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A Practical Guide for the New CFO

CFO Talks

The CFO must review existing controls, identify any gaps, and implement improvements to safeguard the company’s assets and ensure accurate financial reporting. Understand and Mitigate Risks: A CFO must have a comprehensive understanding of the various risks the company faces, including operational, financial, and strategic risks.

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From Controller to CFO: What Changes?

CFO Talks

Key Differences in Everyday Tasks: Reporting: The Controller prepares financial reports; the CFO reviews these reports and uses them to make decisions or plan strategies. Financial Reporting and Management: The Controller is entrusted with maintaining the chart of accounts and overseeing outsourced functions.

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What is Financial Planning and Analysis (FP&A)?

Spreadym

This includes analyzing revenue and expense trends, profitability, cost drivers, key performance indicators (KPIs), and financial ratios. Financial Modeling: FP&A professionals utilize financial modeling techniques to create dynamic and scenario-based financial models.

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The 5 Best Corporate Performance Management Software

Spreadym

Budgeting and Forecasting: CPM involves the creation of budgets and financial forecasts that align with the strategic plan. These budgets help in allocating resources and setting financial targets to support the organization's goals. This includes assessing financial risks, market risks, and operational risks.

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