In: Finance
Financial managers are responsible for the financial health of
an organization. They take importatnt decisions in Capital
Investments.Financial manager plays a key role in data analysis and
advise senior managers on profit -maximizing ideas. Financial
managers also do tasks that are specific to their organization or
industry. For example, government financial managers must be
experts on government appropriations and budgeting processes, and
healthcare financial managers must know about issues in healthcare
finance. Moreover, financial managers must be aware of special tax
laws and regulations that affect their industry.
Roles and Responsibilities
of a Financial Manager
1. Review company financial reports and seek ways to reduce
costs
2. Fiancial Mangers monitor financial details to ensure to meet the
all legal requirements 3. Analyze market trends to find
opportunities for expansion or for acquiring other companies 4.
Predicting future financial trends
5. Overseeing the flow of cash and financial instrument 6. Ensuring
compliance with applicable laws and procedures 7. Monitor the
day-to-day financial operations within the company, such as
payroll, invoicing, and other transaction 8. Review financial data
and prepare monthly and annual reports 9.Present financial reports
to board members, stakeholders, executives, and clients in formal
meetings 10.Stay up to date with technological advances and
accounting software to be used for financial purposes
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