The Role of a Chief Financial Officer (CFO)
What is a common responsibility of a Chief Financial Officer (CFO)?
a. supervising a target market analysis b. to identify potential customers c. supervising the day-to-day operational functions of the company d. supervising the recordkeeping and budgeting for a company
Final answer:
The Chief Financial Officer (CFO)'s responsibility amongst the given options is d. supervising the recordkeeping and budgeting for a company. The CFO tracks and manages the financial actions of a company.
Explanation:
The responsibility of the Chief Financial Officer (CFO) amongst the options provided is d. supervising the recordkeeping and budgeting for a company. The CFO is primarily responsible for managing the financial actions of a company. This includes tracking cash flow, analyzing the company's financial strengths and weaknesses, and proposing corrective actions. This role is different from other executive roles in a company such as supervising a target market analysis or identifying potential customers, which fall under the auspices of marketing or sales departments.
For example, just as the Federal Reserve supervises financial institutions, including bank holding companies, the CFO supervises the financial operations of a company.