Public Thoughts From a CFO Mind - Celia Powell

Celia Powell - "By the Numbers"

Public thoughts from a CFO
 ‌
Introduction‌ ‌
Today’s‌ ‌conversation‌ ‌is‌ ‌all‌ ‌about the CFO and what should be top of mind for him/her.‌ CFOs have always needed to be expert multi-taskers. Traditionally, they’ve been responsible for internal controls, compliance, and closing the books accurately and quickly. In today's show we will examine the role of the CFO and what should they be thinking about as the finance lead of a business. ‌

Show‌ ‌Objectives‌ ‌-‌ ‌The‌ ‌Why‌ ‌
Our business needs to grow, and it’s very important for a business owner to know the greatest concern from a CFO, and what should be prioritized. The CFO, is more than a number cruncher, as the co-pilot to the CEO, CFO helps set the financial direction of the business. The role becomes the financial interpreter  of the business’ mission and vision, a translator, a strategist, a solution provider. Beginning with this episode and throughout season 4, we will peek into the thoughts of a CFO, unpack various aspects of the business environment and examine how the CFO responds to the financial needs of the business.

Key‌ ‌Issues‌ ‌-‌ ‌​Owner/Manager‌ ‌Perspective:‌ ‌
CFO often are tasked with the most difficult balancing act. They are asked to be detail-oriented experts in everything from accounting to information technology, while, at the same time, they are expected to generate a strategic vision at the highest level for a company’s financial path forward. With the advent of COVID-19, CFOs need to be on top of a host of regulatory changes, managing economic upheavals and dealing with new technologies designed to provide a more accurate picture of where a business’ finances stand. ‌

What‌ ‌You‌ ‌Need‌ ‌to‌ ‌Do‌​‌ ‌-‌ ‌‌The‌ ‌How‌ ‌
As the business owner/entrepreneur, you are tasked with filling many roles and have multi-skilled. You may keep the books or hire it out to a contractor, as you grow your business, you are starting to see growth at a fast rate, the success you have been working hard for has arrived! It arrived with you needing more money, financing and now you have reached the point that you need a CFO! Here are things to consider:
 
    Cons

• The salary or compensation may be more than what the CEO/Business earns
• The lost of control or authority in managing the business finances

    Pros

• Strong analytical skills
• Objective and logical approach to problem solving
• Detail oriented

​Article‌ ‌link:‌ ‌ ‌
https://www.inc.com/oracle-netsuite/the-critical-role-of-the-cfo.html?cid=search

https://www.inc.com/magazine/20040201/finance.html ‌
https://cfo.economictimes.indiatimes.com/news/empathy-should-be-on-top-of-cfos-mind-in-2021/80067564
Shows‌ ‌

Previous:‌ ‌ ‌‌‌IT’S A WRAP, SEASON 3 SUMMARY‌ ‌
Upcoming: WHO CALLS THE SHOTS? SEASON‌ ‌4
 
Written‌ ‌by‌ ‌Celia‌ ‌L.‌ ‌Powell‌ ‌CPA‌ ‌
 
 ‌Celiapowellcpa@gmail.com
Facebook‌ ‌@celiapowellcpa
Instagram‌ ‌@celiapowellcpa ‌
 

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