A Chief Financial Officer’s (CFO) is responsible for the entire finance and accounting function of a business. They work closely with the company or organization’s Chief Executive Officer and Chief Operating Officer.
What responsibilities will I have?
- Manage the finance, accounting functions, resources and financial assets of the company and subsidiary companies
- Create, implement, administer, and evaluate all financial programs, procedures and supporting information systems of the company
- Provide leadership in the development for the continuous evaluation of short and long-term strategic financial objectives
- Ensure credibility of company finance team by providing timely and accurate analysis of budgets, financial trends and forecasts
- Develop, implement, and maintain a comprehensive job cost system
- Coordinate changes and improvements in automated financial information systems of the company
- Ensure compliance with local, state, and federal financial reporting requirements
- Serve as the primary interface with lenders and CPA firm
- Partner with senior management in the development and execution of strategic business and/or operational plans
- Hire and retain key accounting and financing talent
- Act as the point person for all tax and audit activities
- Stay informed about the regulatory environment and developments to the industry / competitive landscape to incorporate best practices throughout the company
- Provide recommendations to strategically enhance financial performance and business opportunities
What education and training is required?
A bachelor’s or master’s degree in accounting, finance or business administration is preferred. You may also consider earning your CPA (Certified Public Accountant certification). To become a CFO in the agricultural industry, you must also have proven your ability through a generally accepted minimum of five years of related experience and have a strong background in leadership.
To pursue a career as a Chief Financial Officer:
The following high school courses are recommended: agricultural education, accounting, business courses, economics, government, and computer courses.
Where can I work?
Chief Financial Officers can work for any small to large company or organization within the agricultural industry.
Future Job Market / Outlook
The future outlook for a CFO will be good over the next five years.
Suggested Professional Organizations and Associations
- CPA Connect
- American Institute of CPA’s
- National Society of Accountants
- The American Accounting Association
- American Agricultural Economics Association