Like I mentioned earlier, a fashion brand needs a CFO, they are responsible for managing daily financial needs of the company. CFO’s duties include, but are not limited to, cash inflows and outflows. They oversee all financial operations, as well as making sure that sales margins are managed properly in order to pay back supply-chain and retail lenders. The job of a CFO in fashion varies a little to those in basic companies because they need to calculate the constant inflow and outflow of cash due to day-to-day demanding necessities in the fashion world. One of the appealing parts of being a CFO is that there tends to only be one or two people above you on the business food chain. Hence, the controllership duties that CFO’s have such as responsibility of reporting and presenting accurate and timely historical financial information, because every member of the company relies on this accuracy in order for decisions to be made. Secondly, we have the obvious treasury duties of a CFO to decide how to invest the company’s money, factor risks, assess liquidity. Similarly, one of their most important roles is to address issues surrounding capital structure. CFO’s are a necessity for companies because of their responsibility of a company’s past, present, and future standings. Their duties of economic strategy and forecasting allow them to identify and report what areas of a company are most efficient as well as areas that are unnecessary. These are mostly surface duties in the day-to-day responsibilities of
Like I mentioned earlier, a fashion brand needs a CFO, they are responsible for managing daily financial needs of the company. CFO’s duties include, but are not limited to, cash inflows and outflows. They oversee all financial operations, as well as making sure that sales margins are managed properly in order to pay back supply-chain and retail lenders. The job of a CFO in fashion varies a little to those in basic companies because they need to calculate the constant inflow and outflow of cash due to day-to-day demanding necessities in the fashion world. One of the appealing parts of being a CFO is that there tends to only be one or two people above you on the business food chain. Hence, the controllership duties that CFO’s have such as responsibility of reporting and presenting accurate and timely historical financial information, because every member of the company relies on this accuracy in order for decisions to be made. Secondly, we have the obvious treasury duties of a CFO to decide how to invest the company’s money, factor risks, assess liquidity. Similarly, one of their most important roles is to address issues surrounding capital structure. CFO’s are a necessity for companies because of their responsibility of a company’s past, present, and future standings. Their duties of economic strategy and forecasting allow them to identify and report what areas of a company are most efficient as well as areas that are unnecessary. These are mostly surface duties in the day-to-day responsibilities of