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.
- Administration of funds
- Planning and Controlling Business Operations
- Acquisition of funds
- Protection of assets
- Tax administration.
- Investor relation
- Analysis of acquisitions
- Government reporting
- Appraisal of economic outlook
- 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.