How to Become an Outsourced/Virtual CFO

notepad with word "hire" crossed out and "outsource" written in underneathAnd how CAS drives up the demand.

By Hitendra Patil
Accountaneur: The Entrepreneurial Accountant

Tom, a CPA, has always been a curious person. For over 15 years, his tax practice was doing well. During the tax season, he had no time to think. But, oblivious to himself, with each tax return, he was depositing new questions in his subconscious.

MORE: Which of Your Existing Clients Are CAS-fit? | Don’t Wear a Mask | The 8-Step Method for Launching Client Accounting Services | What CAS Is … and Is Not | Client Accounting Services: The Definitive Guide
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He is now a shared CFO of 12 companies. But he took up the CFO work accidentally.

How?
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Don’t Wear a Mask

How to show clients your true value.

By Hitendra Patil
Client Accounting Services

So, the CDC has indicated that a mask also protects the person who wears it. Previously, it was advised that masks stop people from spreading the coronavirus to others.

MORE: The Services That CAS Clients Want | The Services That CAS Clients Need | The 8-Step Method for Launching Client Accounting Services | Six Reasons CAS Is King | Who’s Afraid of Client Accounting Services? | What CAS Is … and Is Not | How to Develop the CAS Mindset | The Right Mindset for Client Accounting Services | Client Accounting Services: The Definitive Guide
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But this post is not about coronavirus and masks. When it comes to accounting and the advisory insights hidden in the financial statements and numbers, covering those with a mask is not good for either the clients or the accountants.
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The Services That CAS Clients Want

Happy businessman using smartphone at officePlus six more general human wants to consider.

By Hitendra Patil
Accountaneur: The Entrepreneurial Accountant

What some clients feel is an absolute need, others may feel is not so.

People may need to book an Uber or Lyft ride, but some of them may want a premium ride.

MORE: The Services That CAS Clients Need | The 8-Step Method for Launching Client Accounting Services | Six Reasons CAS Is King | Who’s Afraid of Client Accounting Services? | What CAS Is … and Is Not | How to Develop the CAS Mindset | The Right Mindset for Client Accounting Services | Client Accounting Services: The Definitive Guide
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Some of your CAS will be the premium ride some your clients will want. And – don’t be surprised – for some clients, your premium services will be the need (you want such clients).
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The Services That CAS Clients Need

Portrait of a cheerful businessman smiling at the camera15 that fall under the umbrella … how many do you already offer?

By Hitendra Patil
Accountaneur: The Entrepreneurial Accountant

Client accounting services generally constitutes three key service segments:

  • after-the-fact financial statement preparation, i.e., “write-up”
  • business transaction processing
  • outsourced CFO and controller services

MORE: The 8-Step Method for Launching Client Accounting Services | Six Reasons CAS Is King | Who’s Afraid of Client Accounting Services? | What CAS Is … and Is Not | How to Develop the CAS Mindset | The Right Mindset for Client Accounting Services | Client Accounting Services: The Definitive Guide
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Tax planning/tax strategy services may also become part of your CAS offering if you have interest/expertise in that segment.
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