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Finance Short-Answer Essays - Essay Example
Finance & Accounting
Pages 8 (2008 words)
Finance and Accounting Name University Finance and Accounting Roles “The fundamental success of a strategy depends on three critical factors: a firm’s alignment with the external environment, a realistic internal view of its core competencies and sustainable competitive advantages, and careful implementation and monitoring” (Porter, 1996)…
Financial aspect within any organisation is considered to be an internal review and the financial managers are the ones responsible for financial planning in such a way that it is embedded within the entire strategic plan to give favourable results for the organisation both in the long-run and the short-run. Financial managers are supposed to manage a firm’s resources so that it can meet its goal and objectives. The major aim of a financial manager is to examine the financial data of any given organisation and to give recommendation to the top management regarding strategies that would improve the financial performance of a company. The different role of a financial manager include capital budgeting decisions, capital structure decisions, providing tactical advice over merger and acquisitions, dividend policy decision and all other investing decisions that may involve portfolio management as well. All these different roles and functions merge together to form the basis of any strategic plan and these financial matters help in understanding the growth that a company will make with reference to its profitability and long term growth. Sales Forecast Forecasting is usually used by companies to estimate future results. ...
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