2.
What is for me be a CFO?
QUALITY ?
EXTERNAL RELATIONS ?
EXCHANGE SALES ?
BANK ?
RESOURCES MANAGEMENT ? OPERATIONS SUPPORT ?
LCP SUPPORT?
3. The senior manager responsible for overseeing the financial activities of an entire
company. He or she analyzes the company's financial strengths and weaknesses
and suggests plans for improvement.
CFO and …
… Strategic & Financial Planning.
… Financial reporting.
… Cash management.
… Accounting.
CFO
(Chief Financial Officer)
5. 1. Develop structure for annual planning.
2. Monitor and report variances.
3. Accountability.
4. Refine and implement processes.
PLANNING PROCESS
6. 1. Run your business with more control.
2. Budgeted capital expenditures.
3. Adapt to changing conditions.
BUDGETS
7. 1. Monthly and quarterly.
2. Challenge assumptions and performance.
3. Operate conservatively.
4. Overstating financials can only do harm.
MANAGEMENT MEETINGS
8. 1. Mission, Objectives, Strategies.
2. Operations and General Management experience.
3. Well versed in marketing and sales.
4. Work closely with department heads.
5. Trusted advisor to CEO
MISSION
10. 1. Monthly, Quarterly and annual.
2. Understand your financial performance.
3. Income statement, balance sheet, cash flow statement.
4. Careful analysis to guarantee accuracy.
FINANCIAL STATEMENTS
11. 1. Reports should be management tools.
2. Variance vs Budget.
3. Historical Data.
4. Organized by department or function.
INFORMATION THAT IS USEFUL
12. 1. Monitor KPI’s or Metrics.
2. What number drive your business?.
3. Financial dashboard or scorecards.
DASHBOARDS
13. 1. Reporting strategies to minimize taxes.
2. Maintaining a strong balance sheet.
3. Project strength to stakeholders.
COORDINATION WITH CPA
(Cost per action)
14. 1. Others should understand financials.
2. CFO should provide training/guidance.
3. 3rd party services can also provide training.
INVOLVING OTHERS
15. 1. Include others.
2. Identify trends and areas for improvement.
3. Understand your financial performance.
4. Determine changes that are needed.
MONTHLY FINANCIAL REVIEW
17. 1. Forecasts.
2. Dashboards.
3. Weekly, monthly, yearly.
4. Requires a team effort.
5. Head off problems before they arise.
PROACTIVE PLANNING
18. CASH MANAGEMENT
1. Manage your line of credit and debit effectively.
2. Minimize interest payments.
3. Improve profits.
4. Invest in short-term assets.
5. Increase future cash.
19. 1. Insure cash is available when needed.
2. Understand your capital needs and collection cycle.
3. Chart out future inflows and outflows.
WORKING CAPITAL
