Okay, now we’re getting into it!
A virtual CFO is an outsourced Chief Financial Officer. Large firms have highly paid staff members with in-depth expertise pertaining to that business entity. Of course, smaller firms cannot afford to fund such a position yet would still benefit from the expertise. That’s when they contract someone to guide them. The virtual CFO may also take the form of an Advisory Board so multiple levels of expertise are available. Whichever form the virtual CFO takes, they tend to be strategic in nature and take a long-term view.
A CPA is a Certified Practicing Accountant and is more focused on tax minimisation strategies. Their expertise is of a more day-to-day nature and they’re involved in the preparation of various financial reports, performing audits and organising and updating records.