Functions of Finance Executive, Finance Treasurer & Finance Controller
|Financial Management |
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|Functions of Finance Executive, Finance Treasurer & Finance Controller |
| |
|3/16/2012 |
| |
|Hemnath K.N |
FINANCE EXECUTIVES FUNCTIONS
Executive finance functions include all those financial decisions of importance which require specialized administrative skill. Some of the executive functions are given below:-
FINANCIAL FORECASTING
The first and foremost function of financial management is to forecast the financial needs of the concern. In the initial stage, it is done by promoters but in a going concern, it is generally performed by the executive chief or by the officers of the finance-department in a large scale enterprise. In estimating the financial requirements of the concern, help of various budgets i.e., sales budget, production budget etc., profit and loss account and Balance Sheet is sought.
ESTABLISHING ASSET-MANAGEMENT POLICIES
In order to estimate and arrange for cash requirements of an enterprise, it is very necessary to decide how much cash will be invested in non-cash assets, i.e., fixed assets, and also the kind and coverage of insurance that a company will carry. Establishing a sound asset management policy is a pre-requisite to successful financial Management. No doubt the financial manager in deciding about the asset-management policies seeks cooperation of marketing executive in making decisions involving the carrying of inventories
| |
|Functions of Finance Executive, Finance Treasurer & Finance Controller |
| |
|3/16/2012 |
| |
|Hemnath K.N |
FINANCE EXECUTIVES FUNCTIONS
Executive finance functions include all those financial decisions of importance which require specialized administrative skill. Some of the executive functions are given below:-
FINANCIAL FORECASTING
The first and foremost function of financial management is to forecast the financial needs of the concern. In the initial stage, it is done by promoters but in a going concern, it is generally performed by the executive chief or by the officers of the finance-department in a large scale enterprise. In estimating the financial requirements of the concern, help of various budgets i.e., sales budget, production budget etc., profit and loss account and Balance Sheet is sought.
ESTABLISHING ASSET-MANAGEMENT POLICIES
In order to estimate and arrange for cash requirements of an enterprise, it is very necessary to decide how much cash will be invested in non-cash assets, i.e., fixed assets, and also the kind and coverage of insurance that a company will carry. Establishing a sound asset management policy is a pre-requisite to successful financial Management. No doubt the financial manager in deciding about the asset-management policies seeks cooperation of marketing executive in making decisions involving the carrying of inventories