How to Be a Good CFO

How to Be a Good CFO

Running a big corporation requires proper management of its finances, revenue structure and cash budgeting. Most companies don’t understand the importance of having a good CFO until and unless they realize all the accounting mess that suddenly pops up at the end of a fiscal year.

These days many companies have a designated C-Level Manager Position for financial operations of the company and they call it the CFO. Being a good CFO can really make a big difference in the company’s brand image because every single operation in a company requires funds. If you are able to manage these funds on daily basis, you can really decide on where you want to spend and boost your brand image.

Based on a recent study a good CFO should have some qualities that make him the best. The first and foremost is financial literacy. This point is really important because a CFO without financial literacy is damaging to any company. Make sure that you know what the current market looks like and where the investment pool is.

Read up on the latest financial books to keep you up to date with the finance market. Another important quality to have is to believe in top and bottom growth of the company. This will make sure that even the lowest paid person in your company is still motivated to work for you and doesn’t feel neglected, and the high level employees constantly strive to make sure that your company generates more revenue.

A CFO should also have an unquestionable integrity. The importance of this cannot be stressed as the CFO is in charge of all the cash flow in the company. Hence, make sure that you have set up proper channels to manage your company’s cash flow. Having high integrity will surely make sure that your brand is respected in the market.

Posted by James Wells 2/15/15

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