Functions of financial manager, Financial Management

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

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