Key Financial Players In The Organization

1. The CEO

A chief executive officer (CEO) is the highest-ranking executive in a company. Broadly

speaking, a chief executive officer’s primary responsibilities include making major corporate
decisions, managing the overall operations and resources of a company, acting as the main point
of communication between the board of directors and corporate operations. In many cases, the
chief executive officer serves as the public face of the company.

2. The CFO

The top financial manager of your company is the chief financial officer [CFO]. Sometimes
referred to as the vice president of finance, he reports directly to the president or chief executive
officer, or CEO, who in turn reports to the board of directors and its chairman.

CFOs are a company’s second most important figure, just behind the CEO. That’s by virtue of
the fact that they, like CEOs, have a true corporate-wide perspective. After all, CFOs oversee a
company’s finances and there isn’t a single department in a firm that isn’t affected by finances.
 3. The Treasurer

The treasurer’s job is to raise, spend, invest, and manage the company’s assets. For instance, the
treasurer oversees how the company:

I. Obtains financing
All companies, regardless of their size, require financing at some point. The treasurer
determines the capital needs of the company in the short, intermediate, and long term.

II. Manages cash

Cash is a company’s most precious asset. So, the treasurer is responsible for making
sure that there’s enough cash in the company’s accounts at all times to meet the firm’s
obligations, such as payroll and taxes.

1. The controller

The controller is the chief accountant for the company. His specific duties include:

I. Selecting the firm’s accounting methods.

That means they gravitate to those methods that make their assets, sales, and earnings seem larger
while making their liabilities, expenses, and tax obligations seem smaller. It is the controller’s
job to determine which methods of accounting serve the best interests of the firm while remaining
within the boundaries of acceptable practices.

II. Financial accounting

Financial accounting refers to the periodic assessment of a company’s “big picture.” It involves
gathering financial data used to compile a company’s balance sheet, income statement, and cash
flow statement.

III. Managerial accounting.

To make day-to-day decisions on how to manage cash, credit, inventories, liabilities and
expenses, companies often need to see the “little picture,” too. In addition to information found
on the balance sheet, income statement, and cash flow statement, they need to know how specific
assets and divisions are performing on a perpetual basis.