Even when there are differences per organization and business structures, CFO leads monetary affairs alongside with IT, Law, Risk Management, Direct-Indirect Buying and Human Resources departments and performs an efficient position in strategic management and planning by specializing in company sustainability. Basically, CFO has three different heads. These are execution, supervision, and counseling. We can explain execution position as providing security of financial charts and managing the money that is the vital level of a company in an optimum way. Supervision duty contains; controlling the expenses of some departments to see if these are used up according to determined rules and auditing operational processes by a deliberate and unplanned way to avoid corruption possibilities. And for counseling duty, we are able to exemplify issuing opinions particularly to the Board, CEO and all different managers about customer-supplier business partners, new enterprise areas and products, incentives, company and department performances. CFO is the eye of the Board in the company and reliable enterprise consultant of CEO with all these attributes.

Help of the Board and CEO could be very critical

Help of the Board and CEO is probably the most importing thing for CFO to fulfill all these duties and responsibilities in a proper way. Because most of the assignments that sound nice and asked to be finished, can’t be carried out attributable to lack of assist on inter corporate conflicts and other reasons. We can type the side effects of this kind of negative situations as an increase in company risks and miss the opportunities.

How CFO’s can determine priorities?

And this question is crucial subject that CFO ought to pay attention to scientific and structural approach and perhaps is competence within the dedication of a profitable-unsuccessful CFO. It’s not a really rational habits to anticipate managing all these mentioned completely different experience areas and subjects by one individual under regular circumstances until CFO determines the proper priority and use the cash source and workforce of the company in a correct way. S/he can still manage his profession in a proper way and, in reality, s/he can still enjoy it. These duties handled by him/her are divided into 4 groups in accordance with importance and urgency, and CFO should distribute these non-stop tasks in a correct way.

Urgent and vital subjects

Urgent but unimportant topics

Non-urgent but vital subjects

Non-urgent and unimportant topics

CFO’s certainly give primacy to “urgent and essential subjects” and will never work on “non-urgent and unimportant” subjects. But the level that makes the difference in that is the time s/he spares time for “non-urgent however important subjects.” The quintessence for this one can be; observing the personal and professional development of the employees from the bottom to the highest level that is managed by her/him and contribute in individual if possible. Even when this duty is severe and long-termed, the return of it is high. Because the more s/he has a better and an outfitted staff, the more they will fulfill the advanced duties and responsibilities which can be provided.

Lesson: CFO should determine the priority in a proper way and will put money into the well-chosen team. In any other case, the occupation that CFO do would possibly become one of the riskiest profession.

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