Premium Essay

Financial Managers

In: Business and Management

Submitted By DeathDealer0927
Words 706
Pages 3
Functional Areas of Business

University of Phoenix

Group ID: ON13MBA08

Course ID: MGT / 521

Dr. Jyotirmay Deb

Week 2

09/09/2013

The manager area in a business is very important in the fact that the managers work alongside many of the elements in the business. Managers help the human resource officers of a business in the hiring process of employees. For example they are responsible for the filing of tax forms and the interviewing process. They must understand the laws and business codes and ethics of hiring someone into a business. The managers then in turn are help accountable for the training of the employees at the business. They can not only train the employees, but use many of the new ideas that the employee is bringing to the table to help sell to the company in advancement into new and better goals. The managers of a business are there to oversee projects (project mangers / functional managers). These projects can be very valuable in building ongoing accounts and establishing new ones with clients nationally and internationally. Managers can be held accountable for the inventory at a business. The receiving and itemizing of new and old inventory is very important when dealing with a business. This could be the difference between profit and loss (“The Duties of a Business Manager”, 2013).

I will be focusing on a Functional Manager in a business. Functional managers are responsible for ensuring that the resources in the area are properly trained, evaluated, and motivated (Pitagorsky, 1998). In some organizations, big or small the functional manager can be responsible for the ongoing operations that are not directly related to his/her operation, and vice versa. There are two aspects to the functional managers role: administrative and technical leadership. The administrative...

Similar Documents

Premium Essay

Roles of a Financial Manager

...The role of the financial manager has in maximizing shareholders value is key to the achieving the goals of the shareholders. The financial manager performs double duty working toward achieving profits for the company and optimizing the shareholders value. The flexibility of having the ability to hear viewpoints from different angles to achieve the goals of both the shareholders and the company’s manager. Today’s financial manager must have the skills and strength to evaluate and assess risks to help their company maintain a competitive edge. The responsible of the financial manager in maximizing shareholders and use real-time financial information to take advantage of the latest opportunity to capitalize on an investment. According to the text the financial managers works to achieve the goals of shareholders because shareholders are the owners of the company that employs the financial manager. This can give rise to conflict when a manager makes decision because of the needed to make decisions based on shareholders approval and what is best for the company ongoing success. Sometimes the goals of shareholders can tempt the financial manager to make unethical decision in managers attempt to maximize the goals of the shareholder value. Other times companies will have a disregard of shareholders values and not only disregard reducing expenses but foster an environment where financial abuse takes place from renting luxury cars to doing business at the most......

Words: 738 - Pages: 3

Premium Essay

Financial Manager

...Financial Management February 07, 2012 Question2. 8 The Wendt Corporation has $10.5 million of taxable income (A) What is the company’s federal income tax bill for a year The solution Tax = $3,400,000 + (10,500,000 - $10,000,000) (0.35) = $3575,000 (B) Assume the firm receives an additional $1 million of interest income from bonds it owns. What is the tax on this interest income? The solution 1,000,000.00 x 0.35 = $3500, 000.00 (C) Now assume that Wendt does not receive the interest income but does receive an additional $1 million as dividends on some stock it owns. What is the tax on this dividend income? The solution is to use $1,000,000.00 x 0.105 = $105, 000.00 Q 3.6 Donaldson & Son has an ROA of 10%, a 2% profit margin, and a return on equity equal to 15%. What is the company’s total assets turnover? What is the firm’s equity multiplier? ROE = ROA x Equity Multiplier ROA = (Profit Margin) (Total asset turnover) 15 = 10 = 1.5 = Equity Multiplier 10/2 = 5 = Total Asset turnover S/TA = 5; TA/E = 1.5 Question 3.11 Complete the balance sheet and sales information in the table that follows for Hoffmeister Industries using the following financial data: Debt ratio: 50% Quick ratio: 0.80 Total assets turnover: 1.5 Day’s sales outstanding: 36.5 days Gross profit margin on sales: (Sales-Cost of goods sold)/Sales = 25% Inventory turnover ratio: 5.0 Balance Sheet for Hoffmeister Industries Cash ...

