A CFO manages all a company’s financial operations- past, present and future. In most cases, they are considered second-in-command to the CEO. CFOs bridge the gap between technical financial information and business strategy. Most CFOs have a deep understanding of accounting.
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) stated that internal controls are “designed to provide reasonable assurance of the achievement of objectives” in the following three areas:
As your company grows, things get complicated. More cash is coming in, which is good — but understanding what is really happening within your company’s walls and planning for the future can be more complex.
Budgeting and forecasting are accounting and finance processes helpful for setting goals and measuring a company’s growth. Although the terms are often used interchangeably, they have some differences to be aware of.
Two of the most common business processes you will find yourself managing (if not obsessing over) in your accounting system are accounts payable and accounts receivable.
