PROBLEM 132 Role of controller role of chief financial offic

PROBLEM 1-32 Role of controller, role of chief financial officer. George Jimenez is the a manufacturer of devices for the computer industry. The company may controller at Balkin E promote hin to chief Activity CFO g the financial statements to the board of directors Budgeting funds for a plant upgrade Negotiating fees with auditors Evaluating the costs and benefits of a new product design 2. Based on this table and your of various products George find most useful for the CFO position? IF

Solution

Points included in the above table are as follows:

Out of the above, point 5 and 6 would be something George would already be doing as a part of his current role and to a significant extent, would also be involved in point 3 and 7. Therefore, he will need some training/experience in other areas of which, which will essentially be additional or significantly enhanced responsibilities in current role. Few indicative trainings/experiences can be highlighted as followed:

Managing the company’s long term investments

Understanding of investment policy of the company

Shadowing current CFO in the way he goes about his work

A refresher course on investment management

Strategic review of different lines of business

Internal training to facilitate greater understanding of business with the business heads, on intricacies of how business works and what is the current strategy of the company (and why)

Evaluating the costs and benefits of a new product design

Budgeting funds for plant upgrade

Executive course of funds management/financial planning/project evaluation, along with detailed understanding of the way the company currently performs all these activities

This is an aswer which can be discussed/argued in multiple ways. A very subjective topic. Therefore, for any additional clarification/discussions related to this solution, please comment. Happy to help further

Managing the company’s long term investments	Understanding of investment policy of the company Shadowing current CFO in the way he goes about his work A refresher course on investment management
Strategic review of different lines of business	Internal training to facilitate greater understanding of business with the business heads, on intricacies of how business works and what is the current strategy of the company (and why)
Evaluating the costs and benefits of a new product design Budgeting funds for plant upgrade	Executive course of funds management/financial planning/project evaluation, along with detailed understanding of the way the company currently performs all these activities