Who is responsible for creating budgets and forecasting within a company?

The Chief Financial Officer (CFO) is primarily responsible for creating budgets and forecasting within a company. This role entails overseeing the entire financial strategy of the organization, including financial planning, risk management, record-keeping, and financial reporting. The CFO analyzes the company's financial performance and makes projections based on that analysis to guide strategic decision-making.

This responsibility is crucial because effective budgeting and accurate forecasting are essential for the organization's financial health and strategic initiatives. The CFO often collaborates with other executives and departments to align financial resources with the company's goals and objectives while ensuring that spending remains within budgetary constraints.

In contrast, other roles such as the COO (Chief Operating Officer) may focus more on the operational aspects of the business rather than financial planning. The CEO (Chief Executive Officer) oversees the overall operations and strategy of the company but typically delegates the financial specifics to the CFO. Managers, while involved in budgeting within their departments, do not have the overarching responsibility for company-wide budgets and forecasts that the CFO holds.