Mr. John Doe the ASCIANO Executive Leadership Team as Chief Financial Officer on 18 February 2013 replacing Mr. Miguel Jose.
Chief Financial Officer (CFO) of ASCIANO LIMITED Company is most important role to run the company he/she work in the company as member of executive team. CFO is a business partner of CEO in the company and CFO has responsibility to provide an accurate report which based on present time and historical financial information of the company. CFO provides the critical financial and operational information to the CEO in the board of directors meeting and according to his/her company takes present and future financial decisions. He/she assess performance of the company beside equally the annual budget and company’s long-term strategy. He/she also engage the issues of board finance, company audit and investment committees issues.
The stakeholders in the company, such as shareholder, analysts, employees, management, creditors, supplier and other members are relies on the accurate and timeliness of the information which is provided by CFO financial report.
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The objective of financial reporting/statements is to provide information about the reporting entity’s financial performance and financial position that is useful to a wide range of users for assessing the stewardship of the entity’s management and for making economic decisions.
Role: As the newly hired CFO for Telco Corporation, a private Canadian company, it is my goal to rectify accounting instabilities, recommend policies, and disclose financial requirements. I will provide a recommendation that will fit the constraints and will correspond with the owner’s objectives for the business.
external and focus on moneymaking. The responsibilities and decisions of a chief executive officer may seem daunting, how...
The oversight responsibilities of the board, the CAE lacking of expertise or broad understanding of financial controls and responsibilities, and the understaffed internal audit functions lacking of independence and direct access to the board of directors contributed to the absence of internal controls. To begin with, the board should be retrained to achieve financial literacy to review financial reporting. Other than attending formal meetings, the board of directors should be more involved with the management. For the Audit Committee, the two members who were recruited as acquaintances to Brennahan need be replaced with experts who are more sufficiently knowledgeable about accounting rules beyond merely “financially literate”. Furthermore, the internal audit functions need to expand with different expertise commensurate with the expanded activities of the organization, testing financial reporting rather than internal controls from an operational perspective. The CAE should be more independent and proactive to execute audit plans, instead of following orders from the CFO, and initiate a direct and efficient communication between internal audit and audit
According to the conceptual framework, the potential users of financial statements are investors, creditors, suppliers, employees, customers, governments and agencies, and the general public (Financial Accounting Standards Board, 2006). The primary users are investors, creditors, and those who advise them. It goes on to define the criteria that make up each potential user, as well as, the limitations of financial reporting. The FASB explicitly states that financial reporting is “but one source of information needed by those who make investment, credit, and similar resource allocation decisions. Users also need to consider pertinent information from other sources, and be aware of the characteristics and limitations of the information in them” (Financial Accounting Standards Board, 2006). With this in mind, it is still particularly difficult to determine whom the financials should be catered towards and what level of prudence is necessary for quality judgment.
Stakeholders and stockholders are a group of individuals that can affect the company and also are affected by the company. In order to be a successful company needs to maintain their investor’s confidence. Stockholders are also able to develop value for the customer because they invest on ideas that will produce success for the company. Stakeholders are all the individuals that have an interest in the company such as employees, customers, and the surrounding community.
Foodies Forward’s Executive Director and the Board of Directors will create bylaws and board policies for the organization. These bylaws will state the rules and regulations of Foodies Forward. These rule and regulations will include but are not limited to: specifying the size and function of the board; dictating the roles and responsibilities of the Executive Director, the Board of Directors and additional staff; outlining meeting procedures and voting requirements, detailing conflicts of interests regulations, and defining how funding will be dispersed.
List and briefly describe the three general areas of responsibility for a chief financial officer (CFO) of a selected non-financial company which is listed on Australian Stock Exchange (ASX).
Given the success of Southwest Airlines CEO, I think the assignment would be difficult due to influences that the founder has on the Company. However, “If you are the chief executive of a company that is sailing with the wind and leading in its competitive race, that’s a sign that your culture is in sync with your strategy. This makes your company much more likely to deliver consistent and attractive profitability and growth results”(Katzenback, J., & Aguirre, D.,
The directors need to be able to view the financial performance of the group in order to make relevant and informed decisions. In order to obtain this information the correct procedures, as mentioned, must be followed to ensure that assets are not overstated and liabilities
The shareholders and financial community like banks, financial institutes etc are regarded as the important stakeholders in the company. The company meets the investors across the globe and organise Annual General Meeting. The company sends the quarterly and half-yearly reports to them and updating them about the different policies that the company is planning to do. The company also organizes Shareholders Relation Meet and Customer Forum. The Managing Director also calls for a conference with the customer groups. The meeting with the shareholders is done as per plan annually. The company has to do this because they have to inform the shareholders that how the company is doing and they have to build trust among the shareholders and financial institutes because they are the ones’ who have invested in the company and company has to take proper care of them in respect from making the policy for the company. Both the stake holder and finanical communites have high power and high interest in the operations of the company. So are regarded as key players in the stakeholder analysis.
The financial management information system provides financial information to all financial managers within an organization including the chief financial officer. The chief financial officer analyzes historical and current financial activity, projects future financial needs, and monitors and controls the use of funds over time using the information developed by the MIS department.
Due to the constant changes in today’s world, shareholders and stakeholders expect information about the operational, financial and investing activities of a business.
And we have to do many things to set it up. And I want to set a tuck
Owners and managers require financial statements to make important business decisions that affect its continued operations. Financial analysis is then performed on these statements to provide management with a more detailed understanding of the figures. These statements are also used as part of management's annual report to the stockholders.