Chief financial officer (CFO),
Definition of Chief financial officer (CFO):
Senior-most executive responsible for financial control and planning of a firm or project. He or she is in charge of all accounting functions including (1) credit control, (2) preparing budgets and financial statements, (3) coordinating financing and fund raising, (4) monitoring expenditure and liquidity, (5) managing investment and taxation issues, (6) reporting financial performance to the board, and (7) providing timely financial data to the CEO. Also called chief finance officer, comptroller, controller, or finance controller.
A chief financial officer (CFO) is the senior executive responsible for managing the financial actions of a company. The CFO's duties include tracking cash flow and financial planning as well as analyzing the company's financial strengths and weaknesses and proposing corrective actions.
The role of a CFO is similar to a treasurer or controller because they are responsible for managing the finance and accounting divisions and for ensuring that the company’s financial reports are accurate and completed in a timely manner. Many have a CMA designation.
How to use Chief financial officer (CFO) in a sentence?
- The meaning of CFO is simply the initials that stand for the title chief financial officer.
- CFOs oversee taxation issues for their companies.
- You may want to have a chief financial officer that is in charge of making most of your big decisions for the company.
- Often, a CFO is the third-highest position in a company, playing a vital role in the company's strategic initiatives.
- Although the role of a CFO can be rewarding, there are legal considerations that must be strictly adhered to.
- The chief financial officer of a company is the top-level financial controller, handling everything relating to cash flow and financial planning.
- I am very excited to introduce the new chief financial officer Greg Smith, he has already worked on many of our fund raisers, and consulted with the CEO about the new budget that will be put into effect next month, the board also approves his ideals for the next major investments the company will make, and will begin work to reform our credit, expense, and tax policy.
- The financial analyst reported directly to the chief financial officer who would review the financial statements the analyst had prepared.
Meaning of Chief financial officer (CFO) & Chief financial officer (CFO) Definition