Words: 336 - Pages: 2

Premium Essay

Important Roles of the Financial Manager

...Important roles of the financial manager: The financial manager has a lot of roles, some important roles are: 1- First, he should select a target where he will invest the money; he should make a plan for the filed where he will take place in. 2- Second, he should think about different alternatives that offer money to begin the project, such as bank or a partnership. 3- Third, he begins turning these steps for a real work in the real life. He starts in day to day transactions or He began in the operation process. Note: financial manager is owner’s agent. المدير المالى يكون وكيل عن صاحب الشركه Important information: Stockholders are the owners of the business. اصحاب الاسهم : هم اصحاب العمل. Stakeholders are the external users who take advantages of the business. اصحاب المصلحه وهم الذين يستفيدون من العمل . Agent cost or problem: Problem happens between business’s owner and manager. - Sometimes problems take place between business’s owner and manager “conflict of interest “. Ex. Professors may advertise about their own courses and make student take some courses out of university which cost the university student’s truth and the professors earn money while the university loss it. فى بعض الاحيان تنشأ مشاكل بين صاحب العمل والمدير "الوكيل" والتى تسمى "تضارب المصالح" ففى بعض الاحيان يعمل المدير لحسابه الشخصى مما يضر بالمؤسسه التابع لها او بارباح صاحب العمل. Cost of...

Words: 388 - Pages: 2

Premium Essay

Financial Manager

...St.Lawrence College | Financial Manager | An overview of the financial world. | | Pierre-Luc Dion | 2/3/2012 | Presented to Jonathan Forbes | Contents Executive Summary 3 Introduction 4 Design and Definition of Duties 5 Requirements: 6 Education: 6 Advancement and Certification: 7 Qualifications: 7 Earnings: 8 Conclusion: 8 Works Cited 10 Executive Summary In this paper, you will find different links and relations between the human resources course and specifically regarding financial managers. In the following pages, the investigation of this job will be provided; firstly, I will explain what a Financial Manger Is. In this first section, I will investigate what a Financial Manager (FM) does, and what duties and responsibilities have to be done and applied, I will also talk about where FM’s can work and which position they can occupy. The following section will overlook the skills, competencies, education and experience needed to become a prosperous Financial Manager. This section will investigate all the specific criteria required in order to precisely understand what is needed to become a Financial Manager. The third section of this paper, will examine the possibilities of development for a FM’s throughout their career, and also scrutinize, in order to know if there is a possibility of continuing education for a Financial Manager throughout his career. The last section of this term paper will be in relation to the compensation,...

Words: 1786 - Pages: 8

Free Essay

Financial Manager

...88911513 8891157788911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 88911577 88935631-4 88911513 ......

Words: 251 - Pages: 2

Free Essay

Financial Manager

...CQR ISSUE 5 | August 2012 GLOBAL VALUE: BUILDING TRADING MODELS WITH THE 10-YEAR CAPE ABSTRACT Over seventy years ago Benjamin Graham and David Dodd proposed valuing securities with earnings smoothed across multiple years. Robert Shiller popularized this method with his version of the cyclically adjusted price-to-earnings ratio (CAPE) in the late 1990s, and issued a timely warning of poor stock returns to follow in the coming years. We apply this valuation metric across more than thirty foreign markets and find it both practical and useful. Indeed, we witness even greater examples of bubbles and busts abroad than in the United States. We then create a trading system to build global stock portfolios based on valuation, and find significant outperformance by selecting markets based on relative and absolute valuation. Mebane T. Faber The Ivy Portfolio 2321 Rosecrans Avenue Suite 3225 El Segundo, CA 90245 Phone: 310.683.5500 Fax: 310.683.5505 info@cambriainvestments.com www.cambriainvestments.com CQR ISSUE 5 | August 2012 INTRODUCTION – THE FUTILITY OF FORECASTING Investors spend an inordinate amount of time and effort forecasting stock market direction, often with very little success. The conventional efficient market theory is that markets are not predictable and cannot be forecasted. Value has no place in the efficient market ivory tower, but does it seem reasonable for an investor, or perhaps a retiree, to have allocated the same amount of a portfolio to...

Words: 1425 - Pages: 6

Premium Essay

The Role of the Financial Manager

...The Role of the Financial Manager Case Assignment (Module 01) 25 August 2010 TUI University Abstract This paper explains why I think the finance department is a good place to train future CEOs. I will also give a few examples of Pros and Cons regarding this subject. Additionally, I will briefly describe both of the responsibilities associated with these positions. The Chief Executive Officer (CEO) is the person who manages the company towards its goals, guided by its vision and relying on its mission and values. As the highest ranking corporate officer, the CEO aspires to ensure competitiveness and engage innovative strategies to reinvent and differentiate amongst competitors, regardless of products. While the rest of the company reports to this ‘big boss’, the CEO reports to the board of directors, in which the CEO may also be a part of. The CEO may be the owner of the company or may be appointed or elected. The Chief Financial Officer (CFO) is the top financial advisor, and it is the top finance position of the company. The CFO is responsible for the accounting, department, budgeting, reporting, audits, financial business practices, undertaken in compliance with industry standards, and ensuring the company is financially sound for meeting its business goals. The CFO is responsible for the finance strategy in the company on the basis of market trends, projections, forecasts and in consensus with other senior members of the company....

