 In modern corporations the role of CFO has gained a significant consideration. Now CFO is not considered as a person who is responsible for management of the funds entrusted to him by the shareholders. But CFO is also considered to have the capability to advise the board members from their operating decisions to their strategic decisions who are concerned from the profitability of a firm to its long term sustainability. So, we can say that the role of a modern CFO is equally significant along with the roles performed by its peers in any modern corporate firm. In this regard, the CNMikers point of view with reference to a CFO can be explained or depicted in certain questions like, as a CFO, how should I measure the performance of my own company against the performance of my competitors. So, that is our decision that has to be taken by a CFO. Next, what drives the stock value of my company? We know that a CFO being an officer of the company is equally responsible to work in the best interest of the shareholders and by best interest of the shareholder means the wealth maximization of the shareholders. In terms of finance, the wealth maximization means an increase in the share prices of the shares held by shareholders of a corporate firm in which a person is working as a CFO. The third question is, how shall I design incentive system to reduce agency cost between owners, managers and shareholders? So we see that there is a shift from a normal accountant by a CFO to wider range of questions a CFO needs to answer. If we describe the evolutionary change in the CFO's role, we see that during the mid-century of the last, particularly in the 1950s to 1960s, little role was performed by the CFO. Like he was responsible for record keeping of all business transactions, he was supposed to head internal audit function of the corporate firm. He was required to report financial results to the shareholders. Largely, all these three roles are equally and in the same spirit performed by CFOs in every country in generally family owned firms but today there has been a little change, rather significant change. Like one of the top three decision makers in the firm like chief operating officers or chief executive officers, decisions like investment decisions, financing decisions and managing management decisions, equally a CFO is assumed to perform his role in all these three decisions. If we see the CFO's responsibilities in today's modern firm, he is supposed to perform in financing decisions in investment decisions and particularly in managerial decisions. Let's start about managerial decisions which is a new dimension in the responsibilities basket of a modern CFO. These decisions include performance management of business units individually and collectively. He is supposed to determine the debt parameters or measures against which the performance of unit managers is determined by the firm. He is supposed to set budget limits and review these budget limits in accordance with available funds. He is used to advice in personal management in setting a remuneration for the managers or the officers in order to attract them, to retain them and motivate them to work for their best. He is supposed to ensure performance compatible incentive design so that the personal working in the company may work for the best interest of the shareholders. He is assumed to communicate financial results and firms policies to the external community. Apart from all these responsibilities at the managerial level, he is also assumed to ensure regulatory compliance and its disclosure to the regulatory authorities and to the external community who is interested in this compliance. Being a key person in the firm, he is supposed to develop and maintain loans among all the departments of the carpet. The next domain is the financial decency. We know that CFO is a person who is interested with the funds taken internally or generated externally. So he is supposed to manage these funds effectively and efficiently in the best interest of the shareholders. He is supposed to use funds in such a way that the shareholders' wealth can be maximized. In this regard, he is supposed to advise board members regarding capital structure of the firm, regarding dividend policy of the firm and the effect of these decents on the firm's financial health and its riskiness. He is responsible for auditing the financial statements of the firm and they are reporting to the external communities. He is responsible to develop a risk management framework along with setting and designing risk tolerance limits in terms of insurance contracts, hedging contracts and the net risks exposure of these contracts on the shareholders' capital. He is supposed to work in line with the agencies who are contacted for assessment of the company's credit risk. He is also assumed to perform in planning at all level at the corporate firm. Either it is a long-range planning, it is a medium-range planning from time point of view or either it is an operating plan or a strategic level plan. Whether it is an overall business plan or an insurance plan or a tax planning, whatever the planning phase is there. Finally, another core job of a modern CFO, he is assumed to review capital expenditure under the domain of capital budgeting. He advises to the board members that what analytical tool is appropriate to assess the capital expenditure, its effect on the firm's financial health, its riskiness and he is assumed to advise the board member to set the limit of capital expenditure under consideration. So far as research and development functions at the corporate firm is there, he is assumed to advise regarding the expenditure allocation in this phase for strategic responsibility in terms of mergers, acquisitions, joint ventures, risk teachers. He is assumed to determine the net impact of these merger, acquisition and divestiture policies. This vestiture policies on the shareholders' wealth. So far as the firm's ownership structure is there, he is assumed to advise on the effect of ownership dilution as a result of new equity issue, as a result of issuance of convertible bonds on debt covenant violation, equity car routes, issuance of executive stock options and all those financial instruments issues that may have a significant implication both on the financial health of the company and on the wealth of the shareholders. Apart from these investment decisions in the last but not the least, a modern CFO is assumed to play his significant role in the working capital management practices of a modern corporate firm, either it belongs to cash management, receivables management, inventory management, tax management or payables management. This role cannot be ignored.