What is a CFO?
At BSP we believe that every business needs a CFO and we strive to make it affordable. Here are some insights as to what a CFO does and why you need one.
A CFO is responsible for reporting accurate and timely historical financial information for their company. The accuracy of this information is of great importance to every stakeholder in the company.
The CFO is also accountable for the company’s current financial condition. They are integral in the decisions on how to invest the company's money. When making these decisions, they must take into account risk of the investment and the company’s liquidity. Additionally, the CFO oversees the company’s capital structure. They are responsible for determining the best combination of debt, equity and internal financing. This is one of the most important responsibilities of a CFO.
A CFO is not only responsible for a company's past and present financial situation, but they are also responsible for the company's financial future. A CFO is responsible for forecasting the company’s financial future. They must also be able to identify those areas of the company that are running most efficiently and determine how to capitalize on those efficiencies for the future.
We have only scratched the surface of the many things a BSP CFO is responsible for. One thing is certain, BSP can provide this financial leadership to your business for a fraction of what a traditional CFO would cost. Let us provide you the tools you need to take your business to the next level. Your business deserves it.
