Question

Discuss the job of a CFO. What should you do? How should you make the decisions?

Answer 1

CFO i.e. Chief Financial Officer of the company. He hasa primary responsibility for the planning, implementation, managing and running of all the finance activities of a company including business planning, budgeting, forecasting and negotiations. The CFO job description should also extend to obtaining and maintaining investor relations and partnership compliance.

As a CFO my activities would be-

- Providing leadership direction and management of the finance and accounting team.

- Providing strategic recommendations to the CEO/ President and members of the executive management team.

-Managing the processes for financial forecasting and budgets and overseeing the preparation of all financial reporting.

- Advising on long- term business and financial planning.

- Establishing and developing relations with senior management and external partners and stakeholders.

- Reviewing all formal finance, HR and IT related procedures.

As a CFO, my role is very crucial and my each decision should be in favour of company.

- Before taking decisions, I will discuss all important points with CEO and BoD and explain all the strategies.

- Decision taken should be efficient,practical and effective in long term .

-All financial decisions should be taken for benefits of company.

- Before taking decisions, I should analyze all past performance reports and then predict the future.

-Decision should be data driven, scientific and objective decision making process.