ผู้รับผิดชอบสูงสุดสายบัญชีและการเงินที่มีกลยุทธ์

ผู้รับผิดชอบสูงสุดสายบัญชีและการเงินที่มีกลยุทธ์
(Strategic CFO)

First revision: Aug.21, 2019
Last revision: Aug.26, 2019

1. CFO's Roles and Responsibilities
Who is CFO?

The Chief Financial Officer (CFO) is a corporate officer primarily responsible for managing the financial risks of the corporation. This officer is also responsible for financial planning and record-keeping, as well as financial reporting to higher management. (Source: Wikipedia)
The senior manager is responsible for overseeing the financial activities of an entire Company. The CFO's duties include financial planning and monitoring cash flow. (Source: Investopedia)
CFO is the senior-most executive responsible for financial control and planning of a firm or project. (Source: Businessdictionary)

A CFO has to

Understand the operations of the business and how the financial system interrelates with activities.
Understand capital structures and business funding and know-how to manage cash.
Understand business risk - both financial and non-financial, and know-how to mitigate those risks.
Know strategy and be able to see the big picture.
Be able to make decisions.
Understand people and be an effective communicator.

(Source and applied from Ben Paramore, Proformative)

What should CFO look like?

Be an effective organizational leader and a key member of senior management.
Balance the responsibilities of stewardship with a business partnership.
Act as the integrator and navigator for the organization.
Be an effective leader of the finance and accounting function.
Bring professional qualities to the role and the organization.

(Source: The Role and Expectation of a CFO, IFAC (International Federation of Accountants))

Guardian of Resources Protects its human, financial, and physical resources. Minimizing the risk of destruction of facilities. Handle with COSO standard and enterprise risk management. Support audit issues. Incorporate sustainable development.	Town Crier Be an effective communicator to explain complex technical issues in simple and understandable terms. Educate fellow administrators about the institution's financial condition and the benefits of good management practices. Institutional Strategist Drives the strategic planning process. Prove the numbers. First highlights significant financial challenges.
Sheriff Ensure policies are followed and internal control. Play the skeptic among senior administrators (i.e., ask the hard questions in the cabinet.)	Specific Duties Treasury Procurement / purchasing Risk Management IT A web of Relationship

(Source: Lawrence R. Ladd, the Roler, Duties and Ethical Responsibilities of the Chief Financial Officer, National Association of college and university Business Officers.)

Be a master communicator
- Articulate ideas to a range of audiences
- Lead teams, build consensus, motivate people
- Illuminate vision against the challenging
Be an adept translator
- Translate numbers into meaningful information.
- Relay key Leaning to all the operators within a business
Be a thoughtful strategist
- Make a conscious effort to think strategically
- View organization holistically
- Embrace opportunities to work within other departments and business areas
- Understand how the entire company work together

Be a business generalist
- Understand different operating units and understand how the finance function impacts them.
- Seek opportunities beyond financial reporting and tax.
Be transparent
- Lead by example by demonstrating integrity and ethics.
Be informed
- Staying abreast of developments, regulatory and compliance requirements.

Source: parker + Lynch, the evolving role of the CFO.

FINANCIAL & MANAGERIAL ACCOUNTING AT A CROSSROADS

	Financial Accounting	Managerial Accounting
1. Users	External persons who make financial decisions.	Managers who plan for and control an organization.
2. Time focus	Historical perspective	Future emphasis
3. Verifiability versus relevance	Emphasis on verifiability	Focus on relevance for planning and control
4. Precision versus timeliness	Emphasis on precision	Emphasis on timeliness
5. Subject	Primary focus is on the whole organization	Focuses on segments of an organization
6. GAAP	Must follow GAAP and prescribed formats	Need not follow GAAP or any prescribed format
7. Requirement	Mandatory for external reports	Not Mandatory

MANAGERIAL ACCOUNTING

Management accounting is a profession that involves partnering in management decision making. Devising planning, and performance management systems, and providing expertise in financial reporting and control to assist management in the formulation and implementation of an organization's strategy.

(Source: Institute of Management Accountants (IMA) 2008, Statement on Management Accounting, Practice of management Accounting.)

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