Why hire a financial consultant?

Prudent financial management goes well beyond standard accounting procedures. A sensible financial consultant can help your organization write a business plan, raise capital, increase revenue, make projections, propose budgets, optimize spending, visualize data, organize financial statements, and more. A financial consultant may work with an accountant on specific aspects of your organization's finances. Maintaining orderly finances will make the accounting process much simpler and can significantly reduce accounting costs. Perhaps most important, having a specialist take on financing responsibilities allows an entrepreneur more time and energy to focus on aspects of the business where their strengths lie and that they enjoy.

How is finance different from accounting?

Finance and accounting are related but separate disciplines. Finance, put simply, is management of money. Finance considers how organizations raise funds, generate income, and spend and invest their capital. Financial management determines how entities utilize their fiscal resources to achieve their goals. Accounting is the practice of tracking and recording finances. Financial accounting statements are used by management, investors, and tax authorities to know how an organization is managing its finances. Thoughtful financial management drives and simplifies the accounting process. Both finance and accounting processes are critical to operating a successful organization.