CFO Outsourcing vs. CPA Services

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Our clients frequently ask this question, “What is the difference between the roles of a CPA and an outsourced-CFO?” Both roles are important, but the role of a CPA and the role of a CFO are vastly different. Typically, a CPA focuses on tax-related issues, while a CFO focuses on long-term financial strategy. For a CFO, this includes budgets, cash flow, forecasting, cost cuts, optimizing systems, raising capital, and acquisitions and mergers. For a CPA, the job description includes record-keeping, bookkeeping, and tax management.

PHB CFO Outsourcing Services

For early-stage ventures and startups, CFO outsourcing provides financial oversight without the risk of hiring a full-time employee. At PHB, our outsourced CFO services provide financial guidance for your business as well as oversight of your accounting systems. Learn more about our CFO outsourcing services by clicking this link.

Why Hire an Outsourced CFO?

Organizations often need the services of a CFO just for a limited time or for a one-time goal. For example, you might need a CFO to:

  • elevate a company’s financial strategy
  • implement advanced forecasts or systems
  • help overcome a financial challenge
  • get through an audit
  • raise capital
  • prepare for an IPO

In cases like these, it is much easier and less expensive to hire an outsourced CFO.

Call PHB

If you are considering hiring a CFO, or if you have a one-time event that you need help with, give us a call. We will be happy to explore the capabilities and the cost of our CFO services with you. And remember, we can also integrate CPA services with our CFO services to provide cohesive financial administration.

Advantages of Outsourced CFOs

If you are reluctant to hire a temporary CFO, think about the advantages. Because of their expansive experience with a variety of companies, outsourced CFOs can usually make better strategic decisions than an in-house CFO. Additionally, they are more objective. Outsourced CFOs have no biases or special interests and therefore, can make decisions based on data and experience.