Functions of Chief Financial Officer

Functions of Chief Financial Officer

The chief financial officer or director of finance or financial manager reports directly to the managing director or board of directors. In many cases a firm has a finance committee consisting of member of top management in such a situation, the chief financial officer will be a member of that committee. The chief financial officer will be a member of that committee. The chief officer will be a member of that committee. The chief financial officer has both line and staff responsibility. Bacon and Francis conducted a study on Duties and problems of Chief Financial Executive and listed the most important  functions performed by them are²¹.

1. Administration of funds
2. Planning and Controlling Business Operations
3. Acquisition of funds
4. Accounting
5. Protection of assets
6. Tax administration.
7. Investor relation
8. Consultation
9. Analysis of acquisitions
10. Government reporting
11. Appraisal of economic outlook
12. Management of the company’s financial organisation.

The Chief financial officer works closely with of the members of the top management team relating to aforementioned financial activities. He also supervises a staff including the treasurer and controller.