Who Is Financial Manager(CFO)
In this article we are going to discuss about who is financial manager, financial manager skills, financial manager salary, functions of financial manager,So let’s start CFO is the chief executive officer of the company’s financial procedures management, the duties of the financial manager is include tracking cash flow and financial planning as well as analyzing the company’s financial strengths and weaknesses and proposing corrective actions, similar to the Cashier or Treasurer Because they are responsible for managing the financial and accounting departments and ensuring the accuracy of the company’s financial reports and completing them in a timely manner.
CFO work closely with senior executives and departments to develop information required by financial managers. They can be employed in many different areas including public and private sectors, such as multinational corporations, retailers, financial institutions, NHS trusts, charities, production companies, universities and general businesses.
Financial Manager skills
- CA,CMA,MBA/PGDMA And B.Com In Commerce with relevant experience
- Ability to communicate with multiple onshore clients on all levels of seniority.
- Strong analytical skills as well as excellent problem solving skills.
- Practical knowledge of finance function and financial reporting process.
- Familiarity with Companies Act, SEBI and related regulatory requirements.
- Have knowledge about the taxation and statutory regulations for GST/TDS/other direct and indirect tax.
- Person shall be of Managerial level who has experience in handling team experience in handling end to end finalization of books of accounts and get the same audited.
How financial Manager Works
CFO reports to the CEO but has important inputs into the company’s investments and capital structure and how the company manages its income and expenses. They works with other senior managers and has an active role in the overall success of the company, especially in the long term. For example, when the marketing department wants to launch a new campaign, it may help the CFO ensure that the campaign is feasible or provide inputs to the funds available for the campaign.
The financial Executive may have an effective role in forecasting, analyzing the cost and benefit and obtaining financing for various initiatives in the financial industry. The CFO is the highest ranking and in other industries it is usually the third highest position in the company that the CFO can become a CEO of a company.
Functions of Financial Manager(CFO)
- They must report accurate information because many decisions are based on the data you provide.
- The Chief Financial Officer is responsible for managing the company’s financial activities and adherence to the generally accepted accounting principles established by the Securities and Exchange Commission and other regulatory entities.
- Financial account managers must also comply with regulations that include provisions such as preventing theft, disclosure of financial information, and financial fraud.
- CFO overseeing tax issues Usually the CFO is the point of contact between local residents and elected officials on accounting and other spending issues.
- Financial manager sets fiscal policy and is responsible for managing government funds.
- Preparation and presentation of various financial and accounting ratios
As a team leader assisting team members on day to day accounting issues, taxation issues, and reconciliations.
- Co-ordinating with inter department team members and other stakeholders for providing accounting resolutions keeping in mind the compliance aspects.
Financial Manager Salary In India
- 8,50,000 To 13,00,000 PA.