Chief Financial Officer

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Chief Financial Officer (CFO)

The officer of a firm responsible for handling the financial affairs of a company.

Chief Financial Officer

In a corporation, the official charged with overseeing all financial matters. The CFO is the equivalent of a treasurer: he/she is responsible for ensuring the long-term financial health of the corporation. This includes mundane matters like signing checks and record keeping, but the CFO is also head of financial forecasting, budgeting, and managing the company's financial risk. The CFO is often a member of the board of directors, and reports to the CEO. In the United States, it is common for CFOs to have an MBA degree, but not necessarily a professional designation like CPA or CFA.
References in periodicals archive ?
Real-time polling: Invited CFO users will be able to answer poll questions about topical CFO-centric issues and receive real-time information on peer responses.
Caption: The ballroom of the Embassy Suites in west Little Rock was the setting for the luncheon at which CFO of the Year awards were presented to, below from left, Tracy Cude, CFO of Crystal Bridges Museum of American Art in Bentonville (Nonprofit category); Mamie Oldner, CEO and CFO of Stone Bank in Mountain View (Bank category); John Rogers, CFO and treasurer of Stone Ward in Little Rock (Small Private Company category); and David Brogdon, CFO of Bad Boy Mowers in Batesville (Large Private Company category).
The survey also reveals a mixed recovery approach by region, CFOs across the board had three major considerations they are factoring in their outlooks: growth, talent capabilities, and implications of local policies and regulations:
LOUISE MAWHINNEY was named Vice President and CFO, a newly-created position, for Helicos Biosciences Corp.
Wisehart, who specializes in outsourced CFO consultants, notes they may not sign checks, bind a company in negotiations or otherwise obligate it for services, but within those limitations they can provide the senior financial management that many small to midsize companies need.
When you're in a turnaround situation, your focus is more narrow than wide and the CIO and CFO have to be in lockstep," says Lanier CIO Ann Franks, who describes reporting to the CFO as a necessary evolution.
For whatever reasons, defensive or otherwise, CFOs saw themselves and their senior management associates as much more important than the annual report as an information source for the institutional investor.
Bregman added, "There are many qualified women who deserve to advance to the CFO role, but they aren't getting a chance because of companies' excessive caution.
JIM FINK Little Rock Christian Academy NONPROFIT CFO OF THE YEAR
For more information about Deloitte's CFO Signals, or to inquire about participating in the survey, please contact NACFOSurvey@deloitte.
The CFO had complete control over the company's finances, and was authorized to sign checks, perform bank reconciliations, post the accounting records and prepare the financial statements.