Learn 5 Business Growth Strategies
Episode 18: CFO’s are a thinking partner to a CFO–not an accountant.
The #AskaCFO series is a weekly Q & A with CFO James Vanreusel. James answers questions ranging from corporate finance, FP& A, Investor Relations, Professional Development, Business Growth, Fundraising, M& A, and more
Just like in other parts of a business (Marketing, Sales, People Ops), each department has someone “in charge.” Someone asking the tough questions, making the hard decision, approving changes, and mitigating risks. When a finance department of a growing business doesn’t have someone protecting the financial health of the company, the business will struggle to grow.
CFO’s act as the head of the Finance and Accounting department. They will fully understand the principles of accounting and bookkeeping but are not accountants. The CFO is the one who focuses on the big picture items, the big deals, M & A, fraud risk management, fundraising, strategic hiring, audits, and more. CFO’s act as a thinking partner to the CEO, the head of the Finance department, a mentor to the team, quarterback and guardian.
They will guide the finance team through the gears, keep a tight reign on all finance functions, move the company toward financial growth, and support the CEO through massive business decisions.
An excellent accounting team is crucial but does not take the place of a CFO, and a CFO does not take the place of an accounting team.
P.S ASK A CFO was recently listed as #3 on the "Top 15 Corporate Finance Podcasts To Follow in 2021 (feedspot.com)" Thank you to feedspot.com for helping us make that happen, and to everyone who supported our show.
Learn 5 Business Growth Strategies
Episode 18: CFO’s are a thinking partner to a CFO–not an accountant.
The #AskaCFO series is a weekly Q & A with CFO James Vanreusel. James answers questions ranging from corporate finance, FP& A, Investor Relations, Professional Development, Business Growth, Fundraising, M& A, and more
Just like in other parts of a business (Marketing, Sales, People Ops), each department has someone “in charge.” Someone asking the tough questions, making the hard decision, approving changes, and mitigating risks. When a finance department of a growing business doesn’t have someone protecting the financial health of the company, the business will struggle to grow.
CFO’s act as the head of the Finance and Accounting department. They will fully understand the principles of accounting and bookkeeping but are not accountants. The CFO is the one who focuses on the big picture items, the big deals, M & A, fraud risk management, fundraising, strategic hiring, audits, and more. CFO’s act as a thinking partner to the CEO, the head of the Finance department, a mentor to the team, quarterback and guardian.
They will guide the finance team through the gears, keep a tight reign on all finance functions, move the company toward financial growth, and support the CEO through massive business decisions.
An excellent accounting team is crucial but does not take the place of a CFO, and a CFO does not take the place of an accounting team.
P.S ASK A CFO was recently listed as #3 on the "Top 15 Corporate Finance Podcasts To Follow in 2021 (feedspot.com)" Thank you to feedspot.com for helping us make that happen, and to everyone who supported our show.