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Even if there are differences per group and business constructions, CFO leads monetary affairs along with IT, Law, Risk Management, Direct-Indirect Buying and Human Resources departments and plays an effective position in strategic management and planning by focusing on firm sustainability. Basically, CFO has three different heads. These are execution, supervision, and counseling. We will clarify execution position as providing security of financial charts and managing the cash that is the vital level of an organization in an optimum way. Supervision duty consists of; controlling the bills of some departments to see if these are used up in keeping with determined regulations and auditing operational processes by a deliberate and unplanned way to avoid corruption possibilities. And for counseling duty, we are able to exemplify issuing opinions particularly to the Board, CEO and all other managers about customer-supplier business partners, new business areas and products, incentives, firm and department performances. CFO is the eye of the Board within the firm and reliable enterprise consultant of CEO with all these attributes.

Support of the Board and CEO is very critical

Assist of the Board and CEO is the most importing thing for CFO to fulfill all these duties and responsibilities in a proper way. Because many of the assignments that sound good and asked to be done, can’t be performed as a consequence of lack of help on inter corporate conflicts and other reasons. We are able to kind the side effects of this kind of negative situations as an increase in company risks and miss the opportunities.

How CFO’s can determine priorities?

And this question is an important subject that CFO should pay attention to scientific and structural approach and maybe is competence within the dedication of a profitable-unsuccessful CFO. It’s not a very rational behavior to anticipate managing all these talked about totally different expertise areas and subjects by one individual under regular circumstances until CFO determines the proper priority and use the money supply and workforce of the corporate in a correct way. S/he can still manage his profession in a proper way and, in fact, s/he can still enjoy it. These duties handled by him/her are divided into four groups according to significance and urgency, and CFO should distribute these non-stop tasks in a correct way.

Urgent and important subjects

Urgent however unimportant subjects

Non-urgent however vital topics

Non-urgent and unimportant topics

CFO’s actually give primacy to “urgent and essential subjects” and will never work on “non-urgent and unimportant” subjects. But the point that makes the difference in that’s the time s/he spares time for “non-urgent but vital subjects.” The quintessence for this one could be; observing the personal and professional development of the workers from the bottom to the highest level that’s managed by her/him and contribute in person if possible. Even when this duty is extreme and lengthy-termed, the return of it is high. Because the more s/he has a greater and an equipped workforce, the more they can fulfill the complicated duties and responsibilities which might be provided.

Lesson: CFO should determine the priority in a proper way and will put money into the well-chosen team. In any other case, the occupation that CFO do would possibly turn out to be one of many riskiest profession.

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