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    FIN 2-What Does A Financial Manager Do

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    Jeffrey Jazz Bugash
    Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, develop long-term financial strategies and plans, and assist executives in making decisions. Financial managers work in various roles like controllers, treasurers, credit managers, cash managers, and risk managers. They prepare financial statements, analyze market trends, ensure legal requirements are met, and help management with financial decision making. Financial managers need strong analytical skills and the ability to communicate effectively.

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    FIN 2-What Does A Financial Manager Do

    Uploaded by

    Jeffrey Jazz Bugash
    51 views4 pages
    Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, develop long-term financial strategies and plans, and assist executives in making decisions. Financial managers work in various roles like controllers, treasurers, credit managers, cash managers, and risk managers. They prepare financial statements, analyze market trends, ensure legal requirements are met, and help management with financial decision making. Financial managers need strong analytical skills and the ability to communicate effectively.

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    FIN 2-What Does a Financial Manager Do

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    Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, develop long-term financial strategies and plans, and assist executives in making decisions. Financial managers work in various roles like controllers, treasurers, credit managers, cash managers, and risk managers. They prepare financial statements, analyze market trends, ensure legal requirements are met, and help management with financial decision making. Financial managers need strong analytical skills and the ability to communicate effectively.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    51 views4 pages

    FIN 2-What Does A Financial Manager Do

    Uploaded by

    Jeffrey Jazz Bugash
    Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, develop long-term financial strategies and plans, and assist executives in making decisions. Financial managers work in various roles like controllers, treasurers, credit managers, cash managers, and risk managers. They prepare financial statements, analyze market trends, ensure legal requirements are met, and help management with financial decision making. Financial managers need strong analytical skills and the ability to communicate effectively.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4

    What does a financial manager do?

    97% Match?

    Would you make a good financial manager? Take our career test and find your top
    matches from over 800 careers.

    Take the free career test LEARN MORE

    What is a Financial Manager?


    Financial managers are responsible for the financial health of an
    organization. They produce financial reports, direct investment
    activities, and develop strategies and plans for the long-term financial
    goals of their organization. Financial managers work in many places,
    including banks and insurance companies.

    Financial managers increasingly assist executives in making


    decisions that affect the organization, a task for which they need
    analytical ability and excellent communication skills.

    In this article:

    What does a Financial Manager do?


    The role of the financial manager, particularly in business, is
    changing in response to technological advances that have
    significantly reduced the amount of time it takes to produce financial
    reports. Financial managers’ main responsibility used to be
    monitoring a company’s finances, but they now do more data
    analysis and advise senior managers on ideas to maximize profits.
    They often work on teams, acting as business advisors to top
    executives.
    Financial managers typically do the following:

     Prepare financial statements, business activity reports, and


    forecasts
     Monitor financial details to ensure that legal requirements are met
     Supervise employees who do financial reporting and budgeting
     Review company financial reports and seek ways to reduce costs
     Analyze market trends to find opportunities for expansion or for
    acquiring other companies
     Help management make financial decisions

    Financial managers also do tasks that are specific to their


    organization or industry. For example, government financial
    managers must be experts on government appropriations and
    budgeting processes, and healthcare financial managers must know
    about issues in healthcare finance. Moreover, financial managers
    must be aware of special tax laws and regulations that affect their
    industry.

    The following are examples of types of financial managers:


     Controllers direct the preparation of financial reports that
    summarize and forecast the organization's financial position, such
    as income statements, balance sheets, and analyses of future
    earnings or expenses. Controllers also are in charge of preparing
    special reports required by governmental agencies that regulate
    businesses. Often, controllers oversee the accounting, audit, and
    budget departments.
     Treasurers and finance officers direct their organization's budgets
    to meet its financial goals. They oversee the investment of funds.
    They carry out strategies to raise capital (such as issuing stocks or
    bonds) to support the firm's expansion. They also develop financial
    plans for mergers (two companies joining together) and acquisitions
    (one company buying another).
     Credit managers oversee the firm's credit business. They set
    credit-rating criteria, determine credit ceilings, and monitor the
    collections of past-due accounts.
     Cash managers monitor and control the flow of cash that comes in
    and goes out of the company to meet the company's business and
    investment needs. For example, they must project cash flow
    (amounts coming in and going out) to determine whether the
    company will not have enough cash (and will need a loan),
    or will have more cash than needed (and can invest some of its
    money).
     Risk managers control financial risk by using hedging and other
    strategies to limit or offset the probability of a financial loss or a
    company’s exposure to financial uncertainty. Among the risks they
    try to limit are those due to currency or commodity price changes.
     Insurance managers decide how best to limit a company’s losses
    by obtaining insurance against risks such as the need to make
    disability payments for an employee who gets hurt on the job, and
    any costs imposed by a lawsuit against the company.
    Are you suited to be a financial manager?
    Financial managers have distinct personalities. They tend to be
    enterprising individuals, which means they’re adventurous,
    ambitious, assertive, extroverted, energetic, enthusiastic, confident,
    and optimistic. They are dominant, persuasive, and motivational.
    Some of them are also investigative, meaning they’re intellectual,
    introspective, and inquisitive.

    Does this sound like you? Take our free career test to find out if
    financial manager is one of your top career matches.

    Take the free test now Learn more

    What is the workplace of a Financial Manager like?


    Financial managers work closely with top executives and with
    departments that develop the data that financial managers need.
    They can be employed in many different environments including both
    public and private sectors, such as multinational corporations,
    retailers, financial institutions, NHS trusts, charities, manufacturing
    companies, universities, and general businesses.

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