Posted by : Daniel Stoica in (Articles, Business Tips) On: October 12th, 2011
Tagged Under : accountant, accounting professional, bookkeeper, CEO, CFO, chief financial officer, controller, CPA, Daniel Stoica, financial planning, payables, receivables, tax professional
Maintaining a small business accounting system can be daunting for small business owners. Meticulous records must be kept at all times, which is a task that many businesses owners lack knowledge or experience in.
Most business owners like to keep their records themselves, but without the proper training in accounting, it could end up hurting their business; that’s why hiring a professional will save money in the long run.
There are four types of professionals that can help a small business owner with their accounting needs.
A bookkeeper is a professional who takes care of everyday accounting. These professionals handle the daily accounts payable and accounts receivable, as well as manage the general ledger and prepare tax records.
A Certified Public Accountant, or CPA, has a certification in accounting and can handle daily bookkeeping along with more complicated tax issues. CPAs generally take financial information about the company they work for and give advice on financial planning and steps to help the business grow financially.
A controller is the auditor and general accountant, usually in larger corporations, who is responsible for the accounting activities of the company. They are often authorized to make decisions about the company’s finances and investments.
Chief Financial Officer
A chief financial officer, or CFO, is an executive in a large corporation who manages every aspect of the corporation’s finances. They oversee financial planning and report company finances to the CEO and president of the corporation.