I’m frequently asked this question, here’s my take on it.
Whilst Chief Financial Officers (CFO’s) and accountants may overlap in some of their skills, especially in smaller businesses, they generally spend their time on different tasks. Both roles are essential to a company’s success, complementing each other with expert eyes on both the past and the future.
An accountant manages the company’s transactions, books and records.
A CFO manages the company’s future financial success.
An accountant is largely reactive because they advise the company on what has already happened.
A CFO is largely proactive because they advise the company on what needs to happen.
An accountant takes care of the collection, recording, analysis and presentation of financials to the company.
A CFO takes care of the planning, budgeting, maximising company returns and limiting risk to the company.
An accountant has a compliance approach to their business.
A CFO has a commercial approach to theirs.
An accountant plans and delivers tax savings for the company.
A CFO plans and delivers opportunities to maximise profits and cash for the company.
As a virtual, part-time CFO I do not compete with your accounting staff. I harness their experience to support your company’s growth and performance.
I provide an external perspective and opinion, from an unbiased position backed by my knowledge and industry experience.
With flexible packages to suit your business needs, you can tap into expertise as and when you need it, providing industry experience and knowledge to support your business to grow and prosper.
Are you ready to tap into CFO support? Contact me to find out more about our services and packages to suit your business.
* Accounting services are also available as a bolt-on to CFO support.