Words: 507 - Pages: 3

Premium Essay

Essay

...Some managers are known for “never having missed a budget target.” Do you believe that is possible? Does such a record suggest that the managers are extremely effective managers; very lucky managers, or devious, manipulative managers? Are such managers to be congratulated (and, possibly or likely, promoted in their organizations) for their budget-achievement record? Almost every business and managers use pre-set performance targets as it stimulates employees, helps evaluate their performance, increases their commitment and reduces the cost of intervention and game-playing. Those targets are defined during the budgeting process which is the third planning cycle and are usually financial. They are typically expressed on an annual basis and are related to the measurement of performance and possible rewards and incentives. Financial targets are fixed in most firms which mean that managers are accountable for achieving their targets regardless to the changing environment during the year. Targets need to be right and set the proper way. They need to be a correct amount of challenge. Indeed, targets need to be achievable otherwise the manager will feel demotivated which is counterproductive. Consequently, achieving a budget target doesn’t only depend on the manager’s performance but also on how the target is set by himself or his superiors. Studies shown that at corporate level, budget targets are set to be achievable 80 to 90 % of the time by an effective management team......

Words: 474 - Pages: 2

Free Essay

Conflict of Interest Between Managers and Shareholders

...Corporate managers and shareholders can sometimes find themselves in a conflict of interest. The goal of being a good manager is being able to spot these potential conflicts and to remedy the situation before a serious problem arises. The biggest conflict between managers and shareholders is going to be money. Here is the most common scenario. A corporation is profitable. In fact, the corporation is more profitable than expected. Therefore, the corporation has a cash surplus, if you will. Managers would want this money as a financial bonus and the shareholders would want this money as a stock dividend. What to do? What to do? Mangers will argue that without their leadership and managerial ability, the corporation would not have been as profitable. The shareholders will argue that without their money, the corporation would not have been able to invest in its growth, and therefore, would not have reached that level of prosperity. Who should get the money? Another situation arises when the managers are also shareholders. This may lead a particular manager to push the opposite way of his/her position. For example, if a shareholder manager would get more money from a stock dividend than from a bonus, this shareholder manager might vote in favor of a stock dividend, not because he/she believes that stockholders should be rewarded for their investment, but because it will mean more money for that particular manager. What if only that one manger is a stock holder? Before...

Words: 406 - Pages: 2

Premium Essay

Pfizer

...Summary Jordan Cohen, a senior director at the global pharmaceuticals company Pfizer, realized that a lot of skilled employee time was in effect “wasted” on routine tasks such as using Excel and PowerPoint and doing basic research. The PfizerWorks team managed to do what many consider an impossibility to devise a successful innovation from the bottom up in a big company. It was possible because Mr. Cohen already had years of experience in the company, so he could understand and navigate general company politics. Lone, obsessive geniuses may do well in a garage start-up but, in big companies, to make innovation happen, the manager first needs to embrace both the corporate machine and the people in it. On a personal level, Mr Cohen had a keen grasp of his shortcomings and knew when to recruit different thinkers for his team. He understood the iterative nature of the innovation process, accepting that nothing is perfect in the beginning. As a result, while Mr Cohen did run some personal risks in undertaking such a project in this way, he minimized the risks through a careful management of the various stakeholders and created his dream job as head of PfizerWorks. Discussion question 1. Pfizer is the world’s largest research-based pharmaceuticals firm and also a well known Pharmaceutical company. So their most of the work depends on research, developing Strategies and innovate. They were trying to find a new way of......

Words: 582 - Pages: 3

Premium Essay

(Hindi: मारुति सुज़ूकी इंडिया लिमिटेड)

...Executive Education (CEE) at the ISB, recently, conducted the first management training workshop for senior administrative officers in the Indian Railways. The aim of the six day workshop was to get the top brass of the Indian Railways to develop competencies and skills that focus on three objectives - developing strategic thinking, developing crossfunctional perspective, and managing complexity and uncertainty in their current roles. The course structure was geared to develop a general manager's perspective - decision making; develop understanding of own department's role within Indian Railways' overall goals; long-term thinking and planning; how to lead change, moving from ideas to implementation; financial evaluation of projects, etc. Participant Sanjay Gehlot, chief commercial manager, passenger services, Eastern Railways said, "This programme gave us a good idea of where we stand and where we are heading for. We acquired a theoretical framework as to what we should be aspiring for." He also pointed out a session that he found particularly interesting . "It was about how in order to have happy customers you must first have happy employees, and that employee orientation is equally important as customer orientation ," he said. The workshop comprised sessions like one on operations and supply chain/IT strategies mentored by Medini Singh, customer focussed marketing strategy by Nirmal Gupta, leadership and change management by S Ramnarayan, and finally a session on......

