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RESPONSIBILITIES OF FINANCIAL MANAGEMENT IN THE FIRM
Financial management in many ways is an integral part of the jobs of managers who are involved in planning, allocation of resources, and control.
The responsibilities for financial management are dispersed throughout the organisation. For example:-
The engineer, who proposes a new plant, shapes the investment policy of the firm.
The marketing analyst provides inputs in the process of forecasting and planning.
The sales manager has a say in the determination of ---receivables policy.
Departmental managers, in general, are important links in the financial control system of the firm
There are, however, many tasks of financial management and allied areas (like accounting) which are specialised in nature and which are attended to by specialists.
These tasks and their typical distribution between the two key financial officers of the firm, the treasurer and the controller, are shown in table. It may be noted that the treasurer is concerned mainly with the task of financing and activities relating there - to and the controller is concerned with accounting and control.
In a large organisation the functions of the treasurer and controller and typically supervised by a fmancial vice-president or fmance director, whose position and stand is clearly depicted.
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