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The Role of a CFO

The role of a CFO is one of great importance. Learn more about it here and what you can do to gain this top position someday.

It goes without saying, that a CFO is a senior position within top corporations and involves dealing with the company’s money.

Daily activities of a CFO includes managing the company’s finances, planning for future finances, record keeping and financial reporting.

CFO’s report to CEO’s, however they work alongside the Chief Operating Officer (COO) to work out strategic plans and minimize risk and losses. They are also in charge of deciding how to invest the company’s money and this includes deciding employee pay.

Economic forecasting also plays a big part in what the CFO does daily as well as producing budgets for the future.

As well as this, CFO’s must also report to investors and board of directors. It goes without saying that all these relevant stakeholders firmly rely on the information the CFO provides them.

Many CFO’s hold an MBA, MS, or hold accounting qualifications.

The role today

Previously, this may have just been a solely numbers role, however, in recent years the role now encompasses a range of things including CFO’s playing a part in deciding the future of the company.

However, the role will differ depending on what needs the company has and CFO’s typically are internal hires.

If you’d like to check out more informative reads, visit the TSoM blog page..