There are several benefits to hiring a Certified Public Accountant (CPA) as an outsourced Chief Financial Officer (CFO):
Expertise: A CPA has a high level of expertise in financial management, including accounting, budgeting, financial analysis, and strategic planning. This expertise can be valuable in helping a company make informed financial decisions.
Cost effectiveness: Hiring a CPA as an outsourced CFO can be more cost-effective than hiring a full-time CFO, as it allows a company to access the expertise of a CFO on an as-needed basis.
Flexibility: An outsourced CFO can provide flexibility in terms of the scope of their involvement in a company's financial management. This can be particularly useful for small or growing businesses that may not have the resources to hire a full-time CFO.
Objectivity: An outsourced CFO can provide an objective perspective on a company's financial management, as they are not directly involved in the day-to-day operations of the business. This can be valuable in identifying areas for improvement or areas of risk.
Time management: An outsourced CFO can help a business manage its time more effectively by taking on tasks related to financial management and allowing the business owner to focus on other aspects of the business.
Overall, hiring a CPA as an outsourced CFO can provide a company with access to expert financial management and cost-effective solutions, while also providing flexibility and objectivity.
55 mil
US Citizens
Cannabis Users (FitSmall Business, 2019)
21
States
Fully legal (cfah.org 2022)
24
States
Mixed - CBD or Medicianal (cfah.org 2022)
6
States
Illegal (cfah.org 2022)
WHY USE A CPA CFO?
Question: If the Cannabis Industry is so lucrative, why are so many Industry Companies Losing Money? Your bookkeeper is not an accountant. 90% of cannabis bookkeepers and accountants are doing Cost Accounting and 280e incorrectly.