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

Рет қаралды 7,063

3 жыл бұрын

There’s a lot of confusion in the business world about accounting services and what accountants ACTUALLY do. So this video is all about helping break down what a bookkeeper vs EA vs CPA vs CFO actually does, so that you can be more confident about WHO you need in your organization to help you succeed financially.
We cover Bookkeepers, Full Charge Bookkeepers, tax preparers, Enrolled Agents (EAs), CPAs, and CFOs in this video. What are they....and who do YOU need?
Note: I am hard on my industry sometimes.....but I love you all! ❤️❤️❤️
Number nerds have to stick together...but sometimes we need to be teased 😜
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Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at claracfo.com/
Disclaimer: This video is intended for educational purposes and
should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.

Пікірлер: 62

@stoneyj1a1 Ай бұрын

Very well explained, sweet and to the point

@craigswiger8709 3 ай бұрын

Great advice!!! Thank You!!!

@FeastofChamps 6 ай бұрын

Your videos are the best!

@joelnelson1682 3 жыл бұрын

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

@TheSharareh1 Жыл бұрын

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 2 жыл бұрын

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 2 жыл бұрын

So glad it helped! Thanks for being here!

@LRob65 Жыл бұрын

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

@ClaraCFO Жыл бұрын

Thanks! Glad it was helpful!

@TerryCollinsP31Lifestyle 5 ай бұрын

Thanks for these videos

@concessionconcessions1761 2 жыл бұрын

Very informative. Thank you!!!

@ClaraCFO 2 жыл бұрын

Glad it was helpful!

@dcat3510 Жыл бұрын

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

@ClaraCFO Жыл бұрын

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

@simonegordon3659 Жыл бұрын

Fabulous review of financial positions. Thank you very much

@ClaraCFO Жыл бұрын

Thanks for the feedback!

@danhernandez6809 3 жыл бұрын

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

@ClaraCFO 3 жыл бұрын

So glad it helped!

@javierolivares4678 Жыл бұрын

Thanks!

@ClaraCFO Жыл бұрын

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

@abosedeolodude3011 8 ай бұрын

thanks for the explanation

@elianasmith6330 2 ай бұрын

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

@ClaraCFO 2 ай бұрын

Thanks for being here!

@vonnettagraves-brooks8874 7 ай бұрын

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

@ClaraCFO 7 ай бұрын

So glad!

@simplyroshie 6 ай бұрын

Thank you Hanna. I'm watching from Philippines,

@brianmcclemens2802 Жыл бұрын

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

@ClaraCFO Жыл бұрын

Glad to help!

@brianmcclemens2802 Жыл бұрын

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

@germanalvarez745 3 жыл бұрын

Excellent!!! Thanks

@ClaraCFO 3 жыл бұрын

Glad you liked it!

@heathercraig5183 3 жыл бұрын

This is great!

@ClaraCFO 3 жыл бұрын

Thanks for watching!

@gabrieldiaz8523 2 жыл бұрын

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

@ClaraCFO 2 жыл бұрын

Thanks Gabriel!! What do you do?

@gabrieldiaz8523 2 жыл бұрын

@@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 2 жыл бұрын

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

@dadjbig Жыл бұрын

Great video. Thank you

@ClaraCFO Жыл бұрын

Thanks for watching!

@user-ku7hp5dm3y Жыл бұрын

Thanks Hannah

@samuelhyongsokkim7367 Жыл бұрын

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

@darrenc.8663 Жыл бұрын

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

@jaylenlenear7850 2 жыл бұрын

Very informative. Subscribed

@ClaraCFO 2 жыл бұрын

Thank you! Welcome aboard!

@MasterYourBooks Жыл бұрын

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

@rafiullahjan4262 Жыл бұрын

Superb!!!

@ClaraCFO Жыл бұрын

Thank you! Cheers!

@jessysixx8700 2 ай бұрын

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.

@TerryCollinsP31Lifestyle 5 ай бұрын

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

@roxannavillicana9945 Жыл бұрын

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

@ClaraCFO Жыл бұрын

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

@TerryCollinsP31Lifestyle 5 ай бұрын

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

@yuvaldavidi6751 3 жыл бұрын

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

@ClaraCFO 3 жыл бұрын

Glad this helps! 🙌

@paulcali08 Жыл бұрын

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.