Finance Manager
Different Roles of a Finance Managers in a Company–
The Role of Finance and the Finance Manager–
The role of Finance Managers (Finance Manager), which encompasses both the art and science of managing a company’s finances in order to achieve its objectives, is not only the purview of the financing department.
There are monetary repercussions associated with every company choice. Every department’s managers are required to maintain strong collaboration with the finance staff.
If you are a sales representative, for instance, the credit and collection rules of the organization will have an impact on your capacity to generate sales.
Any requests for new computer systems or staff laptops will need the director of the information technology department to provide a justification.
The Financial Manager’s Responsibilities and Activities
The position of a financial manager is one that is both difficult and complicated. In addition to preparing and putting into action financial strategies, they also monitor the company’s financial state and evaluate the financial data that was generated by accountants.
There is a possibility that one day they may be working on a more efficient method of automating cash collections, and the following day they will be researching a potential purchase. Following are the primary responsibilities of the financial manager:
- Financial planning:-
Putting together the financial plan, which should include projections of income, expenditures, and financing requirements for a certain time period.
- Investment (spending money):-
The process of investing the company’s capital in projects and securities that provide high returns in comparison to the risks attached to them.
- Financing (raising money):-
The process of acquiring finance for the company’s operations and investments, as well as the search for the optimal balance between debt (referred to as borrowed funds) and equity (referred to as funds acquired via the sale of ownership in the company).
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