What does a CFO do and how can anyone become one?
In: Economics
Most CFOs come with an accounting or finance background. The CFO is responsible for all the accounting in the company – ie keeps track of all the dollars, usually runs the tax strategy, handles regular internal and external audits, prepare financial reports and statements.
For a small private company, knowing the business, being detailed oriented and understanding money matters is usually sufficient. But for larger public companies, the CFO has to spend a lot of time with external experts like auditors, tax attorneys, investment relations/analysts, bankers, lawyers as well as the Board of Directors. For the US, every company must have a CEO and CFO registered with the registrar of companies. Those are the only two positions that MUST be filled in a company.
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