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CFO Training

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Transcript of CFO Training

Your Role & Responsibilites
CFO Training
Financial Report

Financial Model
Methods of Payment
study trip funds
trip budget & watching spending
trip payments
accounting for
trip expenses
communicating policies & budget info
resolving budget issues
timely delivery of reports
submit a trip budget

monitor your budget
stick to costs outlined
keep costs reasonable
turn in Financial Report
two weeks
after trip
two parts: the
and the
to collect receipts
in-country boarding passes
train tickets
hotel bills
other items
ask for receipts;
track all expenses
each trip has a separate bank account
amount based on approved trip fee
funds cover exact number of participants
budget is dynamic; decisions impact trip fee
debit cards
wire transfers
two debit cards
; one for CFO, one for back-up CFO
debit card makes accounting easier
use wire transfers for large invoices
use as little cash as possible
; tracking is difficult
limited to amount you can withdraw at one time
check balance online
track payments
see transaction log
online access
for reimbursing students
for payments to vendors in US
Categories of Travelers
student trip leaders
faculty advisor and staff
faculty SO
Complete the CFO Quiz
GSB pays trip costs and provides stipend
no accounting needed for stipend spending
pay for their trip once completed and expenses calculated
billed through Financial Aid Office
responsible for own airfare and out-of-pocket expenses
same costs as participants plus cost of single occupancy room
funds advanced to cover the trip
out-of-pocket reimbursed to them directly through the GSB
not covered by GSB
collect payment from SO before trip
if advisor wants to bring SO, contact Global Experiences
complete online quiz for access to trip bank account
Full transcript