I just had to explain to my new CFO that post-audit adjusting entries from 2023 will affect all of the financials for 2024 and that I need to restate all of this year's financial statement packages. Explain again how this guy is the boss...

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The many conversations we’ve had to have with our client’s CFO/CEOs on this would scare many people. lol

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Charisma lol

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Nah, he definitely doesn't have that. More like, he's a slightly younger version of the CEO (looks and sounds like him )

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Fire him

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If only I could. He's been here less than a month, so it's still early, but the CEO loves his "mini me". Until he feels otherwise, I'm stuck with an almost 60 y/o who doesn't understand how basic accounting works.

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Ha! I think i worked for the same guy. My advice to you is be careful, they really don't want smart people under them.

likehelpful

There are absolutely some people who don’t.

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He could eventually get fired. It is definitely a disadvantage to have a CEO who doesn't understand how basic accounting works.

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How does he not know that??? If he’s the CFO, that’s very disturbing.

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I bet he can't use technology either, and has no idea how to find emails or open webex

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How does this person even interact with their audit committee?

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Correct - it's a privately held company (less than $100M in sales) but still, the CFO does have to maintain relationships with the bank, communicate with the stakeholders/owners, potential new acquisitions, etc.

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