Mark Osborne explains why accountants and CFOs do different jobs. Accountants handle bookkeeping and compliance with GAAP rules. CFOs think strategically about the future and guide business decisions.
I think you first have to establish what exactly you need and the role of each one, right? So number one, you've got to have good books no matter what you do. So I would not ever skip on the accounting piece at all. But you have to learn or understand what the role of an accountant is versus what the role of a CFO would be from that perspective, particularly around a small business, right? And so the accountant is fully focused on You know, compliance really matters, right? Making sure that you're GAAP compliant, making sure that things are put in the right place, that your financials are available for you to review, to make sure there's no expenses in the revenue category and vice versa. But the role of a CFO is much more strategic, is forward-looking, and, and they're 2 very different hats.
How Can You Maximize Your Business Value Before Selling? with Randy Katz Video
