A Research On Financial Management

1461 WordsDec 12, 20146 Pages
INTRODUCTION This report describes on the first section a research about financial managers, which is covered with the job description, the roles, the skills & Knowledge, work environment and the rewards & job outlook. What is the financial management? “Financial Management means planning, organizing, directing and controlling the financial activities such as procurement and utilization of funds of the enterprise. It means applying general management principles to financial resources of the enterprise” (http://managementstudyguide.com/financial-management.htm, 2/12/2014). On the second section describes the author’s personal analysis of skills, the goals and ways of skill development. The purpose of this…show more content…
The generic nature of the job can be misleading and the activities and roles can be different as it depends on the size of the company. Generally some of the roles of a financial manager are to provide and interpret financial information, to formulate strategic and long-term business plans, to analyse competitors and market trends, to develop financial management mechanisms that minimise financial risk, to control income, cash flow and expenditure and to manage budgets. SKILLS & KNOWLEDGE The key skills for financial managers, which the employers looking for, are excellent communication, commercial and business awareness, self-motivation, the ability to work as part of a team, excellent problem-solving, time management, initiative, good IT, analytical approach to work and high numerical abilities and sound technical. It is also required knowledge in some sectors. More specific, in the sector of Economics and accounting, financial managers must have a thorough knowledge of economic and accounting principles and practice, financial markets, banking and the knowledge of analysing and reporting financial data. Secondly, in the sector of Administration and Management, they must have knowledge of business and management principles involved in strategic planning, HRM, leadership technique coordination of people and resources. Finally, in the sector of law and government, they need to have knowledge of laws, government regulations and the democratic
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