a voice…now a little louder…saying: “Sir, I still can’t hear you.” I was

Mar 10Jim Hoggatt

Using Data Privacy as a Competitive Advantage

Mar 10Jim Hoggatt

With the current news about data breaches at high profile companies, many companies are using their data security as a competitive advantage. In a recent article in the Journal of Accountancy, the senior editor reports: Data privacy doesn’t have to be an issue that keeps executives awake at night.  Companies can build trust if they give consumers this information on how their data are being used. Some companies even give customers the opportunity to decide which information about them can be shared. The

Feb 24Jim Hoggatt

COSO | Internal Controls | It’s a Miracle!

Feb 24Jim Hoggatt

Growing up in the Phoenix area, there was a used auto dealership called “Miracle Auto.” At one point their advertising slogan was “If it’s a good car, it’s a miracle!” What does this mean? Were they trying to communicate that all of their cars were good…or was it truly a miracle if the car you bought from them was a good car? Many types of businesses develop a bad reputation due to either a lack of integrity, or a perceived

Feb 17Jim Hoggatt

Peeling a Banana

Feb 17Jim Hoggatt

Let’s take a vote. How many of you…when you peel a banana, grab the stem first? Did you know that for some bananas it is much easier to open the banana from the other end? Just take and squeeze the end and it will open quickly. Many times in trying to solve complex business issues, the problem is not a lack of effort…but instead we may be trying to open the wrong end of the banana. There is a tendency for us

Feb 3Jim Hoggatt

Health Insurance Tax Credit for Small Employers – Take a look in 2014

Feb 3Jim Hoggatt

If you have a business or a 501(c)(3) not-for-profit with fewer than 25 full-time equivalent employees, you may want to take a closer look at the Small Employer Health Insurance Tax Credit. In past years, the maximum credit was 35% of the employer’s contribution toward the employees’ health insurance premiums.  If you had tried to calculate the credit in the past, you may know it is a complex calculation and in the end, may have not been worth the trouble. However,

Jan 27Jim Hoggatt

Growth Returns to the Agenda, according to EY Study

Jan 27Jim Hoggatt

In EY’s recently released CFO Capital Confidence Barometer, the sentiment among the CFOs and other Executives interviewed is that growth has returned to the agenda.  Some highlights include: “For the first time in two years, a majority of CFOs report that their organizations are concentrating on growing. Key findings show 55% say that their companies are focused on growth 35% say that maintaining stability is their primary focus 60% feel that the global economy is improving 43% feel that employment

Jan 24Jim Hoggatt

CEO’s “Good to Grow” According to Recent Survey

Jan 24Jim Hoggatt

I just received a copy of PwC’s 17th Annual Global CEO Survey, 2014.  Here are some of the highlights from that survey: “Confidence is improving. That more business leaders are shifting to a growth mode is unmistakable: 62% expect to hire more people this year. It is the highest level of anticipated headcount expansion in the past five years for US CEOs in PwC’s annual Global CEO Survey. Confidence may well be buoyed as much by an improving global economy as