Functions of Financial Manager: - The financial manager is a associate of top management. He is intimately associated with the formulation of financial policies as well as financial decision making. He is expected to carry out the following functions:

(1) Financial Planning: - The financial manager approximation the financial needs of the business and determines the capital structure and prepares financial plan.

(2) Procurement of Funds: - He arranges to obtain the funds from various sources such as shares and debentures etc.

(3) Coordination: - He sustains a proper coordination among the financial needs of different departments.

(4) Control: - He ascertains the standards of financial performance and examines whether the actual performance is according to predetermined standards. He is accountable for:

• Controlling the Costs
• Analysing the Profits
• Preparation of Reports

(5) Business Forecasting: - He keeps continues watch on the various events affecting the organization such as:

• Technological Changes
• Competition
• Change in Govt. Policy
• Change in social and business environment and studies their effect on the firm.

(6) Other Functions: Other functions we comprise:

• Cash Management
• Banking Relations
• Credit Management
• Assets Management
• Securities Management
• Accounting
• Internal Auditing

Posted Date: 8/3/2013 3:37:34 AM | Location : United States

Ask an Expert

Related Discussions:- Functions of financial manager, Assignment Help, Ask Question on Functions of financial manager, Get Answer, Expert's Help, Functions of financial manager Discussions

Write discussion on Functions of financial manager
Your posts are moderated

Write your message here..

Related Questions

Illustrate the meaning of gearing, Illustrate the meaning of Gearing G... Illustrate the meaning of Gearing Gearing is the relationship between equity anddebt. Debt is typically long term liabilities that the organisation has. Equity is all the shar

Cash flow statements, Cash flow statement: The cash flow statement summ... Cash flow statement: The cash flow statement summarises the flow of cash into and out of the business over a certain period of time. The cash flow statement measures the liq

Define u.s. dollar and the canadian dollar, Under what circumstance would t... Under what circumstance would the U.S. dollar and the Canadian dollar be said to have achieved purchasing power parity? The U.S. dollar and the Canadian dollar would be referred

Differentiate between systematic and unsystematic risk, QUESTION a) Dis... QUESTION a) Discuss the importance of diversification in the context of stock markets using appropriate numerical illustrations. b) Mimine and Minush are two companies with

Explain safe harbour rule, Q. Explain Safe Harbour Rule? Safe Harbour R... Q. Explain Safe Harbour Rule? Safe Harbour Rule - Concept in statutes and regulations whereby a person who meets listed requirements would be preserved from adverse legal actio

Mergers and acquisitions, Mergers and Acquisitions It is a Process of b... Mergers and Acquisitions It is a Process of business combination. There are 3 forms of business combination: 1. M1.    M1 has the highest liquidity. This is the narrowest t

Cost of capital, the nu-nu brothers inc. (NNBI) has the following capital s... the nu-nu brothers inc. (NNBI) has the following capital structure,

Cvp, Info on applying CVP to product mix limiting factors Info on applying CVP to product mix limiting factors

Price of equity shares, please give us the formula of price of equity share... please give us the formula of price of equity shares of walter''s and gordon''s model

Savage friedman, Question: (a) Describe the axioms of utility. (b) An eco... Question: (a) Describe the axioms of utility. (b) An economic agent has a logarithmic utility function, U(W) = lnw and has initial wealth $20,000. She is offered the subsequent g