What's the difference between a CPA, Bookkeeper, and a CFO? Accounting Services Explained

[@javierolivares4678]

Thanks!

[@ClaraCFO]

Thank YOU so much! Hope this helps clear up some questions!

[@user-cm3em2ff2z]

great overview - finding the right mix of competencies and cost to a growing business is the key - is what I would take away. Thank You!

[@TheSharareh1]

Hi Clara, thanks for the great info. By the way, EAs have to study and pass 3 rigorous exams, all regarding TAXATION (for Individuals, Businesses, and Representation in front of the IRS). The material is the same material that CPAs have to study for their exam for “Tax purposes”. EAs can represent anyone from ANY state in front of the IRS. Of course, the CPA exam covers 3 other non-tax related sections as well, which are audit, financials, and business. (CPA is a state-specific credential while EA is a federal one). Also, I think what you explained as CFO's job description is what an ACCOUNTANT does as well. The very first difference between an accountant and a bookkeeper is the level of education. Accountants usually have at least a bachelor's degree specifically in “Accounting” and most of the time a master’s degree in accounting. They review and analyze the data that the bookkeeper has already organized and reconciled. They offer services such as financial statement analysis, budgeting, KPI, forecasting, benchmarking, budget variance analysis, etc. P.S.: I really enjoy your videos!

[@wencircs9270]

Thank you for the video. I was able to re-evaluate my position. You do such a great work of simplifying things so everyone can understand.

[@ClaraCFO]

So glad it helped! Thanks for being here!

[@stoneyj1a1]

Very well explained, sweet and to the point

[@gabrieldiaz8523]

One of the best explanations of our industry, that I’ve heard.

[@ClaraCFO]

Thanks Gabriel!! What do you do?

[@gabrieldiaz8523]

@@ClaraCFO I’m a full-charge bookkeeper, and tax preparer. I typically work with clients who have complicated finances and years of undone tax filings and lack of record keeping. It’s hard to explain to clients the complexity of what’s going through my brain when I am entering transactions (is this schedule C? 1120S? How will I explain this in an audit? Is this depreciable? If so, to which income source? Which depreciation schedule? Did they have personal use? Which publications provide exceptions to the rule? On and on and on.) Clients don’t see that. They see the finished product that looks so easy and simple.

[@ClaraCFO]

@@gabrieldiaz8523 That's important work you are doing!

[@simonegordon3659]

Fabulous review of financial positions. Thank you very much

[@ClaraCFO]

Thanks for the feedback!

[@joelnelson1682]

So good Hannah! Great breakdown on these positions. And yes please.... content around e-commerce (Shopify) sales tax would be amazing! Keep it up!

[@brianmcclemens2802]

Your the Best ! Thanks again for helping me with getting my PPP 1 back in 2020 . Blessed !

[@ClaraCFO]

Glad to help!

[@brianmcclemens2802]

@@ClaraCFO looking forward to my work session tomorrow with Kristi to help with ERC . Highly recommend the Clara CFO Group !

[@vonnettagraves-brooks8874]

Hi Clara, thank you for sharing clear, detailed information. It has been very helpful. ♥️

[@ClaraCFO]

So glad!

[@dcat3510]

This is a very helpful video.. You make some crucial and important points on the distinctions and what is needed.

[@ClaraCFO]

Thanks so much! There's a lot of confusion about these roles, so I'm glad I could clear it up!

[@LRob65]

This was super helpful and from what I could tell pretty spot on. Thanks for the valuable info!

[@ClaraCFO]

Thanks! Glad it was helpful!

[@elianasmith6330]

Another invaluable channel will explore more videos from you, sir. This will help me plan my insurance, thank you!

[@ClaraCFO]

Thanks for being here!

[@AndrewCarlson-s6r]

Thanks Hannah

[@craigswiger8709]

Great advice!!! Thank You!!!

[@jessysixx8700]

I'm so glad I found you. I currently want to start bookkeeping as a business. I have a business degree and I work as an AP SUPERVISOR. What would you suggest classes or certification I take to make sure I know exactly what I am doing as a bookkeeper.

[@dadjbig]

Great video. Thank you

[@ClaraCFO]

Thanks for watching!

[@concessionconcessions1761]

Very informative. Thank you!!!

[@ClaraCFO]

Glad it was helpful!

[@simplyroshie]

Thank you Hanna. I'm watching from Philippines,

[@abosedeolodude3011]

thanks for the explanation

[@TerryCollinsP31Lifestyle]

Thanks for these videos

[@FeastofChamps]

Your videos are the best!

[@germanalvarez745]

Excellent!!! Thanks

[@ClaraCFO]

Glad you liked it!

[@rafiullahjan4262]

Superb!!!

[@ClaraCFO]

Thank you! Cheers!

[@danhernandez6809]

This was a very informative video. Thank you for the information.

[@ClaraCFO]

So glad it helped!

[@darrenc.8663]

Great video! Very helpful. Where would a Controller fit in these categories?

[@jaylenlenear7850]

Very informative. Subscribed

[@ClaraCFO]

Thank you! Welcome aboard!

[@TerryCollinsP31Lifestyle]

Do you have any videos specific to real estate and property management?

[@MasterYourBooks]

Great video! How do you define "fractional" vs full CFO?

[@TerryCollinsP31Lifestyle]

That’s so true. Unless I ask specifically, it doesn’t get applied.

[@samuelhyongsokkim7367]

I LOVE YOU HANNAH! -FROM YOUR SECRET ADMIRER LOL =)

[@heathercraig5183]

This is great!

[@ClaraCFO]

Thanks for watching!

[@roxannavillicana9945]

Great video!! What would you recommend for a small non profit ?

[@ClaraCFO]

Hi Roxanna - I'd start with a bookkeeper to make sure you have your numbers in order!

[@jaylenlenear7850]

Do CFO have to enter into multi year contracts ?

[@ClaraCFO]

No, but some may choose to set their businesses up that way

[@paulcali08]

I accrue a healthy amount of monthly interest from my online high yield savings accounts. I am retired, therefore I have no withholdings. Do I have to make estimated tax payments on the tax owed on this interest on a quarterly basis, or will I avoid penalties if I just wait for my 1099-INT at the end of the tax season? I've searched the IRS site extensively, but find nothing addressing this. Thank you.

[@learnamericanenglishlangua6416]

Hi ...can i import an excel chart into quickbooks?

[@ClaraCFO]

What kind of chart?

[@yuvaldavidi6751]

YOU ARE AMAZING!!! Like Like Like :))

[@ClaraCFO]

Glad this helps! 🙌

[@cemgumus1989]

You are more beautiful than shakira😀

[@ClaraCFO]

Haha!