Not all accountants are the same, just like not all doctors are the same. A great GP would not make a great surgeon, similarly a great Tax Accountant does not make a great CFO; same field different expertise.
CFO’s specialise in BUSINESS FINANCIAL MANAGEMENT AND PERFORMANCE; working inside your business to provide budgeting, forecasting, profit & cash flow monitoring and analysis, balance sheet management and strategic business planning, as well as internal compliance, management reporting, risk identification, KPI tracking and assisting with stakeholder management.
Tax Accountant’s specialise in COMPLIANCE AND PLANNING, including tax planning & advice, legal structure advice, external compliance and reporting requirements, (such as Tax Returns and Annual reporting to regulatory agencies such as ASIC, Consumer Affairs and/or ACNC).
Financial Planner’s specialise in INVESTMENT ADVICE & PLANNING, such as providing investment strategy advice to help you choose how to best achieve you financial objectives over the long term.
Each type of accountant plays an important role for the different needs of your business and can make significant differences when they are engaged at the right time and for the right reasons.