Kruze clients are twice as likely to get acquired as the average startup.  Find out why here
Back to questions

Does a CFO need to have his CPA or CFA?

Vanessa Kruze, CPA, is a leading expert in startup taxes and tax compliance. Her team at Kruze Consulting has filed thousands of tax returns for companies that have raised billions in VC funding, and her work has been diligenced by leading VCs, attorneys, and M&A teams at the largest technology companies.
Vanessa Kruze, a highly-experienced CPA, brings valuable tax expertise to startups, drawing from her rich background at Deloitte Tax and as a financial controller for a $20 million startup. As the leader of Kruze Consulting, recognized multiple times in the Inc 5000 list, she specializes in navigating the complex tax landscape for startups. Her firm is known for delivering precise and strategic tax solutions, delivering tax credits utilizing advanced tools to ensure compliance and optimize tax benefits for startups throughout the United States.

Table of contents

A CFO does not need to have a CPA, CFA, or MBA designation. But of the three, having a CPA designation does help dramatically .

I’ve passed the CPA, and I can say that it is the most important designation to have if you’re considering being a startup CFO. And having taken the CPA, CFA, GMAT, and MBA courses, I can attest that the CPA is the most exhaustive and comprehensive. We actively encourage our accountants to get the CPA, and I believe that we have the best CPAs for startups in Silicon Valley.

I got through Level II of the CFA before I discovered that it didn’t really matter if you want to be a CFO. The CFA designation is best suited for those that want to be involved in institutional finance (hedge fund manager, IR, etc). Our COO Scott passsed the CFA and was a VC; he reports that the CFA did little to nothing for his career. CFA dues tend to be a bit of a racket too. You can’t say that you’re a CFA unless you pay hefty dues to the Institute. Which is pretty ingenious… the CFA Institute created a test and designation but they make you pay to flash the letters. In other words, they’re laughing all the way to the bank.

As for the MBA, again it’s not necessary to be a CFO but it does add points if you don’t have a CPA. An MBA designation helps with only one aspect of your potential CFO duties: relationships to cohorts who will become VCs, angel investors, and bankers. A number of our fractional CFO’s have MBAs, and tech founders tend to like working with finance professionals with a top tier MBA. However, if you talk to our actual CFOs who have MBAs, they tend to downplay what they learned and talk more about the people they met during their masters programs.

Categories:

Bookkeeping Startup Finance Venture Capital
View this question on Quora

Top Articles

READY TO CONNECT FOR A FREE CONSULTATION?

We are the experts at helping seed/VC-backed Delaware C-Corps with their accounting and finances!

Talk to an experienced accountant, not a generic sales person

Alex Janeck Kruze Consulting
Alex Janeck
Edith Silva Kruze Consulting
Edith Silva
Randy Hall Kruze Consulting
Randy Hall
Viz AI

$250M+ VC Funding Raised

"I had a great experience working with Kruze Consulting when we raised Series A. They know what VCs need to see, and how to present a startup’s books and finances. If you are going to raise venture capital, you need experts like Kruze."
Chris Mansi

Chris Mansi

CEO

Startup Venture Capital Assistance

With former venture capitalists on staff, our team is here to help you navigate the fundraising process and manage your board of directors

Scott Orn Kruze Consulting
Scott Orn
COO | Former VC
Healy Jones Kruze Consulting
Healy Jones
VP FP&A | Former VC
Pequity

Scale Remote Operations & Team

"Kruze has supported us above and beyond basic accounting needs by ensuring we have everything we need to expand and support our team wherever they may be located"
Zack Fisch

Zack Fisch

Head of Operations & Legal

Clients who have worked with Kruze have collectively raised over $15 billion in VC funding.

We set startups up for fundrising success, and know how to work with the top VCs.

Vanessa Kruze, CPA Kruze Consulting
Vanessa Kruze, CPA
Founder & CEO
Kruze Logo

Experienced team helping you

Our account management team is staffed by CPAs and accountants who have, on average, 11 years of experience.

Bill Hollowsky, CPA Kruze Consulting
Bill Hollowsky, CPA
VP of Accounting Services
Claudine Vantomme, CPA Kruze Consulting
Claudine Vantomme, CPA
Controller
Morgan Avery Kruze Consulting
Morgan Avery
SUT/R&D Sr. Tax Accountant
Beth Bassler Kruze Consulting
Beth Bassler
Controller, CPA
Protara Therapeutics

Grew from a 2-person startup to a NASDAQ listed public company.

"The Kruze team helped us grow from a 2-person startup to a NASDAQ listed public company in 2 years. We wouldn’t have gotten public without Kruze’s support. Anyone thinking of launching a startup should make Vanessa their first call!"
Jesse Shefferman

Jesse Shefferman

CEO

Kruze Logo

Get in Touch

Please help us connect with you

How can we reach you?

Our first response is typically via email, so please check your inbox.

Help us have a productive first consultation by providing some additional information.

What year was your startup incorporated?

What is your stage of funding?

(pick up from the list)

Approximately how much funding have you raised?

(please enter a dollar value such as 5000000)

Help us understand what you are looking for:

(Optional, click the ones you need)

Anything additional that you’d like to share?

Optional - if you’d like to share anything else to help us prepare for our consultation, please let us know. We are also happy to sign an NDA, just let us know.

Q&A icon

How should convertible note financing be handled on the balance sheet?

Q&A icon

What is the best accounting & POS Software?

Q&A icon

What is the best accounting software to use for a startup CPA firm?

Q&A icon

What do you like most about Credit/Accounts Receivable?

Recent questions

Top viewed questions

  Talk to a leading startup CPA