A CFO plays several important roles beyond bookkeeping by implementing internal controls, handling major projects and financing, cultivating outside relationships, driving strategic issues, and advising management to provide a strong financial foundation for business growth. An effective CFO is more than a glorified bookkeeper and their roles are essential for privately held companies struggling with whether they can afford or understand the value of a high-caliber financial professional.

1. What is the Role of a CFO?
For many privately held businesses, the decision to hire a chief financial officer (CFO) is
often a difficult decision. Beyond the issue of whether the company can afford a high-caliber
financial professional, many business owners are often confused over just it is that a CFO
does or should do.
More than just a glorified bookkeeper (or someone whose long service to the company has
been rewarded with a fancy title), an effective CFO plays a number of important roles within
the entrepreneurial company that are essential in providing a strong financial foundation for a
growing business. Listed below are some of the critical areas in which an effective CFO will
work to provide financial support for a company's business objectives
Implements/Supervises Internal Controls
Handles Projects With Major Financial Impact
Cultivates Relationships With Outside Financing Sources
Drives Major Strategic Issues
Serves As Key Advisor To Company Management