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Saturday, November 6, 2010

It is the question – “If you are made the CFO (Chief Financial Officer) of a Company what would you consider to be the KRAs (Key Result Areas) of your job?” It is the next solved assignment question of SMU MBA MB0036 of Strategic Management & Business Policy. You should take a look of List and explain the objectives of a Bankruptcy Law and A Business Continuity Plan is a Disaster Management Plan.

The CFO (Chief Financial Officer) is fervently hated by the workers. He is thoroughly despised by other managers, mostly for scrutinizing their expense accounts. He is dreaded by the owners of the firm because his powers that often outweigh theirs. Shareholders hold him responsible I annual meetings.

The job of the Chief Financial Officer is composed of many elements here is a universal job description which is common throughout the West.

The Chief Financial Officer is subordinated to the Chief Executive Officer, answers to him and regularly reports to him.

To regulate, supervise and implement a timely, full and accurate set of accounting books of the firm reflecting all its activities in a manner commensurate with the relevant legislation and regulation in the territories of operation of the firm and subject to internal guidelines set from time to time by the Board of Directors of the firm.

To implement continuous financial audit and control systems to monitor the performance of the firm, its flow of funds, the adherence to the budget, the expenditures, the income, the cost of sales and other budgetary items.

To timely, regularly and duly prepare and present to the Board of Directors financial statements and reports as required by all pertinent laws and regulations in the territories of the operations of the firm and as deemed necessary and demanded from time to time by the Board of Directors of the Firm.

To comply with all reporting, accounting and audit requirements imposed by the capital markets or regulatory bodies of capital markets in which the securities of the firm are traded or are about to be traded or otherwise listed.

To prepare and present for the approval of the Board of Directors an annual budget, other budgets, financial plans, business plans feasibility studies, investment memoranda and all other financial and business documents as may be required from time to time by the Board of Directors of firm.

To maintain a working relationship and to develop additional relationships with banks, financial institutions and capital markets with the aim of securing the funds necessary for the operations of the firm, the attainment of its development plans and its investments.

To alert the Board of Directors and to warn it regarding any irregularity, lack of compliance, lack of adherence, lacunas and problems whether actual or potential concerning the financial systems, the financial operations, the financing plans, the accounting, the audits, the budgets and any other matter of a financial nature or which could or does have a financial implication.

To collaborate and co-ordinate the activities of outside suppliers of financial services hired or contracted by the firm, including accounts, auditors, financial consultants, underwriters and brokers, the banking system and other financial venues.


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