- Pages: 2
- Word count: 396
- Category: Economics
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The role of the Finance Manager is the person who is takes full roles and responsibilities to advise and support the clients for making the best potential business choices for the future. The responsibilities of the finance manager will depend on how big the business or company actually is. The manager needs to collect and manage accounts in a small business and do the strategy analysis in a big business. He or she is in charge of every detail of finance the business undertakes. It doesn’t matter how big the company is. The manager sometimes may work at the private and public sectors often in small businesses like retailers, and have the role as the financial institutions to large scale businesses such as multinational or multimillion companies. The main duty of a financial manager is to advise the businesses customers, consumers and clients about the importance of budgetary planning and the financial implications of the business decisions as a whole.
Finance Manager: Responsibilities
There are many different responsibilities the finance manager will have. The bullet points below are a few main duties and responsibilities that the finance manager will be expected to complete. These are: * The finance manager has the main responsibility to provide an analysis and key understanding of the businesses financial information. * The finance manager has to monitor the cash flow appropriately to predict future financial trends for the business. * The finance manager has to identify the changes and then advise the clients and orders accordingly to plan. * The finance manager has to produce a plan of the businesses long term financial plan. Formulas and predictions will have to be made. * They will always have to be researching on the effective factors of the organisations performances. * The finance manager has to analyse the performance of competitors properly and the marketing trends as well. * They will have develop the management mechanism in the finances * A finance manger also needs to work with the auditors properly and manage the budget as well. * Will have to build and create an effective working relationship with many different professionals such as bankers. * It will be the responsibility of the finance manager to update the firm whenever is appropriate. * The financial manager has to make the contacts with the new sources for financing the firm’s debt facilities.