The Facts And Traits Of A Cfo

List and briefly describe the three general areas of responsibility for a chief financial officer (CFO) of a selected non-financial company which is listed on Australian Stock Exchange (ASX). How those responsibilities can affect ultimate objective of the company. The name of company you chose should start with the first letter of your name, surname or middle name. (Maximum of 750 words)

As a CEO or a member of the management team it is important to have a very clear understanding of all the financial documents that are available to them. It is not only their duty but their responsibility to know these documents and finances extremely well because

The globalization of business activity has resulted in the need for a uniform set of accounting rules in all countries. With U.S. corporations doing so much business in other countries, it is imperative that the SEC and international regulatory boards devise a set of rules and regulations that would benefit both parties. If this did not happen, international companies would be able to do whatever they wanted without repercussion because of the discrepancies in the differing sets of rules. Accomplishing this universal set of rules would allow companies to list securities in any market without having to prepare more than one set of financial statements. There have been so many

You have been named the Chief Financial Officer (CFO) of a two year old company, CUNY Analytics. Financials have been prepared by a bookkeeper. As CFO, you responsible for the preparation of accurate financials, analysis and review of the financials before they are released and communication of the results of your company to banks, investors, creditors and the government, as necessary.

In my tenure as a manager there have been at least a dozen different Chief Executive Officers (CEOs). One of

As the community’s new CFO it is my responsibility to ensure fiscal responsibility, budgetary balance, and to address the ever on growing financial challenges of a steadily developing community. The current five-year forecast anticipates an annual revenue increase of 2% counterbalanced with an additional 4% cost increase to operate. This leaves the community with a projected 2% deficit in the overall budget moving forward. Compounded to this issue is the ever developing need for capital improvements throughout the community that have yet received funding or have been budgeted. This is not a sustainable model and requires an enhanced financial strategy to offset overhead costs while still providing the opportunity for economic growth within the community. Below is a four phase financial policy that consists of several stratagems that will help positively affect the community financially, economically, and socially. This plan includes shrinking inefficiencies in expenditure budgets, increasing the revenue stream to supplement the cash reserve funds, and the implementation of alternative revenue streams to supplement capital improvement projects over the next 10 years. Finally, by using these three initiatives as a foundation to build fiscal responsibility and increase purchasing power, it is necessary to continually strive toward strengthening in the recognized bond rating of the community. By combining all four initiatives, the community can maximize its growth

It is highly recommended that the CFO does not interfere with the CAE’s job to provide feedback directly to the audit committee. Moreover, the company’s strategy should be discussed to assure that COO, marketing and sales VP and general counsel do not take passive roles. Additionally, the CFO should not focus so greatly on opposite strategy as presented by the CEO, as now the CEO wanted to maintain secure growth via acquisitions, securing gap in production and more geographic coverage, and on the other had the CFO wanted only more and more new acquisitions, which was not the right approach because his subordinates may have been confused about company’s strategy.

I think they hired accountants to help them manage their bookkeeping. If you want to succeed in business, you need to know about financial management. No matter how skilled you are at creating a product, providing a service, or marketing your wares, the money you earn will slip between your fingers if you don't know how to efficiently collect it, keep track of it, save it and spend or invest it wisely. Poor financial management is one of the leading reasons that businesses fail. In many cases, failure could have been avoided if the owners had applied sound financial principles to all their dealings and

Regulation is defined as a set of rules that is designed to control and govern conduct by authority (Deegan 2009, p.59). On the basis of this definition, Deegan (2009, p.59) has defined regulations relating to financial accounting as rules that are developed by independent authoritative body to govern the preparation of financial statements which are accounting standards. Since decades ago, there have been arguments for and against the existence of accounting regulations. With a stance of pro-regulation, this essay is going to examine the reasons that financial accounting and reporting should be regulated and the merits of accounting regulations.

The mission of FASB is to “improve reporting, focus on traits that are important and reliable and on quality of comparison and consistency, to keep up to date with current trends to reflect modifications in methods used and economic changes, and to improve the common understanding of the purpose and content within financial report” (FASB, 2008). The FASB has an obligation to uphold ethical standards as well as to ensure rules and regulations are followed in the way of financial reporting. The FASB uses input from other agencies when developing or amending standards such as the SEC. Before the Great Crash of 1929, little was done to regulate the securities market (SEC, 2008). Two laws were created to help improve investor confidence: “Securities Act of 1933 and Securities Exchange Act of 1934” (SEC, 2008). According to SEC (2008) the purpose of these laws is to make sure companies display accurate data about their financial accounts, the securities that are sold and involved risks and for the brokers who sell and trade to treat investors with respect by being fair and honest. A more recent law signed in by President Bush in 2002, was the “Sarbanes-Oxley Act of 2002” (SEC, 2008). This act created changes in improving responsibility, disclosures and

Often, the rules and regulations created by governing bodies are reactions to societal events and pressures. This pattern certainly holds true in regards to financial reporting. The first financial reporting regulations were set in place during the Great Depression in reaction to the stock market collapse of 1929. These regulations were The Securities Act of 1933 and The Securities Exchange Act of 1934, which established the Securities and Exchange Commission (SEC) and became the foundation for future financial reporting regulations. While addressing Congress, President Roosevelt said that the 1933 Act “…puts the burden of telling the whole truth on the seller. It should give impetus to honest dealing in securities and thereby bring back

As a future Chief Executive Officer there are several things I would want to strategize after viewing the video concerning the financial economy. There is massive change that is going to hit our economy. We have to prepare and create solutions to defeat disaster that is head towards us. The Accelerated Crash Course presented by Chris Martenson, reviews three things in vast detail concerning our natural inhabitants and our economic standing. These three things are: Economy, energy, and environment. These three E’s show how our world will soon be in a downturn. With our global economy and many others suffering from major debt we are not able to achieve a logical way to dissolve our own debt.

The CFO possesses many significant advantages as well as disadvantages if he/she is chosen to become the CEO.

First and foremost, it is important to know exactly what a CFO does and how he or she goes about doing it. The chief financial officer position is accountable for the administrative, financial, and

economy. The immediate effects of the economic condition impact that causes physical damage in global dynamic’ ripples cascade seen around the world. There are several critical primary financial management experiences every organization must face in the wake of economic reporting such as financial planning capital budgeting and capital structure. Financial planning is probably the most dynamic of the process for a Chief Financial Officer to understand the company’s performance. All this is taking place, and an effective financial decision making requires an understanding of working goals of the organization. In other words, it relates the ability to raise funds and the ability to manage risk in buying productive assets. This is a global environment in which tomorrow’s CFOs will operate (). Focusing on approach to working compatibly within a changing environment as the organization redistributes its goal.