What type of things does a CFO do?
What is the CFO in charge of? What are the specific things he/ she would look over? What are some typical requirements? #finance #management #ceo #corporate-finance #cpa #executive-office #cfo #financial-reporting
You've received some good answers thus far. The only thing I will add is there's a relatively new role in industry, especially in Start Ups called a Chief Revenue Officer (CRO). Some people confuse this role as being responsible for sales, others sometimes confuse it with the CFO role. When a company has a CFO & a CRO the CFO is usually responsible for expenses while the CRO is responsible for everything associated with increasing Revenue. Good luck
To become a CFO usually requires a degree in accounting or finance in addition to an advanced degree or certification such as a Masters in Business Administration , CPA, or CFA (Chartered Financial Analyst).
A CFO's role varies by company size and industry to some extent, but in general the CFO is responsible for managing the Accounting, Finance, HR, and IT functions. They control the books and make managerial decisions related to the companies finances, capital investments, growth and development, and other strategic decisions that ultimately affect the bottom line.
Expanding on the answers you have received.
With machine learning, big data advanced analytics, artificial intelligence and the real time close, the role of the Cfo is moving towards strategy and working with the business. He is becoming a trusted advisor and more CEO like.
Based on the size of the company, the CFo also has COO type responsibilities such as procurement, facilities and global real estate.
The Cfo’s Role will continue to evolve and the best CFOs will be able to adopt to change and transform themselves and the finance function.
Hope that helps,