When you have a finance background and are already working in accountancy and finance, your final goal might well be to become a Chief Financial Officer (CFO). But what does a CFO do and what skills and experience do you must grow to be one?

Who is a Chief Financial Officer?
CFOs oversee all of the financial operations of an organisation, together with accounting, financial reporting, tax, enterprise management and treasury. They manage all points of monetary issues and decision making.

What does a Chief Financial Officer do?
The Chief Monetary Officer directs an organization's financial goals, aims and budgets. Should you work as a CFO, you oversee the investment of funds held by the company and assess and manage associated risks. You additionally supervise cash management activities, execute capital-elevating strategies to support a firm's expansion, and deal with mergers and acquisitions. Most CFOs are also chargeable for managing the corporate investments and will sit on the board.

For those who work as a Chief Monetary Officer in a smaller company, you could be anticipated to carry out a range of accounting tasks, while executives at bigger companies typically assessment reports and data from numerous divisions within their companies.

Training and training wanted
As with all ‘Chief’-level executive positions, you will want several years of expertise at a senior administration level as well as a degree in accounting, finance, economics, business or a associated subject. Many CFOs begin their careers as finance professionals, external auditors (Big 4), accountants or managers of small divisions, and work their way as much as senior positions within a company.

The number of years of administration expertise you will need will rely on the size of the company and the extent of the duties involved. Many Chief Financial Officers have an MBA, a Masters or one other type of advanced degree.

Skills wanted
If you're willing to develop into a profitable CFO you will have to demonstrate more than just excellent finance skills. You have to have the ability to make smart and strategic choices on behalf of the organisation, and try to be able to look holistically at the firm and understand what it needs.

Importantly, you also needs to be able to translate monetary data into helpful information for these across all levels of an organisation. Leadership, interpersonal and communication skills are additionally vital in such a high level position.

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