Why Do Things Often Go Bad Between Founders and Financial Managers?The biggest culprit is an owner who's demanding more from his or her accountant team than those people are qualified to handle.

You're smart to ask this question now, because in my experience things often do go bad between business owners and their CFO or top accountants. The biggest culprit is an owner who's demanding more from his or her accounting team than those people are qualified to handle. When I go into companies to help with CFO-level needs, I'm often welcomed with open arms by controllers who have been beat up for months, even years, over expectations that are impossible for them to meet.

Bookkeepers are trained to collect and enter transactions into your accounting system, then produce an income statement and a balance sheet. Controllers can produce financial statements and conduct some basic analysis, such as areas of the business where costs are out of control or where savings can be had. A CFO takes those reports to make strategic insights for the company and figure out how to pay for them, which may involve preparing the paperwork to secure financing. If you're expecting more from people than what they're trained to do, guess what? You're banging your head against the wall.