Role Of Financial Manager
Role of the Financial Manager
The role of the financial manager has changed drastically during recent years. Previously, financial managers were seen as the stewards of the organization, since they were responsible to ensure the accountability of all organizational assets and to generate accurate financial reports. Today, their main goal is to maximize shareholder value. In order to achieve this goal, they have to be information managers, cost managers, controllers, consultants, and risk managers. However, there are critics that disagree with this shareholder value approach. Instead, in order to ensure long-term sustainability, financial managers should be focusing on the stakeholder value.
Financial manager's role
Traditional roles
Financial managers are often called controllers, treasurers, and financial officers in bigger organizations. Traditionally, the financial manager's role was that of a steward, being mainly involved in managing financial accounting, reporting,......
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