Comments on: Is your CFO a bookkeeper or a strategist? https://berkonomics.com/?p=4638&utm_source=rss&utm_medium=rss&utm_campaign=is-your-cfo-a-bookkeeper-or-a-strategist Dave Berkus' business insights Tue, 06 Jul 2021 20:56:58 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Gene Siciliano https://berkonomics.com/?p=4638&cpage=1#comment-148663 Tue, 06 Jul 2021 20:56:58 +0000 https://berkonomics.com/?p=4638#comment-148663 Hear, hear!! Truly words of wisdom from a seasoned investor/entrepreneur, gratefully acknowledged by the founder (and still president) of the first “rental CFO” or “fractional CFO” as they’re known today, in California, if not in the country.
Solid advice, Dave. And of course I’ll circulate your post widely. Have a great day.

]]> By: Dave Berkus https://berkonomics.com/?p=4638&cpage=1#comment-148655 Tue, 06 Jul 2021 18:45:50 +0000 https://berkonomics.com/?p=4638#comment-148655 In reply to Alan Bernstein.

Alan,
Accountant should set up the books in GAAP format (I assume you are using QuickBooks) and do taxes. Bookkeeper is fine for operating tasks. CFO is needed for planning (such as forecasts and budgets) and controls over large expenditures. But most of all, a good CFO is a co-strategist with CEO and a valuable part of the “C” suite. When to hire? It would be good to interview rental CFO companies or individuals for part time guidance right before a major capital raise and then as a regular contributor after funding. Hope this helps.
-Dave

]]> By: Alan Bernstein https://berkonomics.com/?p=4638&cpage=1#comment-148651 Tue, 06 Jul 2021 18:26:02 +0000 https://berkonomics.com/?p=4638#comment-148651 Dave, what’s the right time to upgrade to a CFO from a bookkeeper and accountant in a startup? Any guidelines? Thanks.

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