CPA | CFO |
---|---|
Independent | Not independent |
Offsite | On site |
Focus on advising business owners on running business | Directs financial goals, objectives, and strategies |
General business management consulting | General business management |
Focus on accounting systems and financial results | Focus on business management, accounting practices, and financial results |
Reviews and recommends changes to policies, systems, and processes | Manage and develop policies, system, and process |
Meets with management monthly, quarterly, or annually | Works side-by-side with management |
Business tax advice, planning, and preparation of tax returns | Tax planning and general knowledge of taxes |
Financial closing of books, including adjusting entries | Financial closing of books, including adjusting entries |
Financial statement preparation, including Accountant’s Report | Generation of internal financial statements |
Compilation, Review, or Audit of financial records | Financial analysis and recommendations |
Budgeting and forecasting | Budgeting and forecasting |
Business plans | Business plans |
Recommends accounting systems. Assists with setting up of books and records. | Implements and maintains accounting systems. |
Advises on risk management | Manage risk |
Assists in raising capital | Executes capital raising strategies |
Reviews legal documents and advises accordingly | Manages legal contracts and activities |
Reviews IT activities and advises accordingly | Manages IT activities |
Advises on environmental issues | Manages environmental issues |
Advises on quality assurance function and makes recommendations | Manages quality assurance function |
Advises and trains accounting staff | Hires, manages, coaches, and trains accounting staff |
Analyzes cash management and makes recommendations | Performs cash management |
Inventory/cost analysis | Inventory/cost management and analysis |
Advises on HR function and makes recommendations | Manages HR function |
Fraud detection. Recommends internal controls. | Implements internal controls to prevent theft |
Advises start-up companies | Helps build infrastructure |
Personal tax advice, planning, and preparation of tax returns | N/A |
Talk to us, we can help — (205) 369-7128
Up-to-date advice for your business finances, live interaction and more.