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The Common Services and Responsibilities of a Chief Financial Officer

CFO is basically an abbreviated term that refers to chief financial officer, and it is described as an individual who acts as a corporate officer with the primary responsibility of managing and directing any financial risks within the company or corporation. A chief financial officer can also be called as a finance director or FD, or a chief financial and operating officer or CFOO. The different kinds of accounting and financial matters within a corporation or company is being handled by a chief financial officer.

A CFO has basically a lot of various responsibilities within the company or corporation that hires him or her, and that typically includes company liabilities, company performance, department supervision, financial relationships, raising or finance capital, record control, shareholder relations, budgeting and expense control, financial obligations and cash flow. When it comes to cash flow, the CFO is the one who controls the cash flow position, and that typically includes maintaining the integrity of other valuable documents, funds and securities, and understanding the sources and uses of cash within the company. In company liabilities, the CFO is responsible with the act of understanding all of the liabilities of the company or corporation, and that is due to the fact that a company has many statutory and tax obligations, leases, insurance summaries, legal contracts, and hidden liabilities in the form of contingencies. When it comes to department supervision, a CFO is the one who will serve as the supervisor of the various departments within the company, such as the HR, accounting, IT and finance department. When it comes to financial relationships, the CFO is basically responsible in establishing and maintaining the lines of communication of the shareholders, investment bankers and financial analysts of the corporation or company. In raising or finance capital, the CFO is the one who execute and establish any programs for the provision of capital being required by the company or corporation. In record control, the CFO is responsible in insuring that audits are to be completed in time, in preparing required financial reports, in providing insurance coverage, and in ensuring the maintenance of the appropriate financial records. In shareholder relations, the CFO is the one who analyzes the company shareholder relations information programs, policies and procedures, and that includes the interim and annual reports to the Board of directors and the shareholders of the company. When it comes to budgeting and expense control, the CFO is responsible in collecting the inputs, comparing the actual performance of the corporation with an estimated budget, and overseeing the budget process. There are absolutely a lot of professionals who works as chief finance officers, and their common services includes strategic planning, capital planning, business restructuring and financial reporting.

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