The two roles are very different, but they are not mutually exclusive. You don't need to be a Certified Public Accountant (CPA) to be an effective Chief Financial Officer (CFO), nor do all CPAs need to aspire to managing corporate finances.

What percent of CFOs are accountants?

The top undergraduate major among CFOs is accounting. Among the 652 CFOs with known educational backgrounds in the survey, 162 majored in accounting. 44% of CFOs are CPAs; MBAs make up 60.5% of the CFO population (10.4% are both CPAs and MBAs).

Is CFO finance or accounting?

Key Takeaways

CFOs are captains of a team that covers both accounting and finance and consists of senior leaders, such as controllers and VPs of finance, and operational staff — accountants, bookkeepers, tax specialists, data analysts.