Chief financial officer

From Wikitia
Jump to navigation Jump to search

As the chief financial officer (CFO) of a firm, you are the person who is in charge of the company's finances. This includes everything from financial planning to financial risk management to record-keeping and financial reporting. In certain industries, the chief financial officer is also in charge of data analysis. Some CFOs are referred to as CFOOs, which stands for chief financial and operational officer. In the United Kingdom, the phrase "finance director" is often used to refer to a chief financial officer (FD). The chief financial officer (CFO) usually reports to a chief executive officer (CEO) and the board of directors, and he or she may also have a position on the board. Besides supervising the finance department, the CFO serves as the organization's primary financial spokesman. Specifically, the chief financial officer (CFO) works closely with the chief operating officer (COO) on all business concerns, including budget management, cost–benefit analysis, forecasting requirements, and the acquisition of additional funds.

The majority of chief financial officers of large corporations hold finance degrees such as a Master of Business Administration (MBA), a Master of Science (in either Finance or Accounting), a Chartered Financial Analyst (CFA), or come from an accounting background such as that of a Certified Public Accountant. A finance department is often comprised of competent accountants who have certifications such as Certified Public Accountant, Chartered Accountant, Certified Management Accountant, and Chartered Certified Accountant (CPA, Chartered Certified Accountant).