- You are here:
- Home »
- Blog »
- Site News »
- Role of CFO
Role of CFO
The CFO’s scope responsibility has evolved from bean counter and oversight to the “strategic advisor”, as accounting itself evolves from collecting, validating and reporting data to providing and supporting analysis for decision making.
both financial and non-financial key performance indicators, e.g. churn rate of telecom companies.
An exterme case is Amazon on now they use predictable analysis by using algorithms bsaed on customer shopping patterns, ratings to suggest to customers items they would likely be interested.
Also, at the operational level, Amazon uses weather climate models for more efficient shipping.
But need a team to start asking intelligent questions.
It’s progressive for the accounting function to provide marketing and sales with a reliable and accurate picture of which custoems are more profitable and which are less profitable.
About the Author Stephanie
I am the author of How to Pass The CPA Exam (published by Wiley), and I also passed all 4 sections of the CPA Exam on my first try. Additionally, I have led webinars, such as for the Institute of Management Accountants, authored featured articles on websites like Going Concern and AccountingWeb, and I'm also the CFO for the charity New Sight. Finally, I have created other accounting certification websites to help mentor non-CPA candidates. I have already mentored thousands of CPA, CMA, CIA, EA, and CFA candidates, and I can help you too!