There are two types of financial leadership roles in a business – Financial Controller and CFO. Both Financial Controllers and CFOs usually come from an accounting background and start off as accountants. They are not the same and neither of these is the same role as an Accountant.
Whilst some companies engage only one of them, others combine the two. The roles are different and if your business has any significant size to it and is planning to grow, it is likely you will need both.
Let’s look at what the differences are between the two...
|Virtual CFO||Financial Controller|
|Analysis and Solutions||Accurate Reporting|
|Financing and Forecasting||Accounting and Reporting|
|Critical Key Indicators||Standard Formats|
|New Views||Existing status|
|Planning and Implementation||Budgeting|
|Big picture future vision||Reporting here and now|
|Functional focus||Financial focus|
|Transactions & Strategy||Implementation|
- Ensure rigorous and financial control over your accounting function
- Engagement of a highly trained trusted advisor
- Access to wider resources of the firm
Have you noticed our #FridayExpertTips... here's one that relates to #COVID-19: Business Planning
"As a SMALL BUSINESS you might be missing the strategic advantage that comes with having a CFO. An experienced part-time Virtual CFO could be solution that helps accelerate your financial growth and business success."