Role of the Financial Manager Comparing and contrasting the role of an accountant with the role of a financial manager is simple. A financial manager directs the actions and decisions of accountants. A financial manager is a vital part of a company team that works closely with the directors of such company. The financial manager also works with the latest hardware and software and is responsible for making very important decisions related and regulated by the state and federal governments and sanctions designed for effective and accurate financial reporting. Decision making responsibilities of a financial manager are performed in many roles.
Job Description
The Finance Manager, reporting to the Managing Director, is on the management team and is the line manager for the Finance Administrator. The Finance Manager will be responsible for:
the finance strategy of the company, which will be dependent upon the overall company strategy as agreed with the Managing Director;
providing clear Finance direction to the Managing Director and the management team based on the performance of the company, legal requirements and making recommendations where appropriate;
completion of any special project requirements.
Finance management
The Finance Manager is accountable for ensuring all aspects of Finance management are completed in an auditable fashion.
The Finance Manager will be accountable and responible for:
Writing and leading the consultation on the annual budget and delivering it on time.
Yearly forecasts being produced and management review of the forecasts on a quarterly basis. Producing cashflow forecasts and recommendations to assist in defining the forward strategy of the company.
Production of yearly annual accounts and any dealings with the auditors.
Producing timely and accurate monthly finance reports including a full review of the monthly performance prior to the management meeting. This includes production of the monthly finance, key performance indicators and management reports.
Cashflow management and establishing a relationship with the business bank manager regarding any funding requirements the company may have.
Review of commercial terms and confidentiality agreements for projects.
Ensuring Finance controls are in place throughout the organisation.
Developing Management Information Systems and Key Performance Indicators in line with the needs of the company.
Development of the project accounting of the company and ensuring all sales and costings are allocated to the relevant projects.
Providing Finance training to staff where appropriate.
The annual audit process and dealings with the external auditors.
Managing the Credit Control process to ensure debtor days are kept to a minimum.
Managing the sales ledger and to ensure that all relevant costs are invoiced to the customers .
Managing the payroll on a monthly basis.
Managing the preparation of monthly Balance Sheet reconciliations.
Supervising the purchase ledger and all duties applicable to the Finance administrator.
Ad hoc exercises as and when required.
The Finance Manager will oversee the profit recognition of the company, reporting controls of project costs and overhead expenditure.
meeting and repotrsFinance Manager will:
be accountable for delivering regular finance and office related status reports;
be accountable for delivering the budget and strategic plan in agreed timescales;
be accountable for delivering the year end accounts in an agreed timescale;
attend monthly management meeting;
liaise with Engineering Manager, Sales Manager and Marketing Manager.
the finance strategy of the company, which will be dependent upon the overall company strategy as agreed with the Managing Director;
providing clear Finance direction to the Managing Director and the management team based on the performance of the company, legal requirements and making recommendations where appropriate;
completion of any special project requirements.
Finance management
The Finance Manager is accountable for ensuring all aspects of Finance management are completed in an auditable fashion.
The Finance Manager will be accountable and responible for:
Writing and leading the consultation on the annual budget and delivering it on time.
Yearly forecasts being produced and management review of the forecasts on a quarterly basis. Producing cashflow forecasts and recommendations to assist in defining the forward strategy of the company.
Production of yearly annual accounts and any dealings with the auditors.
Producing timely and accurate monthly finance reports including a full review of the monthly performance prior to the management meeting. This includes production of the monthly finance, key performance indicators and management reports.
Cashflow management and establishing a relationship with the business bank manager regarding any funding requirements the company may have.
Review of commercial terms and confidentiality agreements for projects.
Ensuring Finance controls are in place throughout the organisation.
Developing Management Information Systems and Key Performance Indicators in line with the needs of the company.
Development of the project accounting of the company and ensuring all sales and costings are allocated to the relevant projects.
Providing Finance training to staff where appropriate.
The annual audit process and dealings with the external auditors.
Managing the Credit Control process to ensure debtor days are kept to a minimum.
Managing the sales ledger and to ensure that all relevant costs are invoiced to the customers .
Managing the payroll on a monthly basis.
Managing the preparation of monthly Balance Sheet reconciliations.
Supervising the purchase ledger and all duties applicable to the Finance administrator.
Ad hoc exercises as and when required.
The Finance Manager will oversee the profit recognition of the company, reporting controls of project costs and overhead expenditure.
meeting and repotrsFinance Manager will:
be accountable for delivering regular finance and office related status reports;
be accountable for delivering the budget and strategic plan in agreed timescales;
be accountable for delivering the year end accounts in an agreed timescale;
attend monthly management meeting;
liaise with Engineering Manager, Sales Manager and Marketing Manager.
I wrote and collected all the information regarding the role of finance manager in the company where the students will be well prepared ,as they will be stepping towards the company............so i think it vil be useful......................
2 comments:
dear,finance is the blood of business & trust me no company survive without the adequite fund.
finance manager carry heavy responsibilities on his shoulders.he plan, find resources, acquire, allocate, control the fund and make proper disposal of dividend. so it has great responsibility.. srinivas keep it up and try to improve it more
u hav done a gud job.i think it wud help an individual to noe abt his job profile if he wants 2 take up as a finance manager..even i understud something abt it.
Post a Comment