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When you have a finance background and are already working in accountancy and finance, your ultimate goal could well be to grow to be a Chief Financial Officer (CFO). However what does a CFO do and what skills and experience do it’s essential to turn into one?

Who’s a Chief Financial Officer?

CFOs oversee all the financial operations of an organisation, including accounting, financial reporting, tax, enterprise control and treasury. They handle all aspects of financial matters and choice making.

What does a Chief Monetary Officer do?

The Chief Financial Officer directs a company’s financial goals, goals and budgets. When you work as a CFO, you oversee the funding of funds held by the company and assess and manage related risks. You also supervise cash management activities, execute capital-elevating strategies to help a firm’s growth, and deal with mergers and acquisitions. Most CFOs are additionally answerable for managing the corporate investments and will sit on the board.

When you work as a Chief Monetary Officer in a smaller company, you might be expected to carry out a range of accounting tasks, while executives at bigger companies typically assessment reports and data from numerous divisions within their companies.

Training and training wanted

As with all ‘Chief’-level executive positions, you will need a number of years of experience at a senior administration level as well as a degree in accounting, finance, economics, enterprise or a related subject. Many CFOs begin their careers as finance professionals, external auditors (Big four), accountants or managers of small divisions, and work their way as much as senior positions within a company.

The number of years of management experience you will want will depend upon the dimensions of the corporate and the extent of the duties involved. Many Chief Monetary Officers have an MBA, a Masters or another type of advanced degree.

Skills wanted

If you’re willing to turn into a successful CFO you will have to demonstrate more than just outstanding finance skills. You must have the ability to make smart and strategic choices on behalf of the organisation, and try to be able to look holistically on the company and understand what it needs.

Importantly, you must also be able to translate monetary data into useful information for these throughout all levels of an organisation. Leadership, interpersonal and communication skills are also important in such a high level position.