CFO Full Form | What is the Full Form of CFO




CFO Full Form - Chief Financial Officer

 Chief Financial Officer

Chief Financial Officer

  • CFO stands for Chief financial officer.
  • It is the designation of a senior finance manager in a company who monitors and manages all financial activities in a company.
  • He's the head of finance and accounting department and is responsible for financial and risk management operations of the company.
  • Generally, rich experience in finance or related fields together with an education background in finance, business or similar field is required to become a CFO.
  • CFO reports to the Chief executive officer (CEO) and board of directors. A finance manager must have a management degree or strong accounting background to be promoted to the position of CFO.
  • Some of the key responsibilities of a CFO:
    • Plan and execute the financial strategy of the company
    • Verifying the financial statements
    • Overseeing the capital structure and financial operations
    • Financial reporting to CEO
    • Planning financial and tax strategies
    • Reporting financial information to the board of directors
    • Managing accounting, legal, tax, investor relations and treasury departments
    • Analyze the financial strengths and weaknesses of company and suggest corrective actions accordingly.

Eligibility criteria to become CFO

  • Many big enterprises cfos have professional credentials like an MBA (Master in Business Administration), a Master of Science in Finance or Accounting, or a certified Public Accountant with an accounting background or CFA.
  • A finance unit usually includes professional accountants like Certified Public Accountant, CA (Chartered Accountant), Chartered Certified Accountant & Certified Management Accountant.

Role

  • This is not limited to maintaining the accounts or reviewing the financial numbers. Instead, over the past years, the chief financial officer’s role has diversified, and a CFO is expected to utilize his financial knowledge and knowledge to drive the company towards growth and success. As a result, this can be seen playing the following roles during a company.
  • Planning strategies for the growth of the company by making important and relevant financial decisions. The decisions should be in line with the long-term goals of the company.
  • Acting as a leader and taking ownership of the company’s financial results and planning the future course of action.
  • Identifying the strengths of the team and utilizing those strengths for the higher financial performance of the company.
  • Being the face of the company for dealings with the banks, investors, customers, and suppliers as chief financial officers is one of the company’s senior-most persons.


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