- Home
- Accounting
- the gratification involved in being a part time cfo
the gratification involved in being a part time cfo
- By Terry Mickelson
- Published 02/9/2010
- Accounting
- Unrated
the gratification involved in being a part time cfo
A company's Chief Financial Officer (CFO) is a C-level executive, who manages all issues of the company's business that concerns finance. He is responsible for financial planning, record keeping and reporting financials to the higher management. Most CFO's are professionally qualified accountants but most companies these days hire people with Master of Business Administration (MBA) degrees. Alternatively, they may also be denoted as the treasurer, the finance director or the financial director. Chief Financial Officers are an essential part of a business no matter how large or small it may be.
On the other hand, a part time CFO is someone who takes up the same responsibilities like that of a full time CFO, but works only part time. Most companies that are either newly established or are low on budget, do not prefer to hire a senior officer like a full time CFO who would demand a whole lot of money as a fee for their services every month. A suitable alternative for such companies is to hire a part time CFO who takes care of the company's finance and who does not prove to be a liability with regards to heavy expenses in the form of bulky pay checks.
The basic qualification of a part time CFO is a college degree in finance and accounting. They also essentially need to have 10 to15 years of on board experience in finance and managing. It is not possible to be a part time CFO if you do not possess a minimum of five years experience as a full time CFO in some company. Experience with software and reporting and strategizing a financial situation is also a prerequisite to offer services as a part time CFO. They must also have acquired skills pertaining to tax planning with advanced knowledge in Excel and other advanced financial programs, along with unflawed judgment and decision making skills.
A part time CFO always works for multiple businesses. So, instead of one bulky pay check from a company offered to a full time Chief Financial Officer, they demand reasonable fees and their multiple source of income makes sure that the total revenue they make is much more than a full time employee of a particular enterprise. In this day and age where there is low job security and a dire need for financial stability with the rising cost of commodities, being part time Chief Financial Officer sounds like one of the solutions to a better standard of living. Also working for multiple establishments ensure that you have complete exposure to all sorts of market and businesses and helps you build a trust filled relationship and create a high reputation in the corporate world, on a much wider scale than a full time CFO.
The part time Chief Financial Officer has responsibilities of teaching the other staff to manage the company finances and make them understand their role; in doing so the CFO gains a lot of fulfillment and satisfaction once they are appreciated for their knowledge, wisdom, expertise and skill. The part time CFO holds a very significant position in the company which is observed in company meetings where people belonging to the higher management may rely on the part time CFO's point of views on improving the company's financial standing by comparing it with the strategies used by other companies that the Chief Financial Officer works for. They also enjoy more flexibility in terms of scheduling their work according to their convenience.
On the other hand, a part time CFO is someone who takes up the same responsibilities like that of a full time CFO, but works only part time. Most companies that are either newly established or are low on budget, do not prefer to hire a senior officer like a full time CFO who would demand a whole lot of money as a fee for their services every month. A suitable alternative for such companies is to hire a part time CFO who takes care of the company's finance and who does not prove to be a liability with regards to heavy expenses in the form of bulky pay checks.
The basic qualification of a part time CFO is a college degree in finance and accounting. They also essentially need to have 10 to15 years of on board experience in finance and managing. It is not possible to be a part time CFO if you do not possess a minimum of five years experience as a full time CFO in some company. Experience with software and reporting and strategizing a financial situation is also a prerequisite to offer services as a part time CFO. They must also have acquired skills pertaining to tax planning with advanced knowledge in Excel and other advanced financial programs, along with unflawed judgment and decision making skills.
A part time CFO always works for multiple businesses. So, instead of one bulky pay check from a company offered to a full time Chief Financial Officer, they demand reasonable fees and their multiple source of income makes sure that the total revenue they make is much more than a full time employee of a particular enterprise. In this day and age where there is low job security and a dire need for financial stability with the rising cost of commodities, being part time Chief Financial Officer sounds like one of the solutions to a better standard of living. Also working for multiple establishments ensure that you have complete exposure to all sorts of market and businesses and helps you build a trust filled relationship and create a high reputation in the corporate world, on a much wider scale than a full time CFO.
The part time Chief Financial Officer has responsibilities of teaching the other staff to manage the company finances and make them understand their role; in doing so the CFO gains a lot of fulfillment and satisfaction once they are appreciated for their knowledge, wisdom, expertise and skill. The part time CFO holds a very significant position in the company which is observed in company meetings where people belonging to the higher management may rely on the part time CFO's point of views on improving the company's financial standing by comparing it with the strategies used by other companies that the Chief Financial Officer works for. They also enjoy more flexibility in terms of scheduling their work according to their convenience.
Terry Mickelson
Terry Mickelson works with B2CFO, USA's largest CFO firm. A part time CFO works with the business owner to create financial and goal clarity. For more information about about B2CFO visit http://www.b2bcfo.com/part-time-cfo/part-time-cfo/ or call (602)296.6888.
Distributed by Content Crooner
