Corporate Finance / CFO Operations
Sit in the CFO seat of a real company. Daily in-tray of covenant calls, audit findings, M&A inbound, tax positions — keep liquidity above the floor, stay inside the covenant, fund what beats the cost of capital, and call Friday's cash.
Inside The CFO Chair
Screens from a class in progress. Click any screen to see it full size.
The CFO Chair extends the continuous-operations pattern to corporate finance, on a real company's books. Each active day brings 1-5 finance emails: your treasurer flags a covenant check, the audit committee chair sends pointed questions, a tax position needs a call, a board member proposes a buyback, an M&A inbound lands. Most are multiple-choice; the rest ask for a written memo that an LLM senior-CFO grader scores 0-10 on financial reasoning, judgment, and stakeholder awareness. Every call moves the company's books with its timing (cash, debt and interest, revenue and costs, the covenant the lender tests every fifth sim day, capital projects with post-audits), and each week the team commits a range for Friday's cash. The CFO Score is one number on the leaderboard, final report and gradebook: Cash Discipline (liquidity and covenant headroom, measured daily) and Capital Allocation (value created at the cost of capital) about 27% each, Audit Trust (judgment calls and memos) about 27%, and Forecast Accuracy (the weekly guidance) 20%. Teams split four light finance-team seats (Treasurer, Controller, FP&A Lead, Corporate Development): the inbox marks each email "For:" its seat, the FP&A Lead also owns filing the weekly guidance and the Treasurer its revolver plan, and each student writes a weekly reflection on what the books, the covenant and the guidance said, worth 20% of the suggested grade with their owned work once the class uses roles. Companies: Tessera (High-Growth SaaS), Northwell (Mid-Cap Manufacturer), Cresthaven (Hospital System), Lattice (Public Company) and Harbor (PE-Backed), each starting from its own Company page.
Share this with your team— printable one-pager for a chair or procurement./for-your-team/cfo-chairEmails from the whole catalog land from Day 1: treasury, audit, FP&A, capital, tax, reporting. Teams claim their finance-team seats, read their Company page (the starting books, the liquidity floor, the covenant), commit week 1's cash range before Day 2, and see the first covenant test and Friday card on Day 5.
Spending and borrowing calls move liquidity and covenant headroom. Thin headroom brings the lender's call and a failed test brings the waiver; teams learn to plan revolver draws with their guidance, and each student writes a first reflection from their seat on what week 1's books, covenant and guidance said.
Acquisitions, capex and buybacks become projects with cash schedules and planned NPVs at the cost of capital. Passing scores neutral; money already spent is sunk.
The first projects report plan against actual. Teams use the Friday cards and the grader's comments: a range as wide as the real uncertainty, memos that cite the books.
Every day stays in Cash Discipline and every week in Forecast Accuracy to the end. The leaderboard, final report and gradebook show the same CFO Score, and the debrief asks what kind of CFO each team turned out to be.
A walkthrough from Jeff Forgrave, who built Boardroom Rivals.
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