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To become a CFO, one needs to be a certified public accountant (CPA) with experience in financial strategy. Working in junior positions and developing leadership, strategic thinking, and management skills can help move up to higher positions. Networking and finding a mentor can also be helpful.
If you want to become a financial executive, such as a chief financial officer (CFO), you will likely need experience as a certified public accountant (CPA) first. CPAs understand all areas of finance, including theory and how to create financial models. Before passing the CPA exam, aspiring public accountants generally must have a bachelor’s degree and two years of accounting experience, although qualifications can vary depending on each company or corporation. Being a CPA alone is not enough to become a top-notch finance executive such as a CFO, as a strong understanding of financial strategy is required for this top-notch career.
As a CFO is responsible for all of a company’s financial concerns, it is crucial to think strategically in all areas of finance. Treasurers and controllers usually report to a CFO; therefore, working in one of these positions and moving up can be a good way to become a finance executive. Controllers tend to work primarily with budgets and financial planning, while treasurers typically handle company borrowing and are more focused on accounting.
The best way to become a finance executive in a senior position is to work in junior positions, showing that you can take the initiative, be a leader and think strategically in the business. Once you gain work experience in the finance department of a company that will be attractive on your finance executive resume, it is possible that you will move to higher positions at another company or the same company. Supervision and management skills are required if you aspire to the ultimate CFO leadership position. A minimum of a bachelor’s degree from a reputable university’s business school is a good asset for anyone wanting to become a senior finance executive. In some companies, a VP of finance replaces a CFO to lead the finance team.
Developing a relationship with a mentor in a finance executive career can be a helpful way to become a finance executive. You can get valuable tips from people in finance executive careers, such as a VP of Finance or CFO. Joining professional finance career organizations is a good way to network and find out about potential jobs to become a finance executive.
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