Part of the responsibilities of a company's chief financial officer (CFO) is to accomplish controllership duties, which involve providing shareholders, management, and other stakeholders with up-to-date information on the state of an enterprise's financial state over a period.
The role of the CFO as the gatekeeper of a company's financial plays into its additional role in advising corporate operations and executive decision-making. Beyond merely keeping the business' internal stakeholders updated on the state of the enterprise, however, CFOs also serve as advisors.
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Image source: cfonet.biz |
Financial information reveals a lot about the state of the company. Among these include the relative success of a new venture undertaken, operational inefficiencies that cut into the company's revenue, or a plateau in growth and profit that need to be addressed. The data can influence the level of confidence displayed by the company's shareholders, while information gleaned from these records can help business leaders make informed decisions on critical issues.
The CFO is thus charged with ensuring the accuracy and timeliness of the data. Moreover, CFOs today should not just be that of a passive provider of information to help. The role of adviser should be active. CFOs and their staff should take the initiative to evaluate data and point out both key areas of improvement and find opportunities growth that the business should capitalize on.
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Image source: nebula.wsimg.com |
Judd Feldman currently works as the CFO of Access Information Management, where he oversees matters related to accounting, finance, acquisitions, pricing and real estate. Visit this blog for more updates on his professional endeavors.