CFO Full Form | What is the Full Form of CFO

Chief Financial Officer

CFO stands for Chief financial officer.
It is the designation of a senior finance manager in a company who monitors and manages all financial activities in a company.
He's the head of finance and accounting department and is responsible for financial and risk management operations of the company.
Generally, rich experience in finance or related fields together with an education background in finance, business or similar field is required to become a CFO.
CFO reports to the Chief executive officer (CEO) and board of directors. A finance manager must have a management degree or strong accounting background to be promoted to the position of CFO.
Some of the key responsibilities of a CFO:

Plan and execute the financial strategy of the company
Verifying the financial statements
Overseeing the capital structure and financial operations
Financial reporting to CEO
Planning financial and tax strategies
Reporting financial information to the board of directors
Managing accounting, legal, tax, investor relations and treasury departments
Analyze the financial strengths and weaknesses of company and suggest corrective actions accordingly.

Eligibility criteria to become CFO

Many big enterprises cfos have professional credentials like an MBA (Master in Business Administration), a Master of Science in Finance or Accounting, or a certified Public Accountant with an accounting background or CFA.
A finance unit usually includes professional accountants like Certified Public Accountant, CA (Chartered Accountant), Chartered Certified Accountant & Certified Management Accountant.

This is not limited to maintaining the accounts or reviewing the financial numbers. Instead, over the past years, the chief financial officer’s role has diversified, and a CFO is expected to utilize his financial knowledge and knowledge to drive the company towards growth and success. As a result, this can be seen playing the following roles during a company.
Planning strategies for the growth of the company by making important and relevant financial decisions. The decisions should be in line with the long-term goals of the company.
Acting as a leader and taking ownership of the company’s financial results and planning the future course of action.
Identifying the strengths of the team and utilizing those strengths for the higher financial performance of the company.
Being the face of the company for dealings with the banks, investors, customers, and suppliers as chief financial officers is one of the company’s senior-most persons.