A short YouTube video by "Fractional CFO GPT" outlining minimum components that should be included in a fractional or virtual CFO scope of work. The speaker (an experienced practitioner) emphasizes at least (1) a CFO financial review—high-level P&L trend analysis and balance-sheet/statement-of-cash-flows review as needed—and (2) cash-flow forecasting (recommended even if the engagement is bookkeeping/accounting).
If you're throwing the CFO fractional CFO virtual CFO label on your stuff, I do think there's some minimum things that you've got to include. This is just doing it for seven years. I don't think you can do it less than this or you can include less. Here's the kind of core components that you've got to include in your scope. First you got to have a CFO report where you're evaluating the financials. So you're looking at high level P and L. What are the trends? What are the big hitters that are driving profitability up or down. You got to look at the balance sheets depending on the client and the complexity. You might have to look at the statement of cash flow. So thing one is reviewing the financials. Thing two, you got to have cash flow forecasting. If you're just doing bookkeeping and accounting, throw the cash flow forecasting in there. You've already got all the tools to do it.
