MBA News | MBA Jobs | MBA Students | MBA Aspirants | MBA Forums
--- CoolAvenues.Com ---
Home    |     MBA Jobs     |     Knowledge Zone     |     Seminars     |     Placement Report     |     Admission Alert      |   MBA Forums
CAT/ MAT/ XAT/ JMET    | CAT 2009    |   Executive MBA    |   GMAT    |   Help Line    |   Online MBA Help   |   Buy/Sell    |   Cafe   |   Gadgets  

Go Back   MBA Forums :: CoolAvenues.com > MBA Alumni Area : Management Knowledge Discussion Area > Finance Zone

Reply
 
Thread Tools Rating: Thread Rating: 2 votes, 5.00 average. Display Modes
Old 08-04-2007   #1
kartikshah07
Rookie
 
Join Date: Jun 2007
Location: mumbai
Posts: 2
Thanks: 0
Thanked 0 Times in 0 Posts
Default Responsibilities Of Finance Manager In Company

hi dudes,
THOSE WHO HAVE MBA (FIN) DEGREE PLEASE GUIDE
I PASSED B.COM FROM MUMBAI UNIVERSITY IN 2007. I WANT TO MAKE
MY CAREER IN FINANCE. I WANT TO KNOW DIFFERENCE BETWEEN ROLE OF AN MBA FINANCE AND CHARTERED ACCOUNTANT IN A CO. WHAT WILL
BE THE RESPONSIBILITIES OF MBA FINANCIAL MANAGER.
" PLEASE LIST THE RESPONSIBILITIES OF AN FM "
kartikshah07 is offline   Reply With Quote
Old 10-22-2010   #2
dlotus205
Guest
 
Posts: n/a
Default Re: Responsibilities Of Finance Manager In Company

I hope that this article is useful for you.

What are the responsibilities of finance manager?

Almost every firm, government agency, and organization has one or more financial managers who oversee the preparation of financial reports, direct investment activities, and implement cash management strategies. As computers are increasingly used to record and organize data, many financial managers are spending more time developing strategies and implementing the long-term goals of their organization.

The duties of financial managers vary with their specific titles, which include controller, treasurer or finance officer, credit manager, cash manager, and risk and insurance manager. Controllers direct the preparation of financial reports that summarize and forecast the organization's financial position, such as income statements, balance sheets, and analyses of future earnings or expenses. Controllers also are in charge of preparing special reports required by regulatory authorities. Often, controllers oversee the accounting, audit, and budget departments. Treasurers and finance officers direct the organization's financial goals, objectives, and budgets. They oversee the investment of funds and manage associated risks, supervise cash management activities, execute capital-raising strategies to support a firm's expansion, and deal with mergers and acquisitions. Credit managers oversee the firm's issuance of credit. They establish credit-rating criteria, determine credit ceilings, and monitor the collections of past-due accounts. Managers specializing in international finance develop financial and accounting systems for the banking transactions of multinational organizations.

Cash managers monitor and control the flow of cash receipts and disbursements to meet the business and investment needs of the firm. For example, cashflow projections are needed to determine whether loans must be obtained to meet cash requirements or whether surplus cash should be invested in interest-bearing instruments. Risk and insurance managers oversee programs to minimize risks and losses that might arise from financial transactions and business operations undertaken by the institution. They also manage the organization's insurance budget.

Financial institutions, such as commercial banks, savings and loan associations, credit unions, and mortgage and finance companies, employ additional financial managers who oversee various functions, such as lending, trusts, mortgages, and investments, or programs, including sales, operations, or electronic financial services. These managers may be required to solicit business, authorize loans, and direct the investment of funds, always adhering to Federal and State laws and regulations. (Chief financial officers and other executives are included with top executives elsewhere in the Handbook.)

Branch managers of financial institutions administer and manage all of the functions of a branch office, which may include hiring personnel, approving loans and lines of credit, establishing a rapport with the community to attract business, and assisting customers with account problems. Financial managers who work for financial institutions must keep abreast of the rapidly growing array of financial services and products.

In addition to the general duties described above, all financial managers perform tasks unique to their organization or industry. For example, government financial managers must be experts on the government appropriations and budgeting processes, whereas healthcare financial managers must be knowledgeable about issues surrounding healthcare financing. Moreover, financial managers must be aware of special tax laws and regulations that affect their industry.

Financial managers play an increasingly important role in mergers and consolidations, and in global expansion and related financing. These areas require extensive, specialized knowledge on the part of the financial manager to reduce risks and maximize profit. Financial managers increasingly are hired on a temporary basis to advise senior managers on these and other matters. In fact, some small firms contract out all accounting and financial functions to companies that provide these services.

The role of the financial manager, particularly in business, is changing in response to technological advances that have significantly reduced the amount of time it takes to produce financial reports. Financial managers now perform more data analysis and use it to offer senior managers ideas on how to maximize profits. They often work on teams, acting as business advisors to top management. Financial managers need to keep abreast of the latest computer technology in order to increase the efficiency of their firm's financial operations

Sucess to you
  Reply With Quote
Old 11-02-2010   #3
MBACrystalBall
Active Member
 
Join Date: Oct 2010
Institute : University of Cambridge
Company : MBA Crystal Ball
Location: Mumbai
Posts: 32
Thanks: 1
Thanked 0 Times in 0 Posts
Default Re: Responsibilities Of Finance Manager In Company

The scope of the role also fluctuates widely depending on the size of the company and the number of finance professionals available inhouse to do the job.

In a smaller company you might be getting involved in non-finance activities as well. In a bigger company, the role might be very specialised and you might just be handling a very niche portfolio.

So go beyond the designation and look at what specifically you want to do in the company.

Good luck.
MBACrystalBall is offline   Reply With Quote
Old 03-17-2011   #4
Nawin123
Rookie
 
Join Date: Mar 2011
Institute : IICC
Company : cbm
Location: stamford
Posts: 1
Thanks: 0
Thanked 0 Times in 0 Posts
Default Re: Responsibilities Of Finance Manager In Company

This is very nice way you have explain the responsibilities of finance manager. Economics is very important issue and one need to be very careful in its all aspects, as economical crisis affects the quantitative easing of country.
Nawin123 is offline   Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Diff between Project Finance, Corporate Finance, & Structured Finance arvind.tyagi Finance Zone 8 08-09-2012 07:27 PM
Finance Director Vs Marketing Director supriyachouhan Finance Zone 3 01-18-2010 08:48 AM
Summers - finance madam L Summers Help Line! 11 12-03-2009 03:06 PM
Case Study Help supriyachouhan MBA Students / B-Schools Projects 8 04-23-2009 02:28 PM
will finance course help in getting thru GMAT? Dr_kumar GMAT & MBA abroad Help Line! 3 07-14-2007 09:38 AM

All times are GMT +5.5. The time now is 05:05 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Copyright 2006-2015 Zebra Networks

CoolAvenues.com message boards are designed for a community of insiders and observers. CoolAvenues.com reserve the right to delete or modify off-topic posts or posts that violate the Rules of the Board. The opinions expressed on CoolAvenues.com Message Boards reflect the opinions of the participants and not of CoolAvenues.com

CoolAvenues logo & design template are exclusive copyright of Zebra Networks 2004-20012
All copyrights with Zebra Networks. Part or full of the contents can not be published, copied or reproduced
in any form without the prior written exclusive permission of Zebra Networks. Pls refer to CoolAvenues Copyright section.