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evaluate the role of finance director in an organisation of your choice. - Essay Example
Author : connearnest
Finance & Accounting
Pages 6 (1506 words)
During 2005, Tesco Plc’s Finance Director was Andrew Higginson (Cullen, 2009). The finance director’s primary functions include reducing the financial risks of the company’s daily…
The finance director, especially Tesco Plc’s finance director, has other functions (Brealey, 2011). The other functions include setting up and spearheading the implementation of the strategically planned financial plans towards accomplishing established company goals and objectives. In addition, the finance director is fully responsible for the subordinates’ safekeeping and true and correct recording of all financial reports of the company. Correspondingly, the finance director must analyse the financial data as a tool for recommending future finance-related management and marketing strategies.
The Tesco finance director reports to other top level corporation officers (Megginson, 2008). The finance directors reports to the chief executive officer. Likewise, the finance director presents the financial position of the company to the board of directors the board of directors are the investors of the company. As investors, the members of the board of directors are part owners of the corporation. The other owners of the corporation are the investors or stockholders who are not members of the board of directors. Likewise, the finance director attends meetings of the board of directors. During the attendance, the finance director presents his financial reports. The financial reports include the prior accounting period’s financial position accounts.
There are other functions of the finance director, including Tesco Plc’s finance director (Melicher, 2008). The finance director monitors and manages the finance department of the company. The finance department includes the accounting department, the budget department, and the treasury department. The treasury department is in charge of safekeeping the corporation’s cash and other cash equivalent accounts. Further, the finance director contributes his share to ensuring the budget amounts hasten the accomplishment of strategic company targets and benchmarks. The finance ...