Equipment Dealer CFO: Resources to Help You Thrive!
What is the role of the equipment dealer CFO, and how can you thrive in this role? Here are a few resources that may help.
?Resources for your development as CFO
?a.?????McKinsey, The Role of the CFO. Three areas of CFO responsibility that may be of particular relevance to you are:
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b.?????Article: "…Bring Life to Accounting in a Farm Equipment Dealership."
Includes a great definition of the accounting roles: "Accountants impose order on chaos through two elements — people and processes. The comptroller manages the general ledger. The role of the chief financial officer (CFO) is to dial down deeply, understand the business, and increase the owners' equity."
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c.?????Article: Why you don't need to be an accountant to be a CFO
CEOs seek a business counsellor as much as a financial counsellor in a CFO. This is where you can shine!
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d.?????Books: I highly recommend you read one of these:
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e.?????Potential training
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?Role of accounting in an equipment dealership.
?The old adage in equipment distribution is that we Sell Equipment, Fix It, and Collect the Money. Of all the functions an equipment dealer has, collecting money and doing it exceptionally well should be at the top of the list.
?Here are six essential functions of an equipment dealer accounting department:
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?How to fix your accounting department (using the Sig Sigma DMAIC method):
I hope these help!