Considering making your first Accounting & Finance hire? Investing in a new Accounting & finance hire is a great way to get better insight into your startup's finances, stay ahead of investor requests, and ensure your financial operations are running smoothly.
There are various roles within an Accounting and Finance department, and understanding the specifics of these roles will help you decide which is the right role for your startup. But before we can understand that, let's first cover the two sections that make up a typical accounting and finance department.
Your accounting and finance department is split between:
1. FP&A (Financial Planning & Analysis)
Financial Planning & Analysis typically includes items like your financial modeling and forecasting, board reporting, and budget to actuals, while Accounting typically consists of items related to bookkeeping, or operational items like processing payments to your vendors or invoicing and collecting from your customers, processing payroll and other accounting specific items.
Here are some of the roles that are common in an Accounting and Finance department: