Financial manager

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

The rapid development of the market has led to the emergence of many previously unknown professions. Management has become a special direction in the work of many companies. These are methods of management in which all areas of activity are affected. Depending on the assigned functions, such an employee may perform various duties. For example, control and organization of sales or financial management.

Economic relations involve the management of capital and other funds of the company. Business consolidation has led to a demand for specialists who can professionally conduct financial affairs and keep them properly accounted for.

A financial manager is a manager who combines an accountant and a specialist who knows the market situation at the same time. He manages cash flows so that the efficiency of their use becomes even greater, and the company's goals are achieved in the shortest possible time.

Financial manager - a person reporting to the director of finance

This position involves the performance of several functions. Firstly, it is the achievement of a balance between material and financial resources in the process of capital turnover. Secondly, it is a distributive function, which implies the correct direction of cash flows. This is also the creation of funds and the competent use of their funds. The last function is control over all financial resources and comparison of the received profit with the expected result.

The main task that a financial manager performs is to maximize profits with minimal production costs. He must also restructure assets and liabilities to ensure their reasonable balance.

The duties of a financial manager include finding sources of additional income from related activities, from the sale of unused types of property, long-term investments and fixed assets.

He should revise his pricing policy in accordance with market conditions in order to increase sales revenue. He is also responsible for improving financial relations with subsidiaries.

If a company is large, then its staff has a group of people who deal with financial flows. The initial task that a financial manager performs is to build an organization structure that allows efficient distribution and control of funds.

He is obliged to reveal the size of the company's need for financial injections. The search for alternative sources of funds and their development with the final result is welcome.

A financial manager should always be aware of the current market situation. It controls fluctuations in supply and demand, as well as the price level.

That is why a person applying for this position must be sociable, economically educated, inquisitive, striving for self-improvement. He must be well versed in the structure of the market and finance. The well-being and prosperity of any company depends on his work.