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Topic: Faqs

Does My Business Need a Part Time CFO?

Welcome to Part 4 of our “Does my business need…” series, where we break through financial gobbledigook to help you figure out your business’s needs. Jargon out, simplicity in.

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Does My Business Need a Financial Analyst?

You've made it to Part 3 of our “Does my business need…” series, where we break through financial gobbledigook to help you figure out your business’s needs. Jargon out, simplicity in.

Missed the other articles? Check them out here: 
Does my business need a bookkeeper?
Does my business need an accountant?
Does my business need a part-time CFO?

What does a financial analyst do?

The role of a financial analyst is to help steer the company down the most profitable path. To accomplish this, an analyst craft budgets and forecasts that set the financial targets for the given period of time (yearly, quarterly, monthly). In addition, analysts assist management in making investment decisions by performing analysis based on return on investment (ROI), net present value (NPV), and discounted cash flows (DCF), or other methods.

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Does My Business Need an Accountant?

Welcome to Part 2 of our “Does my business need…” series, where we break through financial gobbledigook to help you figure out your business’s needs. Jargon out, simplicity in.

Other articles in the series:
Does my business need a bookkeeper?
Does my business need a financial analyst? 
Does my business need a part-time CFO?

What does an accountant do?

An accountant digests and presents the information that a bookkeeper enters into the accounting system. Their role is less transactional than a bookkeeper’s and more interpretive. Accountants help management make business decisions; they compile financial statements like income statements, balance sheets, and cash flows; assist with tax returns; and enter more complex journal entries (deferred revenue, accrued expenses, etc). While a bookkeeper generates data, an accountant helps you understand and turn that data into action.

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Does My Business Need a Bookkeeper?

Welcome to Part 1 of our “Does My Business Need…” series, where we break through financial gobbledigook to help you figure out your business’s needs. Jargon out, simplicity in.

Other articles in the series:
Does my business need an accountant?
Does my business need a financial analyst?
Does my business need a part-time CFO?

What does a bookkeeper do?

The role of a bookkeeper is to enter, categorize, review, and reconcile transactions in a company's accounting system. Having sales and expense data properly categorized enables business owners to see where they are spending and making money.

Historically, a bookkeeper would receive a list of entries or transactions in the form of receipts, emails, bank statements, credit card statements, invoices, loan documents, etc. and assign them to different accounts based on the type of transaction. While this is still common practice, it doesn’t have to be.

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