Some accounting firms promote that they offer Virtual CFO services. This is because the accounting bodies e.g. CPA etc. have told them they need to do this to remain relevant to their clients. The unfortunate reality is they don’t have the resources to deliver. This is because most recruits to accounting firms are fresh out of university, with no ‘real live’ business experience. You can’t amass experience from a textbook. You have to ‘live it’, experience it and learn from it.
A dedicated CFO has gained this from (sometimes) painful experience. They know how to see trends and guide business owners away from ‘icebergs’ that could sink the ship.