USAIndiaCFO is the house of certified public accountants, chief financial officers, and chartered accountants who help your business virtually, do important financial tasks, and consulting with the best advice. As the name suggests, USAIndiaCFO is a company that offers virtual CFO services to American as well as Indian companies for a better future.
The virtual CFO Service in Mumbai is the services offered by the chief financial officer responsible for all financial activities of the company. He may delegate responsibility for many of the activities of the chartered accountant and the treasurer. The chartered accountant deals with areas that require knowledge of accounting. In its functions, it is equivalent to the financial manager. The Treasurer, responsible for financing and investment, acts as an intermediary between the company and the capital markets.
Virtual CFO handles all the tasks of a treasurer
Most often in the typical scheme, some or all of the functions of the treasurer are assumed by the virtual CFO. Such a scheme is implemented in traditional small businesses, with the exception of innovative venture companies, where the functions of the treasurer can be partially or completely delegated to the controller.
Given the close interaction between the functions of virtual CFO and treasurer, as well as the peculiarities of Indian companies, in which the chief accountant is obliged to report directly to the CEO, a modification of the standard scheme of organizational financial management, typical of most Indian companies.
Virtual CFO is considered in the board of directors
Incorporations, the main responsibility for performing financial management functions rests with the board of directors. Such is the Western practice, the experience gained in the organization of management in Indian companies. The board of directors may delegate these functions in whole or in part, but in any case, the responsibility lies with the board of directors. As the financial advisor for the company, the virtual CFO Service in Mumbai must be given importance.
In some companies, such a transfer of authority extends not only to routine functions but also to core decisions, with the board simply ratifying the drafts, information, and decisions submitted for consideration. In other cases, routine functions are delegated, but the board of directors reserves the right to make fundamental strategic decisions in the field of financial policy.
The meaning of a virtual CFO is different for different organizations. It is difficult to define the scope of responsibilities of the virtual CFO as each company sets certain tasks for him. It usually includes:
- Formation of the financial policy of the enterprise;
- Financial analysis;
- Solving issues related to attracting investment and obtaining loans;
- Budgeting of cash flow;
- Tax optimization;
- Financial flow management;
- Evaluation of investment projects and preparation of business plans;
- Implementation ad further operation of the system of cost accounting and production;
- Planning and controlling the production costs and preparations of recommendations on pricing;
- Setting up a system of reporting;
- Work with securities;
- Monitoring of receivables and payables;
- Overseeing and coordinating the work of accounting and financial services.
The virtual CFO Service in Mumbai is subject to strict requirements for work experience and education. USAIndiaCFO is the only place where you will find highly qualified and professional virtual CFOs who will lead your business financially.