Financial Staff and Issues
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Fundamentals of Financial Management Integrated Case Questions (u01s1): What are the primary responsibilities of a corporate financial staff? What are the most important financial management issues today? Why?
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Solution Summary
There are three financial management heads chief executive officer (CEO), the chief operating officer (COO), and the chief financial officer (CFO). They play important roles in management such as decision-making, set policies, and maintain ethical behaviors in business.
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The primary responsibilities of a corporate financial staff are to implement policies set by the chairman board and to monitor operational processes of the firm.
The management team is comprised of three financial heads such as the chief executive officer (CEO), the chief operating officer (COO), and the chief financial officer (CFO).
Chief Executive Officer (CEO) heads the financial team to make sure that policies are adhered to operations are run smoothly, and financial obligations are met within its deadline - director.
It is interesting to note, that some corporations use their chairman board for double duty, that is as the CEO and board member, however this practice is not recommend by the shareholders for fear that unethical practices may occur (conflict of interest).
Chief Operating Officer (COO) is responsible for the actual operations, including producing, ...
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- BA, Empire State College, NY
- MBA, Empire State College, NY.
- PhD , Concordia University
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