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What is the full form of CFO?
CFO stands for Chief Financial Officer. CFO manages an organization’s finances including financial risk management, financial planning, financial analyzing, and record-keeping. He also supervises data in other fields. CFO is called a Finance Director in the UK and usually reports to the CEO and the Board of Directors. He may also be a member of the board and lead the finance department.
Eligibility criteria to become CFO
- Most CFOs have an MBA, or Master of Science in Finance or Accounting, or are Certified Public Accountants with an accounting background or CFA.
- A finance unit usually includes Certified Public Accountant, CA, Chartered Certified Accountant, and Certified Management Accountant.
Primary duties of CFO
- Designing and executing the company’s financial strategy
- Analyzing financial reports
- Responsible for capital structure and financial operations
- Reports financial information to the CEO
- Responsible for creating tax & financial planning approaches
- Submitting financial reports to the board.
- Review economic weaknesses and strengths of the company and execute proper actions.