What is the responsibility of the CFO?

The financial director is the person who is calledmaximize profits from the business and its value. He participates in the management of the activities of a particular enterprise, cooperating with managers of a higher level and contributing to the solution of the tasks set by the company. So, what are the main functions and responsibilities of the CFO?

The first group of functions of such an employee -strategic planning and forecasting of the enterprise. The CFO must assess the sources of financing for the company, the possible development risks, the effectiveness of cooperation with funding sources and so on. At the same time, the financier does not make decisions independently: all important issues are solved together with the owners and managers of the company.

As for organizational activitiesfinancial director, this specialist manages his department and coordinates the interaction with other structural divisions of the enterprise. Since all departments of the company must actively cooperate, these responsibilities of the CFO are considered very important.

In addition, the chief financier of any enterpriseperforms functions related to tactical and operational activities. Such responsibilities include management of sources of funds attraction, management of finances and current assets, development of the company's tax policy and its implementation, provision of information to users (data processing and financial reporting), planning of the company's activities in terms of finance, control over the economic security of the enterprise , ensuring its effective work. Naturally, all the above duties related to the tactical and operational sphere have a number of nuances and additional functions, which, in turn, may differ depending on the direction of the particular company and its features.

As a rule, functional dutiesfinancial director are fixed in the corresponding documents having the organizational-legal status. In most cases, the financier operates under the CEO. It often happens that the opinions of these employees may diverge, which causes conflicts and disagreements. In large companies, the CFO can be subordinate to both the CEO and the Board of Directors. In this case, everything that the CFO does (duties) is clearly stated in the instructions.

Currently, financial management in largecompanies play not the least role, so specialists in this field are very much in demand. If there is not such a position, the duties of the CFO can be divided between the director, the accountant and the heads of the units, but the fact that these functions must be performed remains a fact. Does the position of CFO in the company, depends more on its size rather than on its strategic plans. If we compare the position of the financier with other positions in the companies, then it appeared not very long ago. At first this employee managed financial flows, but with the development of business his duties expanded and began to follow the traditions of foreign practice.