dq-4 - criminal offence which may be against the reputation...

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CFO in an organization is a person who looks after all the pertaining to accounts and finance and responsible for presentation of true and fair view of financials. He is responsible to present the information with full of detail and explanation to understandable for management, internal customers and external like government, banks, shareholders etc. CFO is also responsible for management if management wants that presentation should be in a questionable and if CFO thinks that it is with in law he may present accordingly. A CFO who knows the legal structure of the company as well the other regulatory guidelines which are applicable to an organization. He also knows that presentation of information in a particular way may be questionable as well as with in the norms and standards. If misrepresentation turns into fraud or mislead to shareholders, Government or bankers it becomes
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Unformatted text preview: criminal offence which may be against the reputation of a company. If any thing which is against the reputation of a company can be harmful for entire group. Ethical gray are for a CFO is misrepresentation of any information which is against the banks in sanctioning of loans or investors like non showing of few interest expenses in the books or showing of any contingent liability which will certainly be against the company to improve the ratio etc. CFO is source or say mediator among management, shareholders, bankers and government. He has to act on the mandate of management as well as follow the law, rules and other standards issued by the competent authorities. If he follow the mandate of management then he is black towards the outsiders and in vice versa towards the management. He has to manage his role in such a way that every issue may be properly balanced....
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This note was uploaded on 03/30/2011 for the course ACC 305 taught by Professor Allison during the Spring '11 term at Western Intl..

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