What is the financial manager doing?
The financial manager is in charge of features involving money in a large or small organization. Although it is responsible for the management of the enterprises or the Board of Directors, it has the power to decide on revenue, costs, payroll, investments, mergers and acquisitions. This person will often work closely with other members of the management team in matters that can affect the organization's financial health. Managers of corporate money are perhaps the most common type of financial manager, but most organizations dealing with large amounts of capital, including non -profit organizations and governments, need.
types of financial managers
The name "Financial Manager" is a catch that describes a wide range of positions; The actual titles of work differ depending on the obligations of the person and the structure of the organization of the organization. Those on the upper part of the corporate ranking can be called treasurers, financial officers or inspectors, and their influence ofDesets is off the financial area. On the other hand, the administrationCi cash and credit administrators deal with the specifics of everyday flow in cash and loan. Risk managers and insurance managers deal with the uncertainty of the economy, including the trade in shares, insurance and legal questions.
specific duties
The financial manager monitors all aspects of the organization's finance and usually oversees the employees working in this area. This person prepares and brings a statement and reports that they summarize the financial activities of the company to the parties within the organization and outside the organization. He or she also consults with tax representatives and prepares tax statements and payments. In corporate financing, work may include recommendations for management in matters such as cost reduction and feasibility of merging with other companies or acquiring other companies.
Laws and regulations
In addition to the internal requirements of their organizations, these managers must securet, that all financial activities are in line with local and national regulations. In many countries, a comprehensive set of laws is introduced to prevent the financial way of the financial way, and financial managers may be considered to be responsible as the unethical behavior of their clients, even if they are only consultants. For example, in 2002, Arthur Andersen was associated with the financial offenses of its company client Enron and both companies as a result.
skills and education
Detailed knowledge of mathematics, economics and all valid laws is essential for people who work in financial proceedings. The minimum requirement is a bachelor's degree in the field of finance or related areas, although individuals who plan to proceed in their career often receive a master's degree. People can also get certified from a professional group like Chartered Fininstitut Analyst Analyst, but that's not necessary. The most important is a thorough understanding of how růIts activities affect the lower limit of the organization, and this knowledge can often be best learned during the years of direct experience.
progress
Finance Management is usually a high -level position and an ambitious financial manager is usually promoted to a position after work related, such as a financial analyst, accountant or auditor. Some companies provide training in finance management. Many financial managers who work for large corporations have managed to secure these jobs after successful points with smaller companies in the same capacity.
As Executive Director, an ambitious financial manager can advance to a corporate position, such as the Vice President for Finance or CFO (CFO) or other managerial roles. On the other hand, some individuals prefer to initiate their own consulting companies in accounting, investment or rnada fields. Their detailed knowledge of enterprises can be an advantage in operating their own companies.