The Chief Financial Officer In A Company Is Responsible For Which Departments Quizlet? (Correct answer)

The CFO is usually in charge of accounting, treasury, credit, legal, capital budgeting, investor relations, security analyst relations, and investment decisions.

What is a chief financial officer responsible for?

A: Chief financial officers hold the top financial position in an organization. They are responsible for forecasting the organization’s financial standing based on financial and operational data and reports provided by the finance and accounting teams and advising the CEO and board on strategic direction.

Which department is under the chief financial officer?

The CFO supervises the finance unit and is the chief financial spokesperson for the organization. The CFO directly assists the chief operating officer (COO) on all business matters relating to budget management, cost–benefit analysis, forecasting needs, and securing of new funding.

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What are the main responsibilities of a chief financial officer in a large company?

The Chief Financial Officer (CFO) of a company has primary responsibility for the planning, implementation, managing and running of all the finance activities of a company, including business planning, budgeting, forecasting and negotiations.

What departments is a CFO not responsible for?

The historical tasks of the finance function such as books and records, financial reporting, and statutory compliance continue to be important but are now taken for granted by CEOs. The CFO of today and tomorrow must be able to take financial data and use it to influence operational decision making and strategy.

What does finance department do in a company?

The objective of the finance department is to maintain flawless bookkeeping. This role also includes payroll management, and providing the right chart of accounts for managing MIS expectations of the management.

What are the duties and responsibilities of finance officer?

A Finance Officer job description generally includes:

  • Assisting in the preparation of budgets.
  • Managing records and receipts.
  • Reconciling daily, monthly and yearly transactions.
  • Preparing balance sheets.
  • Processing invoices.
  • Developing an in-depth knowledge of organisational products and process.

Which organizational officer is directly responsible for managing a company’s cash and funds invested in various marketable securities?

The treasurer also has custody of cash and funds invested in various marketable securities. The CIO is responsible for IT.

Which position is generally directly responsible for financial planning and capital expenditures?

The person generally directly responsible for overseeing the cash and credit functions, financial planning, and capital expenditures is the: A. treasurer.

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Which department of a company is responsible for cash register operations and payment processing?

Basic Function The cashier position is accountable for error-free cash register operations, payment processing, and interactions with customers.

Who is chief financial officer of India?

Reserve Bank of India (RBI) has appointed Sudha Balakrishnan as the first Chief Financial Officer (CFO). She will be the 12th executive director of the RBI and will have tenure of three years.

What does the chief executive do?

CEOs are responsible for managing a company’s overall operations. This may include delegating and directing agendas, driving profitability, managing company organizational structure, strategy, and communicating with the board.

What are the three decision making functions of a finance officer?

The functions of finance involve three major decisions a company must make – the investment decisions, the financing decisions, and the dividend / share repurchase decisions.

Is the CFO responsible for investments?

The primary job responsibility of the Chief Financial Officer (CFO) is to optimize the financial performance of a company, including its reporting, liquidity, and return on investment.

What does CFO stand for in construction?

To meet this need, many contractors reach a point where they should either appoint or hire a Controller or Chief Financial Officer (CFO).

Is the CFO responsible for credit?

The CFO is also responsible for the company’s present financial condition, so they must decide how to invest the company’s money, taking into consideration risk and liquidity. In addition, the CFO oversees the capital structure of the company, determining the best mix of debt, equity, and internal financing.

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