Tuesday, December 10, 2013

I have a Title...Now What do I do with it?

Chief Financial Officer:

As we were continuing the process of building this new business, there were certain lines we had to fill in with information. 

Our Office Manager said that she was putting Jonathan down as CEO of the company, and asked if that was alright.  Of course it is alright as that is what he is.   Currently, he is CEO, Chief Transportation Manager,  Head of the Mechanics division and several other things. 

As Office Manager, Suzanne handles all billing, all bidding, and most things in between. 

I,  have struggled with finding "my place"  in all of this.  As far as this business is concerned, I have told people who asked that I sit around looking pretty, oh, and sign checks. 

But today, the questions on this form continued needing specific answers.  Suzanne asked, "Who should I put down as CFO.. and what IS CFO?   The answer?..... ME!!  Well, yes, I sign most of the checks around here to pay the bills so sure, call me that. 

But that got me to thinking, what IS a CFO?  The easy answer is Chief Financial Officer.  That lead me to beg the question, what does a CFO even DO?   My uncle, I believe is CFO of a banking company in Texas.  You see people on news programs and such labeled CFO.  Still, that really doesn't answer the question, so that is leading me on another search.  

So far this is what the internet has told me.  " Want to be a chief financial officer? Business experts and CFOs themselves say your first priority is to become a business strategist. You have to move from an accounting focus to see the borders of the big picture—and beyond. You have to understand all aspects of your business, from the sales goals to the marketing plan to your company’s position in the marketplace through to the strategic plan. You have to be familiar with distribution channels, public relations and all other functional silos. You have to understand the latest technology and be able to share your IT savvy with your colleagues. In other words, “You can’t rely on just knowing the ABCs of accounting,” explains Diane Albergo, manager of member career services at the Financial Executives Institute (FEI), a membership organization for CFOs and senior financial executives in Morristown, New Jersey. “You need a strong business sense.” "   (Taken from the Journal of Accountancy.com)

Oh boy do I have a LOT to learn.   Again.

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