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Checklist for a great CFO

Following the article what is a Virtual CFO, I thought I’d dive into some specifics with a checklist.

• Participate in strategic discussions
• Challenge the owner/CEO/Visionary
• Set the budget with key stakeholders
• Ensure the business has the right amount and type of funding
• Report against the budget
• Ensure actions are being taken to hit and exceed the budget
• Design reports
• Share financial results with the management team
• Research pricing strategies
• Develop disaster recovery plan
• Create KPIs for the finance department
• Decide on the tax planning strategy
• Review and negotiate key contracts
• Build relationship with bankers

• Supervise the training and work of the bookkeeper
• Produce management accounts
• Look for ways to improve cash flow each month
• Look for ways to reduce costs each month
• Optimise borrowing
• Improve security and reduce theft

Skills and attitude
• Commercially minded
• Obsessed with cash flow
• Deep understanding of the sector
• Affinity with the business objectives
• Good listener and communicator
• Approachable
• Think skinned
• Ability to focus and get the highest return on investment

If you’d like some CFO support get in touch.

Image from Flickr by Kevin Dooley.

  • We are committed to helping you grow your business

  • We are highly qualified and experienced

  • Specialist in tax planning

  • Fair and reasonable pricing policy