A CFO Is not your tax accountant

Many organisations come to me for help to understand their financial position. Some have become disgruntled with their tax accountant, because they don’t feel they are getting the information about their numbers from them that they need. Others simply do not have the knowledge to know how to ask the right questions in the first place.

In most cases, the tax accountants job is to deliver services like BAS and Income Tax Lodgement, Tax Planning and Entity set ups and trading structures. This is their expertise and what they have been trained their whole career. To process historical data.

Looking forward and future planning are generally only done by bigger firms with more time and resource. Budgeting and forecasting are usually only done for a client to obtain bank finance and the document then sits in an excel file never to be seen again.

Strategic Business and financial planning to help businesses grow and improve is a different skill set and takes focus and time.

This is why you may be struggling to get timely financial and strategic information and advice from your tax accountant, because it simply isn’t their job and they may be overloaded with the compliance work in their firm.

An outsourced CFO can work alongside you and your external accountant and deliver you the best business financial advice, just like big business does, without the full time finance team price.