CFO (Chief Financial Officer)
CFO is the abbreviation for Chief Financial Officer and is equivalent in Germany, for example, to the head of the finance and accounting department. In Germany, the term CFO is only to be understood as a job title and has no legal meaning.
A CFO is part of the management level of a company and is responsible for the finances. Their tasks are therefore:
- Management of funds
- Signing off checks
- Financial and liquidity control
- Accounting including planning, management & control
- Budget management for individual departments
- Decisions & recommendations must be communicated to management
- Relationships with external lenders & other institutions of financial importance to the company
