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CFO mod 1 case - Essay Example

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The chief financial officer also known as the CFO is such a member of a country or such an officer that when it is the person who is responsible for the financial stability of a company or public agency he is regarded as a very important corporate officer who is responsible for the management and handling of financial risks of the business or respective agency…
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Download file to see previous pages This is done in orderto enable them to take better developmental and progressive steps. The title is equivalent to finance director, commonly seen in the United Kingdom. The CFO typically reports to the Chief Executive Officer, and is frequently a member of the board of directors.
CFO is a very diverse field. It is basically the back bone of all organizations and institutions. An effective and well equipped administrative department is what ensures that a company reaches its maximum potential and keeps growing bigger and stronger. CEO on the other hand is a field which require well educated and highly motivated, vigilant staff. CEO's are responsible for hiring all personnel, ranging from the janitorial staff, right up to the vice president of any organization.
The CEO is a very vital part of the company he follows and keeps updates on all aspects of a company and its staff right from the time they apply for a job till the time they get hired. They keep checks on any and all training and development that is necessary and make all necessary amendments. The question these days has come about regarding the necessity of separate CFO and CEO. And the similar curiosity as to whether there is actual need for a separate training department or not It is also common wondering whether the role of the CFO is a specialist role or can it and should it be fulfilled by a CEO and vice versa. CFO is a very vital part of all organizations. They are responsible for the efficient and effective management of the Human capital.
The main functions of CEO's are tracking the data points of each and every employee and staff member. Along with tasks such as selection, placement payroll and evaluation. In order to make a reduction in the excessive work load of these activities organizations started to employ individuals to handle these specific areas and thus there came the admistrative departments. And these days with technology at its peak these tasks are also being taken care of by automated computer based programs. Making it possible for the work of three separate organs of a company the human resource The CEO and the CFO to be done by one person that too with the click of a mouse key. This is the reason that the questions stated earlier regarding the need for separate individuals have started coming up.
CONCLUSION:
However like it has been mentioned above that both roles are very different from one another and there fore to think that they can be done by one person is not a wise thing. The Chief Financial Officer (CFO) of an organization has responsibilities that include internal financial control of the organization, financial reporting (external financial accounting), financing the organization, assessment of the capital budgeting process and an array of additional responsibilities. The CFO must have an external orientation and they must know all ways in which they can gather knowledge about the market with which their company deals and also the kind of investments the investors and share holders are making in order to give proper advice for future investments. There ...Download file to see next pagesRead More
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