The role of a Financial Manager

Ph.D.
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The Financial Manager (FM) is the person responsible for supervising and keeping in existence the organization’s financial policies…

Introduction

ving an organization – one involving the movement of money from investors into the organization, and the other half including the movement of money from the organization to the same investors (MBA Alliance).
Nearly every business organization, whether in the private or public sector, employs at least one FM. His or her duties vary slightly according to the size of the organization. A typical FM is required to perform 5 roles – that of a Controller, Treasurer, Credit Manager, Cash Manager and Risk & Insurance Manager (U.S. Bureau of Labor Statistics).
As a Controller, the FM controls and supervises the organization’s accounting, auditing and budget departments. Controllers are in charge of preparing financial reports which may be regular {covering the organization’s financial status, like income statements and balance sheets}, special {government authorities frequently demand the preparation of special reports of specific nature}, which requires the FM to be well-educated in Federal and State laws and regulations that govern the industrial sector to which the organization belongs, and futuristic {estimation of future earnings and expenses}. The vast technological advancement brought about by computers has greatly enhanced the ability of the FM to generate complex calculations in a very short period of time. Every FM makes maximum use of state-of-the-art computer systems and information services to analyze data and prepare plans on how to maximize profit for the organization. To do this, the FM takes pains to become well versed in computer technology and keep track of latest improvements in this sector (U.S. Bureau of Labor Statistics).
As a Treasurer {also called Finance Officer}, the FM organizes and controls the organization’s financial goals, targets and plans for allocating resources. He or she supervises the functions of investing money for the purpose of making profit, makes provisions to handle related risks, oversees cash management functions, ...
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