Lloyd Hughes, CPA
Lloyd has been practicing more than 35 years providing business consulting servicesand specializing in the needs and concerns unique to small business owners and entrepreneurs.
Specialized services provided to clients include:
- Served as CFO and controller for companies in an array of industries on as-needed basis;
- Served as interim CEO for three companies in oil & gas exploration, distribution and service industries;
- Consulted with eight startups – duties included debt and equity sourcing, concept development, business plan development, business presentations to third parties, and contract negotiation;
- Designed and implemented automation of accounting tasks, processes, and reporting systems that save companies hundreds of man hours every month;
- Performed business valuations for acquisitions and divestitures as well as due-diligence on acquisitions;
- Performed an in-depth study and analysis, for a $40 million manufacturing company to implement a new system to:
- revise purchasing processes,
- Create a standard cost accounting system,
- revamped scheduling procedures,
- implemented a system to determine labor times and costs – including variance analysis and periodic maintenance,
- to build a bill of materials, and
- developed procedures to prevent circumvention of required communication;
- Served as interim CFO for Holding Company with forty affiliates, most of which were 50% owned. Engaged to extricate company from severely out-of-control situation as a result of software conversion:
- financial statements were behind, affiliates were losing money and parent had depleted its line-of-credit,
- partners had lost hope,
- Righted the situation,strengthened partners’ resolve, re-structured line-of credit, hired a controller, automated operations and instituted new procedures consistent with the upgraded system,
- Four years later the Company sold for six million dollars with another three million in potential earn-out.
- Support for various types of business, accounting, and financial transactions which included solution identification, report preparation, negotiation and presentation;
- Worked closely with lawyers on multiple litigation issues.
Prior experience included five years with a big four public accounting firm.
Industries served include: wholesale distribution, manufacturing, retail, construction, real estate, oil and gas, professional practices, automotive dealerships, banking, printing, and technology.