1. What are the three major functions of a financial manager? How are they related?


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Meg Hayes Profile
Meg Hayes answered
There appears to be more than three major functions of a finance manager although below are some explanations of the different job roles that a finance manager may have.

The first role of a finance manager could be to establish the financial future of a company. To do this, they will need to get help from that company's product management team. One of the financial manager's main jobs will be to write financial forecasts for the company, based on information and statistics of the previous year. The finance manager is also responsible for keep the company's management up to data with any serious fluctuations in finance that may have an effect on the company's budget.

The finance manager is also responsible for discovering any possible improvements that could be made to the system. They must investigate a company's current procedures and policies to see if any improvements can be made. As they undergo this task, the finance manager must analyze the policies and see if they can save any money for the company, if changes they suggest are incorporated.

Another task that the finance manager must deal with is preparing an analysis that outlines the monthly cost of goods. This is to make sure that their company is using the most affordable vendors and are staying inside their annual budget. This is another method that the finance manager could save the company money by securing the same materials and goods for less.

The final job of a finance manager is to create an operational analysis of data that will be submitted for publication. This job, if done properly, will help other heads of departments to make informed decisions about that particular department's performance. They will do this using publishing software by entering the monthly sale figures, along with production costs and any other information. The end result will be handed out to other branches of the company.

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