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Financial
Management:
Overview and Role
and Responsibilities
Financial Accounting

 Post Views: 236

Overview:
Financial management is an art

of managing, planning, directing

and controlling financial

resources of entity to nest

interest of entity as a whole and

for the benefit of shareholders.

These are what make financial

management become more

importance in the business

today. In corporation, financial

management functions are

performed by people working in

finance department or finance

division.

These group of people have

different titles including finance

manager, finance controller,

chief financial officer and

finance director. They normally

have professional qualifications

like CA, ACCA, CPA, and CFA.

And some of those also holder

BA, MBA, DBA in finance and

accounting.

In this article, we will talk about

the major roles and

responsibilities

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Roles and Responsibilities:

The following are the main role

and responsibilities related to

financial management. Please

noted, these role and

responsibilities are not limited

to someone who work as

finance manager, or finance

controller. These roles and

responsibilities are for all

executive person that works in

the high level related to

Financial Management. They

could be finance manager,

finance controller, strategic

financial manager, head of

finance and finance director.

Working Capital
Management
Working capital management is

one of the most importance

function of financial

management. They need to

make sure that the entity short

term capital assets (current

assets) be able to cover short

term liabilities. This will involve

with cash flow forecasting by

concerning with up coming cash

collection and expenses over

the short term like one month,

three months, and six months.

For example, financial

management need to make

sure that there are enough

inventories in the warehouse

for operation and making sure

that they will not run out of

stock.

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financial management always

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