067: How CFOs Add Value to the Business
11/02/21 • 15 min
What value does the Chief Financial Officer add to the company? A CFO typically has a wealth of experience, knowledge, and a particular strategic skillset to help them navigate the challenges of leading an organization. But what do CFOs do to add value? The CFO Leads the Finance and Accounting teams who don’t only conduct reporting and transaction recording, but also can add tremendous value by analyzing opportunities in all sections of the profit and loss statement.
Episode outline:
- Advises the CEO, the executive team, and the board,
- Examines new opportunities within the P&L statement,
- Maximizes technology to develop better analysis and accounting practices,
- Safeguards company assets and it’s financial reputation, and
- Trains their team to partner with leaders around the company.
Please follow me on:
1. Instagram: stephen.mclain
2. Twitter: smclainiii
3. Facebook: stephenmclainconsultant
4. LinkedIn: stephenjmclainiii
Consider joining The Finance Leader Podcast Community Facebook Group, where we can talk leadership and the other topics I present here on the podcast. https://www.facebook.com/groups/financeleaderpodcast This is a good time to jump in and start sharing ideas and thoughts about leadership so we can help each other.
For more resources, please visit stephenmclain.com. On the website, you can download the Leadership Growth Blueprint for Finance and Accounting Managers. You can use this guide to develop your leadership by focusing on communication, and growing and empowering your team.
You can now purchase a course to help you advance your career from financeleaderacademy.com. It's called Advance Your Finance and Accounting Career: Developing a Promotion Strategy that Sets You Apart.
What value does the Chief Financial Officer add to the company? A CFO typically has a wealth of experience, knowledge, and a particular strategic skillset to help them navigate the challenges of leading an organization. But what do CFOs do to add value? The CFO Leads the Finance and Accounting teams who don’t only conduct reporting and transaction recording, but also can add tremendous value by analyzing opportunities in all sections of the profit and loss statement.
Episode outline:
- Advises the CEO, the executive team, and the board,
- Examines new opportunities within the P&L statement,
- Maximizes technology to develop better analysis and accounting practices,
- Safeguards company assets and it’s financial reputation, and
- Trains their team to partner with leaders around the company.
Please follow me on:
1. Instagram: stephen.mclain
2. Twitter: smclainiii
3. Facebook: stephenmclainconsultant
4. LinkedIn: stephenjmclainiii
Consider joining The Finance Leader Podcast Community Facebook Group, where we can talk leadership and the other topics I present here on the podcast. https://www.facebook.com/groups/financeleaderpodcast This is a good time to jump in and start sharing ideas and thoughts about leadership so we can help each other.
For more resources, please visit stephenmclain.com. On the website, you can download the Leadership Growth Blueprint for Finance and Accounting Managers. You can use this guide to develop your leadership by focusing on communication, and growing and empowering your team.
You can now purchase a course to help you advance your career from financeleaderacademy.com. It's called Advance Your Finance and Accounting Career: Developing a Promotion Strategy that Sets You Apart.
Previous Episode
066: The CFO Skillset for a Complex Business Environment
The modern CFO requires a different set of skills and perspective to navigate the complexities of the new global marketplace. Traditional business concepts are changing into more a dynamic and socially conscious environment where you must be able to solve much different problems than as a team manager. When you combine a strategic skillset with your finance and accounting knowledge plus a growth mindset, you will be able to succeed at the executive level.
The following outline is used during the outline:
- You must transition your skillset as you advance in role and responsibility,
- Anticipate the future business environment and coach the development of options within the decision-making process,
- Can you adapt and lead change,
- Clear and consistent communication includes being able to listen effectively, and
- Continue to grow personally and to develop your team.
Please join The Finance Leader Podcast Community Facebook Group, where we can talk leadership and the other topics I present here on the podcast. https://www.facebook.com/groups/financeleaderpodcast This is a good time to jump in and start sharing ideas and thoughts about leadership so we can help each other.
For more resources, please visit stephenmclain.com. On the website, you can download the Leadership Growth Blueprint for Finance and Accounting Managers. You can use this guide to develop your leadership by focusing on communication, and growing and empowering your team.
You can now purchase a course to help you advance your career from financeleaderacademy.com. It's called Advance Your Finance and Accounting Career: Developing a Promotion Strategy that Sets You Apart.
Please follow me on:
1. Instagram: stephen.mclain
2. Twitter: smclainiii
3. Facebook: stephenmclainconsultant
4. LinkedIn: stephenjmclainiii
Next Episode
The CFO and the Business Strategy
The Chief Financial Officer contributes significantly to the strategic planning and execution processes of the organization. Strategy becomes a decision about choices around available resources. Where do you commit the company to go based on the resources that are available? The CFO and their teams help to evaluate key metrics in the development and then execution of the strategy. The CFO must take a strong leadership role in the formulation, analysis, and then execution of the strategy.
Episode outline:
- What is strategy,
- Prefer a long-term strategy instead of operating in the short term, and
- How the CFO adds value to strategy planning and execution.
Please follow me on:
1. Instagram: stephen.mclain
2. Twitter: smclainiii
3. Facebook: stephenmclainconsultant
4. LinkedIn: stephenjmclainiii
Consider joining The Finance Leader Podcast Community Facebook Group, where we can talk leadership and the other topics I present here on the podcast. https://www.facebook.com/groups/financeleaderpodcast This is a good time to jump in and start sharing ideas and thoughts about leadership so we can help each other.
For more resources, please visit stephenmclain.com. On the website, you can download the Leadership Growth Blueprint for Finance and Accounting Managers. You can use this guide to develop your leadership by focusing on communication, and growing and empowering your team.
You can now purchase a course to help you advance your career from financeleaderacademy.com. It's called Advance Your Finance and Accounting Career: Developing a Promotion Strategy that Sets You Apart.
The Finance Leader Podcast - 067: How CFOs Add Value to the Business
Transcript
What value does the Chief Financial Officer add to the company? A CFO typically has a wealth of experience, knowledge, and a particular strategic skill set to help them navigate the challenges of leading an organization. But what do you see as those do to add value?
Stephen McLainThe CFO leads the finance and accounting teams who don't only conduct reporting and transaction recording, but also can
If you like this episode you’ll love
Episode Comments
Generate a badge
Get a badge for your website that links back to this episode
<a href="https://goodpods.com/podcasts/the-finance-leader-podcast-223708/067-how-cfos-add-value-to-the-business-25462861"> <img src="https://storage.googleapis.com/goodpods-images-bucket/badges/generic-badge-1.svg" alt="listen to 067: how cfos add value to the business on goodpods" style="width: 225px" /> </a>
Copy