Importance Of CFO In Fashion

In elementary school, I struggled with the comprehension of the material in my classes. Although, this was a simpler time period in my school career I never excelled in any specific subject until middle school. I have always suffered through Writing and English courses, but began to transcend in math at age eleven. It was at this age where I began to rationally think about my career options in this field. At the time, and even today still, I was intrigued by fashion. Anything from the runways to the textiles and designs, I wondered and questioned how designers could be so outgoing and creative. As I got older my computation skills only enhanced, but I took up sketching and painting as a calming hobby. It was not until freshman year of high …show more content…
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