Roles can be misleading. More often than not, they are nothing more than a word that organizes where certain people sit in an office. Take for instance, the role of a CFO. Many consider the CFO as the most glorified accountant of a company, the firm’s money manager, but in reality, they are the secret to a company’s success. Bruce Besanko, the CFO of OfficeMax points this out when he stated that “as CFO, I’m in a unique position within the organization, at the absolute center of the universe. The only other executive besides me that has that same presence at the center is the CEO.”1
Of course a CFOs traditional role, namely, overseeing taxes, budgeting, accounting, financial planning, and analysis, is critical to the success of any company. When businesses fail to manage these areas they end up failing in general. However, the CFO’s role is evolving into a more robust position that is critical to every facet of a business. Read more
Whenever people think of successful companies, their initial thoughts typical go to the businesses offering then they move onto the leadership of the CEO. Great CEOs like Steve Jobs and Mark Zuckerberg are, or course, invaluable keys to success, but that doesn’t mean we should ever overlook the second most important role—The CFO.
CFO’s do the behind the scenes heavy lifting that sustains businesses and moves them from being good to being great. Here’s an account from one our CFOs that shows this priceless value of good financial oversight. Read more
By Tyler Garrett, executive assistant to Randy Russon, founder of TOP CFOS
CEOs have a lot on their plate, from managing a business to developing a vision for future growth. Being fully aware of the company’s financials is another item of interest for CEOs, and analyzing those financials is even more important. In fact, companies should perform regular financial analyses because they lead to so many important questions. Critical questions that can be asked after doing a financial analysis include: