Role of Financial Manager When I think of a financial manager, accountant quickly comes to mind. The role of accountant and financial manager are similar in several ways and often times they work closely together on various projects.
Get Full Essay Get access to this section to get all help you need with your essay and educational issues. The role of the financial officer, thus, becomes crucial to meet these technological, economic and political, changes. The role of the financial manager is undergoing enormous change.
Managing physical and even working capital will become less and less important as the focus of finance shifts increasingly to intangible assets.
How these assets are valued and nurtured will have little to do with accounting goals. Because of these challenges, a finance manager is a partner to the CEO who is actively involved in anticipating industry trends, launching new ventures, valuing intangible assets, and managing business options far more dynamic.
The financial manager also is leading the effort to align the strategic plan with the new operating mode, change the organization structure, build the information systems and infrastructure, and develop the reporting and measures required to enable the enterprise to operate as smaller, independent business units.
The fortification of finance is the driver of change. From safeguarding the assets of the company to being answerable to investors, finance is the voice of organization. The meteoric growth in the use of Internet has compelled the corporate word to take a second look at the factors that drive their businesses.
The old rules no longer work in the new arena. In the hi-tech age, one can no longer group fundamental activities and manage them collectively. Enterprise resource planning systems provide companies with the ability to operate, manage and control the fundamental activities of businesses as individual entities.
The accountant prepares financial statements on a periodic such as quarterly basis, to prepare and file tax returns, and to provide information and reports to other managers.
Accountants have moved more and more into the role of becoming business advisors. The role of the accountant is now less about the integrity of the numbers produced and more about strategy and assurance.
An organization could go a long way with a well-structured business plan. The accountants are now center stage. A manager cannot make sound financial decisions without understanding the accounting information.
The need for careful financial management remains an ongoing challenge in the business world. A good financial manager should be more than just the traditional manager, he or she should lead and help bring the company to a new level of functioning.
As the corporate world moves forward so does the function of the accountant and financial manager. With years they seem to have become more complex functions that are profoundly involved in the financial activities of a firm in order to help develop strategies and implement long-term goals for their organization.
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Role of the Financial Manager The role of the financial manager has changed drastically during recent years. Previously, financial managers were seen as the stewards of the organization, since they were responsible to ensure the accountability of all organizational assets and to .
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Essay Roles of Deregulation on Banking Sector. What roles have deregulation, innovation, and globalization played in changing the character of bank management in recent decades?
Has the overall outcome of the changes been greater stability in the banking sector? Discuss the respective roles of asset and liability management in modern banking. The role of banks in economic development is to remove the deficiency of capital by stimulating savings and investment.
A sound banking system mobilizes the small and scattered savings of the community, and makes them available for investment in productive enterprises. Then it will provide all the responses from the bank customers that will help to evaluate how they are satisfied with the customer service of the bank, what service still needs improvement and if customers give importance to good service of the bank in choosing their banking needs.