Learn More About the Responsibilities and Services Offered by a Chief Financial Officer to a Company CFO is an abbreviated term that stands for chief financial officer, and it is defined as a corporate officer who is primarily responsible in managing any financial risks of the corporation or company. A chief financial officer is also called as a chief financial and operating officer, which is abbreviated as CFOO, or FD, which stands for finance director. To be more specific, a CFO handles the different types of accounting and financial matters of a corporation or company. The common responsibilities of a chief financial officer or CFO to the corporations or companies that hires their services includes financial obligations, cash flow, company liabilities, company performance, department supervision, financial relationships, raising or finance capital, record control, shareholder relations, and budgeting and expense control. In cash flow, it is the responsibility of the CFO to control cash flow position within the company, and that includes understanding the uses and sources of cash, as well as, maintaining the integrity of securities, funds and any other valuable documents. When it comes to company liabilities, the CFO is typically responsible with the process of understanding all the different kinds of liabilities within the corporation or company. 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. In terms of financial relationships, the chief financial officer is responsible in maintaining and establishing the lines of communication with financial analysts, investment bankers, and shareholders. When it comes to raising or financing capital, the CFO or chief financial officer is the one who will establish and execute the programs typically designed for the provision of capital that is typically required by the corporation. In terms of record control, the chief financial officer is basically the one who is responsible in in preparing the required financial reports, in providing insurance coverage, in ensuring the maintenance of the appropriate financial records, and in insuring that audits are to be completed in time. In terms of shareholder relations, the chief financial officer is the one who is responsible in analyzing the corporation shareholder relations procedures, policies and information programs, and that basically includes the annual and the interim reports to the shareholders and the board of directors of the corporation. In budgeting and expense control, the CFO is the one who oversees the budget process, the one who compares the actual performance of the company with an estimated budget, and the one who collects the inputs. There are a lot of chief finance officers all over the world, and the common services they tend to offer to their clients includes capital planning, business restructuring, financial reporting and strategic planning.
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