McAllen CPAs and Virtual Chief Financial Officers: What’s the Difference?
As any financial professional will tell you, wise financial decisions are not only crucial to a company’s ability to survive but to thrive as well! However, it’s important to understand what the different types of financial advisers are so that you can make the best choice for your company.
Abigail Y. Murray, CPA, LLC, in the Rio Grande Valley has years of financial advisory experience, and we want to explain how certified public accountants and vCFOs differ. We also hope you will consider working with us!
CPAs and vCFOs: How They Differ From One Another
Though both process information to provide businesses with helpful financial analyses and insights, there are a few key ways in which CPAs and cVFOs differ.
Generally, the primary duties of a CPA primary are to prepare a business’ tax returns as well as offer financial opinions on topics such as tax law. On the other hand, a vCFO’s responsibilities are more extensive than that of CPAs as they handle long-term financial forecasting for a business.
Additionally, a vCFO may be able to bring strategies and knowledge a CPA isn’t equipped to understand all while not being a full-time employee.
Here’s a breakdown of the duties of each:
- handles tax preparation and transaction report analysis
- performs routine audits
- manages, organizes, and updates financial documents
- improve profitability/productivity while analyzing sustainability
- analyze financial risks, forecast, and enact financial strategies
- act as shareholder liaison and maintain strong, external relationships
As you can see, McAllen CPAs and vCFOs both address financial needs, but the specifics of what they do vary.
Abigail Y. Murray, CPA, LLC, in the Rio Grande Valley – Let’s Grow Together!
Whether or not a company enlists the help of a certified public accountant or vCFO, ultimately comes down to what type of support it needs. The team at Abigail Y. Murray, CPA, LLC, has what it takes to take care of whatever financial reporting your business needs!
Whether it be certified public accountants or virtual chief financial officers in McAllen, Abigail Y. Murray, CPA, LLC, in the Rio Grande Valley has the skills and experience to handle whatever your company may need – contact us today!
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