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Financial Management: The Job Of The Chief Financial Officer This is the job of the Chief Financial Officer, the CFO, of a fully featured company. Some of the functions outlined are only applicable to certain companies. For example, those responsibilities having to do with public reporting are not a concern to privately owned companies. Those having to do with IPOs and equity financing are not an issue for a well capitalized company, whether public or privately owned. The higher the activity appears on the triangle, the greater the expertise, and the less time, needed to perform it successfully. For example, managing bank debt financing (near the top) requires considerably more expertise, but probably much less time, than cost accounting or payroll, both near the bottom. More importantly, the higher an activity is on the triangle, the greater the risk to the company of costly mistakes, which frequently occur when such activities are assigned to a lower level employee who may be loyal and hardworking, but simply outside their area of expertise. 
All too often these critical issues are left to those who carry the nominal title, without regard to how well they understand what must be done, and how critical it is to get it right. The chart at left illustrates the relative expertise of the typical financial department employee at each level. The gradual progression from clerical level to controller and then the wide gap to CFO is no accident. Rather it results from a foundation of experience that extends far beyond good accounting and monthly financial statements. If these concerns strike a familiar chord and you are unsure how to proceed, you should consider seeking expert assistance. The number is (310) 823-4752.
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