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A chief financial officer (CFO) is an officer of a company or organization who is assigned the primary responsibility for making decisions for the company for projects and its finances; i.a.: financial planning, management of financial risks, record-keeping, and financial reporting, and, increasingly, the analysis of data.
Similar to an accounting manager, they are usually subordinate to the manager, or report directly to the controller or CFO. In addition to their supervisory role, they will be responsible for monitoring and approving the financial processes and reporting of their department. [3] [4]
Corporate titles or business titles are given to company and organization officials to show what job function, and seniority, a person has within an organisation. [1] The most senior roles, marked by signing authority, are often referred to as "C-level", "C-suite" or "CxO" positions because many of them start with the word "chief". [2]
Virtual CFO (or vCFO for short) stands for virtual chief financial officer. A virtual CFO is an outsourced service provider offering high-skill assistance in the financial requirements of an organization, just like a chief financial officer does for large organizations. [1] A virtual CFO may be a single person or an entity.
There are considerable variations in the composition and responsibilities of corporate titles. Within the corporate office or corporate center of a corporation, some corporations have a chairman and chief executive officer (CEO) as the top-ranking executive, while the number two is the president and chief operating officer (COO); other corporations have a president and CEO but no official deputy.
The Chief Financial Officers (CFO) Act of 1990 (Public Law 101–576) signed into law by President George H. W. Bush on November 15, 1990, is a United States federal law intended to improve the government's financial management, outlining standards of financial performance and disclosure.
Zach Kirkhorn (born 1984) is a financial executive working in the automotive manufacturing industry. He served as the chief financial officer of Tesla, Inc. from 2019 until he stepped down in August 2023. [2]
However, having an independent position to mitigate risks close to the executive board is a real asset for the company. Although the title of CRO is fairly new, job titles such as CFOs and CEOs also have functions of a CRO. Related positions of a CRO include CEO, CFO, chief risk management officer, [10] Risk Manager and Capital Manager ...
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