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Managerial finance function
Although it may be difficult to separate the finance function from production, marketing and other functions, yet the functions themselves can be readily identified. We may identify two kinds of finance functions:
1. Managerial finance functions
2. Routine finance functions
Managerial finance function are so-called because they require skillful planning, control and execution of financial activities. Routine finance functions, on the other hand, do not require a great managerial ability to carry them out. They are chiefly clerical and are incidental to the effective handling of the managerial finance functions.
The three important financial decisions such as investment (or asset mix) decision: financing (or capital mix) decision and dividend (or profit allocation) decision. Influence the production, marketing and other functions of the firm. This, in consequence, will affect-the size, growth, profitability and risk of the firm and ultimately, the value of the firm.
To quote Ezra Solomon,' . . . the function of financial management is to review and control decisions to commit or recommit funds to new or ongoing uses. Thus, in addition to raising funds, financial management isdixectlycerned with production, marketing and other functions within an enterprise'.
LIQUIDITY vs PROFITABILITY | MAXIMISATION OF RETURN | WEALTH MAXIMISATION | Constraints - Policy Decisions - Profitability | IMPLICATIONS OF WEALTH MAXIMISATION | Suppliers of Loan Capital | RELEVANCE OF WEALTH MAXIMISATION | Retaining earning and Undistributed profits | Managerial finance function | Functions of Financial Management | FINANCIAL FORECASTING | MANAGEMENT OF CORPORATION ASSET STRUCTURE | THE MANAGEMENT OF INCOME | MANAGEMENT OF CASH | DECIDING OUT NEW SOURCES OF FINANCE | CONTACT AND CARRY NEGOTIATIONS FOR NEW FINANCING | ANALYSIS AND APPRAISAL OF FINANCIAL PERFORMANCE | INCIDENTAL OR ROUTINE FUNCTIONS | CAPITAL BUDGETING DECISION | CURRENT ASSET MANAGEMENT | Maximisation of Share Value | RESPONSIBILITIES OF FINANCIAL MANAGEMENT IN THE FIRM | Functions of the Treasurer and Controller | TASKS OF FINANCIAL MANAGEMENT | CHALLENGES OF FINANCIAL MANAGEMENT | Gross and Net Savings | Household Savings | How to politely win when credit disputes and problems arise