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Here and there, I harbor a doubt that Dante was a Financial Director. His renowned work, The Inferno, is a particularly exact portrayal of the work that it cannot be something else. He is intensely loathed by the laborers. He is altogether detested by different supervisors mean charlatan is his regular epithet among them, generally for examining their business ledgers. He is feared by the proprietors of the firm in light of the fact that the forces that he has regularly exceed theirs. Investors consider him answerable in yearly gatherings. At the point when the monetary outcomes are acceptable – they are credited to the gifted General Manager. At the point when they are terrible – the Financial Director gets accused for not authorizing budgetary order. It is an impossible to win, unpleasant work. Not many make it to the top and the rest resign, disintegrated and disenthralled.

The work of the Financial Director is made out of 10 components. Here is a general expected set of responsibilities which is basic all through the West. Macedonia, obviously, is an uncommon case thus I added my own, modest perceptions.

In the USA there is a capacity called the Chief Financial Officer. This is the Joe Wolfe Olympia, WA senior monetary chief in the firm and hence we will utilize this title in our article.

Hierarchical Affiliation

The Chief Financial Manager CFO is subjected to the Chief Executive Officer, answers to him and consistently reports to him.

The CFO is responsible for:

  • The Finance Director
  • The Financing Department
  • The Accounting Department which answer to him and routinely report to him.

Notwithstanding the above said, the CFO can report straightforwardly to the Board of Directors through the individual of the Chairman of the Board of Directors or by direct summons from the Board of Directors.

In Macedonia this would be viewed as conspiracy – in any case, in the West every capacity holder in the organization can – and consistently is – called by the dynamic Board. A barbecuing meeting at that point results: questioning the official and attempting to spot logical inconsistencies between his declaration and others. The design of business firms in the USA mirrors the political construction. The Board of Directors looks like Congress, the Management is the Executive Arm President and Administration, and the investors are individuals. The standard balanced governance is applied: the specialists are as far as anyone knows isolated and the Board reprimands the Management.

Similar strategies are applied: the Board can bring a laborer to affirm – a similar way that the Senate holds hearings and cross-questions laborers in the organization. Of late, in any case, the outline got fuzzier with directors serving on the Board or, more terrible, plotting with it. Incidentally, Europe, where such forbidden practices were regular heretofore – is transforming itself with enthusiasm see Britain and Germany.