What is the difference between a CFO and a Chief Accountant?

What is the difference between a CFO and a Chief Accountant?

Consulting company "Gloria" reviews about the work of which are exceptionally positive, will tell in this small post, how the position of CFO differs from the post of chief accountant. A little distracted. The search and selection of personnel (Kiev and the whole Ukraine) is by no means the only thing the recruiting agency does. His rating is therefore so high. The recruiting agency also provides consulting services, conducts the proper workflow at the proper level. Recruiting company, in addition, implements audit on outsourcing. However, we turn to the topic of publication - the comparison of functional duties and, accordingly, the possibilities of such positions as the finance director and the chief accountant.

First, it is necessary to determine the terminology and this is easiest for specialists whose specialization is search and selection of personnel (Kiev, Lipskaya 19/7, 87 - Gloria). So, the CFO is the manager who sets the right direction for the financial development of the company, engaged in strategic planning, and also responsible for investment policy. He is the key advisor for cash flows for both owners and top managers. In turn, the chief accountant is the head of the accounting department of the enterprise. In other words, the main one in the structure responsible for working with hosoperatsiyami.

First of all, it should be clarified that the first (financial director) has the right to make decisions on the expenditure of funds. The second does not have this possibility, but this official is responsible for the correctness of the implementation of such transactions, as well as the corresponding reporting on them.

Secondly, Gloria Consulting Company clarifies, reviews about the study of external factors that affect the success of business projects are the prerogative of the financial director and not otherwise. Glavbuch is responsible primarily for the internal affairs of the enterprise, but again in the context of finance.

Thirdly, the Gloria recruiting agency clarifies, the finance director is responsible for developing those solutions that ensure the growth of the company's profitability. Ideally, the latter should lead to an improvement in the efficiency of the business model adopted as a basis. If you consider the duties of the chief accountant, then they provide only compliance with legislative standards in terms of ensuring profitability growth and optimizing the efficiency of a particular enterprise.

And the last significant difference in the functional responsibilities of the financial director and the chief accountant. The latter, as a rule, takes part in negotiations on business issues only in isolated cases, but now it works closely with government agencies, fiscal authorities, various funds. The CFO is charged with the most active business communication with people who are directly related to business. Not only managers and partners are implied, but investors are real and potential. If we talk about the degree of communication with government agencies, then, for example, if a financial director has a recruiting company in charge, he does not interact with the latter companies with the latter. But the development of the company's financial policy, planning and financial management are the key tasks of the vice president for finance. This is how the post is most often called in the West. Let's note, one more synonym of the given post - the assistant to the general director on the finance. "Gloria" is a recruiting agency, whose rating is invariably high, will gladly close your vacancies and the financial director and the chief accountant.


Lyudmila Petruchenko