CHIEF FINANCIAL OFFICER (CFO)
Welcome to Science lovers. We will share about "Chief Financial Officer (CFO) to you. Come be listened to.
The highest position
in the finance department is the Chief Financial Officer (CFO). Particular
company might call "Vice President of Financial" or the Director of
Finance. A CFO is directly responsible to the Chief Executif Officer (CEO) or
to the President Director is responsible for the board of directors (board of
directors) and Chairman (Commissioner).
Technically a CFO
has a status equal to the vice president of the other (marketing, production /
manufacturing, engineering and HRD. That is, if viewed in the organizational
structure of traditional enterprise-antiquity. In fact, the CFO is the most
important (and most powerful) second in a the company, after the CEO.
If anyone is
curious, and thought: why? Because all of the company's operating cycle will
not run without money (funds) and the effectiveness of the use of funds is the
authority and responsibility of CFO-from planning, allocation, utilization,
until the end of the measurement results of the company's operations is the
responsibility of the authority at the same time CFO. So by the board of
directors and shareholders, the CFO regarded as the person who most knows the
ins and outs its operations from upstream to downstream, from the beginning to
the end of the cycle. That is also why most position of CEO in large companies
more than the director was replaced by CFO of the other part. Stephen
Bollenbach and Doug Ivester only the two most obvious examples.
Bollenbach, before
assuming the position of CEO at the Hilton Hotel network, was CFO for the
Marriott Hotel. At the Mariott group, he received high honors for his role in
the split Mariott be Host Marriott-manager of the hotel, and Marriott
International-manager of real estate. After that Bollenbach moved Walt Disney
Co. CFO position at that time managed to acquire Capital Cities (one of the
companies under ABC Group). And eventually became its CEO Bollach Hilton
Hotels.
Doug Ivester was CFO
of its Coca-Cola Enterprise. Cola-Cola in Dough role frees the company from
debt and declining bottling winding devision, while freeing debt convolute
Coke. Further Dough CEO positions in the world's giant beverage company.
There is no official
rule that says that the CFO position must be filled by a person who holds an
MBA finance. But in fact, most large corporations today's CFO in addition to
highly proficient in accounting and financial matters, is also very
understanding of business management-which can be achieved by taking MBA-course
study of well-known universities.
Anything Existing
Team In The Finance After CFO?
The players in the
finance department, under CFO consists of two big teams, namely:
(a) Team Estimator /
Examiner (The Measurer); and
(b) Implementation
Team (The Executor).
While the function
of planning is done jointly by both this team. Picture with a simple chart
below:
Team gauges (The
Measurer) do more measurement functions, checks and financial planning. While
the Executive Team (The Executor) more focused on the Implementation and
Planning.
For example: A Tax
Accountant, in addition to conducting an assessment (examination) of the tax
liability of the company, he also plays a role in planning to minimize the
operational cost of the tax on the company as a whole.
Team gauge is headed
by a Controller, whereas in the implementing team led by a Treasurer. Among
them, in many cases, if a CFO does not exist (promoted to the CEO or other
company move), the position of CFO more than replaced by a Controller
Treasurer. It was caused by the Controller is deemed to have a wider field of
duty, where almost all parts of the company did not escape the scrutiny
(measurement and assessment) of his. So that the controller is considered to
have a broader perspective than the Treasurer.
Hopefully, the above
explanation is useful for all friends. Thank you for visiting the Science
Lovers.
