Question

What are two of the important responsibilities of the:

(a) CFO?

(b) Treasurer?

(c) Controller?

(d) How important is it that financial managers perform their tasks efficiently?

Answer 1

Responsibilities of

CFO:

1) To overview overall financial position of the firm

2) To fulfill reporting requirements

Treasurer:

1) To manage funds for the firm

2) To maximize interest income and minimize borrowing cost

Controller:

1) To maintain proper accounting records

2) To built controls which prevent frauds or any potentials frauds

Financial managers:

1) To execute budgeting and planning

2) To give right project information to management for making correct decision

Financial managers hold key role in project planning and budgeting for the firm they are expected to provide appropriate information related to project based on financial information of the firm. If financial managers perform their task efficiently then it benefits overall organization.