Role of Financial Manager Essay - 1204 Words.
Role of the Financial ManagerMost Most successful corporations are a kluge of professional titles with each title representing defined and distinct responsibilities.Theoretically, these titles will work harmoniously in achieving common goals.And as odd as it may sound, corporations have evolved so that many of these professional titles are common across all industries.
A Financial Manager’s function can be very distinct and like any other department manager, a finance manager needs to have general management skills such as A) Planning on what work is to be done and the completion schedule in the accounting department, especially in the timely processing of transactions and guiding the budgeting process; B) Organizing the financial tasks, office management.
Role of Financial Manager. Role of the Financial Manager The role of the financial manager has changed drastically during recent years. Previously, financial managers were seen as the stewards of the organization, since they were responsible to ensure the accountability of all organizational assets and to generate accurate financial reports.
The Roles of a Financial Manager are many but their primary goal is to warrant growth of the proprietor’s wealth and to ensure maximum profit of the company. When a financial manager achieves his or her personal goals of a company, they too will be achieved, (Moyer, et al, 2008).
Corporate Finance and Financial Manager Role Over time, every business finds that while it has attempted to make the best decisions for its success, sometimes the right choices were made and sometimes the wrong decisions were made.
A manager depending on the situation, exercises different types of power, viz reward power and expert power. Besides the formal basis, the informal basis of power also has a more powerful impact on organizational effectiveness. A manager is only effective when his subordinates obey his orders.
The roles and responsibilities of a finance manager require a sincere commitment to detail and an inexhaustible need for new challenges. Each industry has its own laws and spending regulations, such as health care or local government, that finance managers must adhere to and, more importantly, hold each department of the business accountable for in order to maintain a fully functioning and.