The post of Chief Financial Officer is one of the most important in a company. As the name suggests, they are the people that are in charge of all the finances of a company. Money is the most important factor for any business and the CFOs have to be extremely good in handling it. For further information, read the CFO job description given for your read.
In a business, large sums of transactions take place on a daily basis. Even though, there is an accounting department looking after the transactions, the CFOs are the main people in charge. They are answerable for all the transactions and their permission is required for all major transactions. Hence, all the departments come under them and their transactions are closely monitored by the CFO's.
The CFO's are a direct part of the board of directors. They are an integral part of the board and play a major role in the entire decision making. They also present to the board the books of accounts. They have to keep a close watch on the accounts f the company and ensure profits. If the accounts are lagging behind, the CFO will implement cost cutting measures in consultation with the board and accounts department. These measures are an important part of the CFO job description.
Running an office is no mean task. Although, there are departments and people in charge of the smooth functioning, the CFOs are the main driving force behind the work. They have to ensure that all the payments are made in time, as this affects the overall accounts of the company. They also have to ensure that all the credits are paid on time and the debts are collected. This will help maintain a good reputation for the company.
The CFOs are also the face of the company many times. Even though, there are chairmen and directors that represent the company, some clients prefer meeting the CFO's as they are finance related people. However, these are still just a few of the duties of CFO's, to know about it in even more detail, read the CFO job description given below.
Duties and Responsibilities of a CFO
Educational Qualification Required for becoming a CFO
Career Advancement
A CFO job is a part the cream of the management. The only few jobs above them is the post of a CEO or a Chairman. They can get promoted up to these positions.
CFO's are important for any major company today. They have the expertise in finances and know how to handle money situations. Not enough can be said about the importance of a CFO job description.