Many people get confused about the difference between a CPA and a CFO. The two roles are very different, but they are not mutually exclusive.
You don't need to be a Certified Public Accountant (CPA) to be a good Virtual CFO, nor do all CPAs / accounting firms perform CFO-related services.
The primary job of your accountant is to help you with your books and advise and prepare your tax returns.
A CFO on the other hand, will not get involved with tax; they will spend their time on financial planning and analysis as we discussed before.
When looking for a Virtual CFO, it is helpful to have someone that could help you with the accounting and tax work, but it isn't nearly required. We have some clients that we only serve in the capacity of a Virtual CFO and advisor, while others that we perform accounting and tax as well.
During the interview process, make sure that the person claiming to be a Virtual CFO actually has experience in the field. Unlike the CPA designation, anyone can call themselves a "Virtual CFO". Often times we see, bookkeepers, calling themselves Virtual CFOs without actually having the necessary underlying experience to perform those tasks.
To learn more about Oberladner & Co Virtual CFO services, checkout our dedicated page here.