A Chief Financial Officer or CFO is one of the most respected and high-paying job designations across the globe. Depending on the kind and level of the organization the professional is employed with, the pay-cheques get fat and the designation gets powerful. The following post will the outlining a complete career chat that will help you become a chief financial officer or CFO after college and of course, the best partner for this intent and purpose. Before we venture into the career path for becoming a CFO, let us understand the job roles, responsibilities, career opportunities and various other crucial integrals of the job.
Chief Financial Officer – Qualifications, Job Roles and Responsibilities and Other Important Information:
- In every organization, the Chief Financial Officer is the highest officer to make decisions related to the finances and accounting and provide impeccable leadership assistance at all times.
- The various departments that are under the control and administration of a Chief Financial Officer comprise of a myriad such as pricing, purchasing, tax, debt, accounts payable and the investments.
- All the transactions in all these departments and maintaining a perfectly synchronized record of them at all times; ensuring that all the audits and finance allocation and management is done without any error and malicious intent that might be harmful to the organization is one of the implied responsibilities of the job profile.
- Further, with times changing and every office becoming compliant with the international standards and technological advancements, the Chief Financial Officer will also manage the online books; accounts; databases; external and internal audit records and presentation of classified and perfectly recorded information to the upper management.
- Thus, the Accounting Courses for becoming a CFO are becoming highly popular are predicted to be in the Top Game for a long time ahead.
- Major Tasks handled by a CFO are:
- Internal Audit completion and classification of information in an intelligent manner to reveal patterns and other such derived information
- Financial Compliance Management
- Market Forecast and Expenditure management and reporting
- Management of all kinds of finances across the whole company
- Recording all the financial transaction across the whole company
- The various divisions and categories of specialization for the Chief Financial Officer are as follows:
- Managerial Finance
- Financial Innovation
- Financial Corporate Strategy
- Operations Manager
- Director of Operations
- Business Manager
- Director of Administration
- General Manager
- Finance Manager
Apart from being appointed as the Chief Financial Officer, the CFO is also a member of the Board of Directors and can also choose to go for various other roles such as People Management, Resource Management and other such profiles that require a perfect understanding and balance of theoretical knowledge and leadership.
Well, having had a good grasp of the various roles and responsibilities of a Chief Financial Officer, let us understand the Accounting Courses and Chief Financial Officer Courses or Qualifications that you are required to acquire and complete in order to become one.
Chief Financial Officer Qualifications – Education and Courses Required:
- Masters Degree in Tax, Accounting, Auditing, Finance and Investing
- Several years’ work experience as an on-hand expert
- Certified Public Accountant (CPA) might be or might not be compulsory
- A thorough knowledge and understanding of various key areas such as Financial Accounting, Computer Information Systems, Corporate Financial Reporting, Auditing, Applied Statistics and Business Taxes.
- Apart from the one-time course, the CFOs are urged to grow and learn consistently and join the CFO Alliance or the US Chief Financial Officers Council or the American Society of Association Executives or other such global platforms to be on the top at all times.
- A general career path to become a Chief Financial Officer would be to acquire a graduation degree in Management or Accounting. First, you have to Learn Accounting and then specialize in the various Accounting Courses such as CA. As CFO requires to be expert at perfect management of Accounts and Finances in an organization and is a crucial member of the major administration, just one specialization is not enough.
- Hence, opting for a Global Certification or Qualification such as ACCA is a must. It equips you with the best knowledge and the qualification to run the high office and become a pioneer that excels.
To know more about ACCA and to start your career as the CFO, please log on to www.logiccpacma.com.