Accountant vs Strategic CFO – What’s the actual difference?

BenWatkins

Thought I’d share a breakdown here, as I see this question pop up quite often – especially in forums for business owners, startups, and SMEs.

On the surface, both roles deal with money and finance. But in reality, they focus on very different things.

👨‍💼 Accountant – The Financial Gatekeeper
Accountants are all about accuracy, compliance, and reporting.

They’ll handle things like:
Bookkeeping and ledgers
VAT and tax returns
Financial statements
Payroll

Making sure you're in line with HMRC and other regs

Their work is mainly historical – looking at what’s happened financially and keeping it clean, compliant, and correct.

Absolutely essential. But not really involved in shaping the direction of the business.

📈 Strategic CFO – The Financial Navigator
Now, a strategic CFO (Chief Financial Officer) takes a totally different view.

They use the financial data to guide business decisions. They’re forward-looking and usually sit at the leadership table, advising on big-picture stuff.

Think:
Financial forecasting and modelling
Strategy and decision-making support
Funding and investment plans

Risk analysis

Helping you scale sensibly

They’re not just about keeping the books straight – they’re about where the business is headed and how to get there financially.

⚖️ Quick Analogy
Running a business is like driving a car:

The accountant checks your speed, fuel, and makes sure the vehicle is road-legal.

The CFO helps you decide where to go, how fast to grow, and whether it's time for a new engine.

Both are important. Just very different roles.

🤔 So, do you need both?
If you’re a small business or early-stage startup, you’ll likely start with an accountant – maybe even part-time. But as things grow and get more complex, having access to a strategic CFO (even part-time) can be a game-changer.

Just something to keep in mind as you scale. Curious to hear what others think – have you brought in a CFO? What impact did it have?

BenWatkins

Please share your views