Purchase Solution

CFO to CEO Corporate American Financial Officers

Not what you're looking for?

Ask Custom Question

There has been a trend across corporate America of promoting financial officers to CEO. What are some advantages and disadvantages of this practice

(Based on the article of Financial Managers: http://www.ncbuy.com/careers/blsj/job010.html)

Purchase this Solution
Solution Summary

CFO to CEO Corporate American Financial officers are examined.

Solution Preview

With every situation comes pros and cons as to what the best option will be for those involved. Moving the CFO of a company up to CEO can benefit the company in ways that would be vastly different if the company was to hire someone that knew nothing about the financials of the company. Of course, the same can be true that it could also hinder the growth of the company and not be the best option. CEO's are incharge of advancing the company just as they are involved in failures for the company and usually the one that answers to the board of directors - if the company is big enough to have a board. "The CEO is essentially responsible for the success and failure of the company because the CEO ultimately leads the company and determines its direction" (Rakoczy, 2006-2011). Having experience as a CFO - generating financial information that would be reported to the other executives and understood so that changes can be made where needed provides knowledge that would support the ...

Purchase this Solution
Free BrainMass Quizzes
Social Media: Pinterest

This quiz introduces basic concepts of Pinterest social media

Learning Lean

This quiz will help you understand the basic concepts of Lean.

Marketing Research and Forecasting

The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.

Organizational Behavior (OB)

The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.

Accounting: Statement of Cash flows

This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.

View More Free Quizzes
Related BrainMass Solutions

  • Setting Accounting Standards.

    The CEO and CFO will have to provided much greater certification for annual and quarterly reports and mention any changes in the internal control system. No loans to directors or executive officers.

  • Duties of People Critical to the Corporate Process

    It fills the position of CEO in his absence and fulfills all the duties of the CEO. One of the main important officers in the corporation is the Chief Financial Officer (CFO).

  • Financial Staff and Issues

    Even though, individual officers have their daily tasks to perform, it appears to me that the CFO has a greater responsibility to perform at his/her highest level.

  • Finance Departments and Training CEO's

    521630 Finance Departments and Training CEO's With the proliferation of corporate takeovers, leveraged buyouts, and restructuring in the U.S., it would seem that chief financial officers (CFO) hold the keys to executive wisdom.

  • Issues that may occur within a financial management firm

    Even though individual officers have their daily tasks to perform, it appears to me that the CFO has a greater responsibility to perform at his/her highest level.

  • Duties of Corporate People

    It fills the position of CEO in his absence and fulfills all the duties of the CEO. One of the main important officers in the corporation is the Chief Financial Officer (CFO).

  • Sarbanes Oxley Act: Ethics

    It specifies the responsibility of corporate officers for accuracy and validity of corporate financial reports.

  • The Sarbanes-Oxley Act and the PCAOB

    W, 2011), New Requirements for the CEO and CFO The CFO and the CEO must take personal responsibility for the accuracy and completeness of corporate financial reports.

  • Conduct is illegal under Securities and Exchange Act

    While the CEO would be interested in the company being in compliance with SOX the CFO would pay more specific attention on how to keep the company compliant with regards to financial reports etc. (Section 302).

View More Related Solutions