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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.
In accordance with the CFO Act, each agency or department vests its financial management functions in its chief financial officer. The following is a list of the 24 affected agencies, which includes all 15 federal executive departments whose heads are included in the Cabinet of the United States , as well as other large agencies: [ 1 ]
They may be referred to as bookkeepers, accountants, junior accountants, staff accountants, senior accountants, or accounting supervisors, depending on their level in the management duties and their position in the corporate hierarchy. An accountant is a generic term which can refer to any of the below classifications.
The word is a variant of "controller". The "cont-" or "count-" part in that word was associated with "compt-", a variant of the verb "count". The term, though criticized by lexicographers such as Henry Watson Fowler, [1] is probably retained in part because in official titles it was deemed useful to have the title dissociated from the word and concept "control".
The definition varies; for instance, the California Corporate Disclosure Act defines "executive officers" as the five most highly compensated officers not also sitting on the board of directors. In the case of a sole proprietorship , an executive officer is the sole proprietor.
Corporate titles or business titles are given to corporate officers to show what duties and responsibilities they have in the organization. Such titles are used by publicly and privately held for-profit corporations, cooperatives, non-profit organizations, educational institutions, partnerships, and sole proprietorships that also confer corporate titles.
CFO – Chief Financial Officer; CFS – Consolidated Financial Statement; CIA – Certified Internal Auditor; CIF – Cost Insurance With Freight; CIMA – Chartered Institute of Management Accountants; CIO – Chief Information Officer, Chief Innovation Officer or Chief Investment Officer; CIP – Carriage and Insurance Paid
The definition varies; for instance, the California Corporate Disclosure Act defines "executive officers" as the five most highly compensated officers not also sitting on the board of directors. In many insurance policies, executive officer means, in the case of a corporation, any chairman, chief executive officer, chief financial officer ...