what are the roles and responsibilities of a financial manager?

Expert Solution

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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