Today's Role of the CFO

When it used to be administering the financial consequences of operative decisions, it is now to help take better operative decisions to improve the financial position.

Tuesday, July 21, 2009

In a short time span, CFO functions have changed from overseeing costs to having absolute control over them. It is no longer sufficient to implement control and administration rules, at times when the primary objective is the very survival of the company.

A Price Waterhouse Coopers analysis indicates 5 keys for CFOs:
1. Earn the mandate to lead by demonstrating
competence.
2. Develop a plan
3. Address the short term fixes decisively.
4. Tackle complexity.
5. Communicate.



More on this topic

Guatemala As seen by the IMF - March 2018

March 2018

Supported by greater growth in the US economy, better monetary conditions and a moderate boost in government spending, growth should accelerate gradually until it reaches a rate of 3.6% in 2019.

The mission of the International Monetary Fund (IMF) recognizes the macroeconomic stability that has been achieved, but warns of a need to approve a fiscal reform that allows the tax burden to be increased to at least 15% of GDP, and allocate that additional income to public investment, especially in social development, particularly pre-primary education, preventive health care and greater pension coverage.

New route for the panamanian Financial Center

March 2017

The government and the private sector are working on a plan to renew the business model for the financial center, developing specialized services for different market niches.

A working group consisting of representatives from government, regulators and the private sector are making an assessment of the financial services platform operating in the country in order to redefine their objectives using the example of best practices in similar jurisdictions which are more developed and adapted to international regulation.

IMF Details Problems in El Salvador

May 2016

The IMF has indicated political polarization, high crime and outward migration, rising unit labor costs and high logistics costs, barriers to entry and expansion of business, fiscal uncertainty, and limited human capital.

From a statement issued by the IMF:

The IMF staff team visited San Salvador during April 25—May 6 for the 2016 Article IV consultation and held fruitful discussions with the Salvadoran authorities, parliamentarians, business community, academics, and social partners.

Who Doesn't Need an Offshore Account?

April 2016

Legal tax engineering is a mandatory business practice for anyone who wants to be competitive in today's globalized world, and only those who are not entrepreneurs can afford to refuse to acknowledge this fact.

EDITORIAL

With the same firmness that we criticize businesspeople who evade taxes or bribe officials to get a contract, we must defend every business practice which is framed within the law to pursue the best use of available resources to generate wealth through the production of goods and services, which is what businesses do.

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