CFO

Chief Financial Officer

The traditional role of CFO includes the core responsibilities of financial reporting, capital structure, audit & compliance, corporate portfolio management, planning, treasury, capital allocation and investor relations, as well as communications to the board and management leaders.

In recent decades the Operational CFO has emerged - due to the impact of a global economy, technology advancements and growing difficulty securing/retaining highly skilled talent. The Operational CFO is expected to fulfill traditional CFO duties, as well as provide strategic leadership and involvement in the day-to-day operations of the company, including facilitating organizational accountability/transparency, involvement in IT, manufacturing, logistics, and even sales financing. Our own CFO, John E. Green is a prime example of an effective Operational CFO. His operational experience include helping companies establish cost-effective, well-located facilities overseas - experience he’s applied to helping The ExecRanks establish our new Boise office location.

ADVISORY TOPICS trending for CFOs:

• Revenue Recognition: A new sales channel that’s capturing revenue in both the US and overseas requires "revenue recognition" treatment for both US GAAP (Generally Accepted Accounting Practices) and IFRS (International Financial Reporting Standards), which are important/tricky, particularly with SAAS companies. A CFO would benefit from a Peer-To-Peer Advisory Meeting about how to handle a particular revenue recognition and understand the difference in the requirements for US GAAP and IFRS.

• International Tax: A CFO could use Peer-To-Peer Advisory support with subject matter expertise re: how VAT (Value Added Tax) is handled in certain countries, along with understanding import/export requirements/fees, tax free zones - details that are challenging to figure out and could save a company a lot of money if properly set-up.

• Audit Challenges: A CFO (or the associated Controller who works with the CFO) have Auditors challenging an accounting treatment/methodology or stating they are not in US GAAP or IFRS compliance in a certain area. A Peer-To-Peer Advisory session with a CFO well-versed in these matters could resolve the challenge quickly - versus having to read and learn the Accounting Standards which would delay response to the Auditors.