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How the CFO is responsible for the finances of a company?

Sunday, February 14, 2021


As a CFO, you have overall responsibility for financial issues in the company you work for. This involves responsibility for budget and accounting, and control over investments and expenses.

Common tasks:

·         keep annual accounts with notes and interim accounts

·         budgets and forecasts 

·         plan financing, investments and taxes

·         have control over consumption and profitability

·         have the training of employees in your department

·         is part of the company's management team

The CFO is often the head of both the finance department and the accounting department. It involves both professional responsibility, management tasks and personnel responsibilities. You are also the company's link to the auditor when the annual settlement is to be approved.

As a financial officer, you must be theoretically and analytically inclined. You must have good communication skills both in writing and orally. You must also have the ability to lead and manage.

A financial officer is a person who assists a company in financial investment and asset management. In addition, the virtual CFO services in India handles clients' insurance matters and helps them plan their future investments comprehensively. Financial counselors work for organizations or companies, sometimes freelance. For more information about the job descriptions and requirements of this profession, please refer to our article below.

A Chief Finance Officer manages all the financial aspects of a company. That person is a problem solver, focused on ways of creating value. The financial aspects of a business to manage include capital estimation, cash flow management, capital structure, investor contact, working capital management, foreign exchange trading, and dividend policy, financial planning and risk management. The larger the business, the more specialized a person's duties are.

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Routine activities vary widely over time and special projects (eg a cost-benefit study of different new store locations) are commonplace. The end of the quarter and the end of the year can be a busy time. Some days the entire team will have to work together and analyze the data, and most of the time will be working in groups. The bigger the company, the more likely you are to work as a team. Close contact with internal customers is required, and increases over time. You can obtain an ITIN number with the help of a CFO.

Essential Skills of a CFO

The jobs of a Finance Specialist require a high concentration and a constant flow of thinking, so the required qualities of a Financial Officer are as follows:

·         Problem solving skills and logical thinking

·         Understand financial statements, business strategy, and the relationship between the two

·         Pay attention to financial market and economy

·         Communication skill

·         Marketing skills

·         Prefers to work with others, teamwork skills

·         Enjoy learning new things

·         High professional ethics

·         Leadership skills

·         Good calculation skills

·         Computer skills like Excel, PowerPoint, and Access

What are the requirements of a Chief Financial Officer?

·         Graduated from the University majoring in finance, banking, accounting, auditing or related majors.

·         Priority for candidates with CPA, ACCA or CFA certificates.

·         Proficient in office computing Ability to plan, report, present.

·         Ability to analyze and synthesize problems Being able to read and understand specialized documents in English is an advantage Withstand high pressure. 


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