Financial managers are responsible for the financial health of an organization. 2. Financial Manager responsibilities include: Providing financial reports and interpreting financial information to managerial staff while recommending further courses of action. THE UTILIZATION OF FUNDS WAS CONSIDERED BEYOND THE PURVIEW OF FINANCE FUNCTION The role of the financial manager may be categorized into three. B. person’s … Finance manager, as a matter of fact, was regarded as specialized staff officer in the company concerned only with administering sources of funds. Is the CEO higher than the CFO? Furthermore, he has to evaluate the effectiveness of financial decisions in the light of some standards. The first objective of the accounting activity is to deliver information necessary for the measurement of the company’s performance. Finance manager was responsible only for maintaining financial records, preparing reports on the company’s status and performance and arranging funds needed by the … Financial decisions and controls: Financial management and financial managers play a crucial role in making financial decisions and exercising control over finances in the organization. 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One, the investment decision. Finance Manager duties and responsibilities of the job They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization. Some financial managers specialize in an area such as insurance, cash management or accounting control. Finance is a broad field that covers economics, accounting, business development, stock markets, investments, banking, and insurance. normally responsible for the accounting activities, like tax management, cost, and financial accounting. finance, material and human resources (Pocztowski 1997). Finance managers act as the responsible party for the financial health of an organization. Proper utilization of funds b. Traditionally, the financial manager's role was that of a steward, being mainly involved in managing financial accounting, reporting, and cost controlling. Let's look at some of these roles. J. Penc equally conceives the manager, i.e. Related Questions on Financial Management, More Related Questions on Financial Management. Finance managers act as the responsible party for the financial health of an organization. C. acquiring capital assets of the organization, IN TRADITIONAL APPROACH WHEN TERM ''CORPORATION FINANCE" WAS USED TO WHAT WE KNOW TODAY AS ''FINANCIAL MANAGEMENT'' ACCORDING TO TRADITIONAL APPROACH FINANCE FUNCTION WAS CONFINED TO ONLY PROCUREMENT OF FUNDS NEEDED BY BUSINESS ON MOST SUITABLE TERMS. Key Takeaways Key Points. Financial managers require an in-depth working knowledge of the entire financial industry. This site uses Akismet to reduce spam. Advising on investment activities and provide strategies that the company should take; Maintaining the financial health of the organization. Financial goals of their organization resources ( Pocztowski 1997 ) external financial reporting, of. 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