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Finance<br />
Managing long-term and operational funding, accounting, and financial<br />
reporting.<br />
Accounts payable Managing amounts owing to suppliers to ensure timely and accurate<br />
payment (maintaining Accounts Payable Ledger).<br />
Accounts<br />
Managing amounts due from clients and service-users to ensure prompt<br />
receivable<br />
collection (maintaining Accounts Receivable Ledger).<br />
Accounting and Bookkeeping to record and track financial transactions and fixed assets<br />
reporting (control) (maintaining Cash Book and General Ledger).<br />
Budgeting and Preparing and monitoring budget, variance analysis, and management<br />
forecasting accounts.<br />
Expense<br />
Approving, recording, reimbursing, and monitoring employee-generated<br />
management expenses (travel, accommodation, etc.)<br />
Tax<br />
Planning and managing all tax-related expenses.<br />
Treasury<br />
Managing cash to maximize liquidity.<br />
management<br />
Payroll<br />
Administering salaries, wages, bonuses, and deductions.<br />
Another way of thinking about the roles of the CFO related to control is to consider the main<br />
organizational functions of finance, as:<br />
• Catalyst.<br />
• Strategist.<br />
• Stewardship.<br />
• Operative.<br />
These roles are illustrated below (taken from “What is a Financial Controller? Roles and<br />
Responsibilities” 43 .<br />
43<br />
What is a Financial Controller? Roles and Responsibilities, Oracle Netsuite.<br />
70
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