Words: 553 - Pages: 3

Free Essay

Indian Literarture

...\\ ANDHRA PRADESH BEVERAGES CORPORATION LIMITED HYDERABAD RTI ACT INFORMATION HAND BOOK A.P. BEVERAGES CORPORATION LTD., 9 & 10, Proh. & Excise Complex, M.J.Road, Nampally, HYDERABAD-1. 1 ::1:: ANDHRA PRADESH BEVERAGES CORPORATION LIMITED 1.0. INTRODUCTION: The Andhra Pradesh Beverages Corporation Limited (APBCL) was established in the year 1986 as a fully owned undertaking of the Government, with the main objective of supplying hygienic packed arrack to the licensees and is incorporated under Companies Act,1956. The Corporation had set up 22 field units for carrying arrack operations at capital outlay of Rs. 32.65 crores, various district locations with a total which includes buildings and civil works. The various fixed assets like Plant and Machinery other than buildings valued at Rs. 24.70 crores were transferred to the Corporation in the form of Debt and Equity in the ratio of 2:1. The authorised share capital of the Corporation is Rs.10 Crores and the paid up share capital as on date is Rs.833.37 lakhs. The erstwhile Arrack Bottling units are converted into IML Depots for the wholesale trading activities of IML & BEER. 2.0. OPERATIONS: 2.1. ARRACK PACKING OPERATIONS: (from 1-1-87 to 30-9-93) The Corporation commenced its commercial operations on 1-1-1987 and successfully handled the arrack packing operations from 1.1.1987 to 30.9.93 i.e. till the imposition of ban on arrack by the Government. 2.2. WHOLESALE TRADE OF IML & BEER:......

Words: 6218 - Pages: 25

Premium Essay

Power of Duties

...Powers and Duties of Officers and Employees The procedure followed in the decision making process, including channels of supervision and accountability, the norms set for discharge of functions and the rules and regulations held under the control of the organization and used by its employees are detailed below. Shri Raji Philip Chairman-cum-Managing Director The Chairman and Managing Director is the Chief Executive of the Corporation and is responsible to the Board of Directors. He is responsible for all the activities of the Corporation including personnel, financial and commercial management, and corporate planning and project implementation. He is responsible for the effectiveness of the organization in the pursuit of the Company’s goals and objectives and in particular for the performance and supervision of the technical, administrative and day-to-day operations of the Company. The powers exercised by CMD are as per “Delegation of Powers” of CMD in vogue from time to time. Shri A K Bhatia Director (Operations) Director (Operations) is a member of Board of Directors and reports to Chairman and Managing Director. He assists the CMD in all technical matters, in procurement of providing support to the mills for efficient operations, forestry raw material and other major inputs, setting technical parameters and monitoring the operations against the set norms, closely inter-acting with the Chief Executives of the mills on all technical matters including......

Words: 6010 - Pages: 25

Premium Essay

Balance Scored Card

...construction and maintenance of our web page, because it must have and easy to use platform, in which our clients feel completely comfortable and save. 2. The update of the application in order to fix the problems, and offer new features. 3. The adaptation of games; while the costumer is achieving new levels, the games would be complex, allowing clients to get a higher and effective result. 4. The creation and presentation of conferences, which explain how to maintain and get the brain healthy and stronger. 4. Growth and knowledge The base of our organization are all the individual that work on it, to make it better 1. General Manager 2. Engineering area manager 3. Sales and marketing manager 4. Web designer 5. Programmer 6. Marketing specialist 5. Leadership The functions of the general manager in order to achieve all the objectives of the organization are: * Maintains staff by recruiting, selecting, orienting, and training employees; maintaining a safe, secure, and legal work environment; developing personal growth opportunities. * Accomplishes staff results by communicating job expectations; planning, monitoring, and appraising job results; coaching, counseling, and disciplining employees; developing, coordinating, and enforcing systems, policies, procedures, and productivity standards. * Establishes strategic goals by gathering...

Words: 355 - Pages: 2

Free Essay

The Law Offices

...in three separate towns. The current staff includes 18 attorneys (three of whom have become partners), three paralegals, and six secretaries. For the first time in the firm’s existence, the partners feel that they are losing control of their overall operation. The firm’s current caseload, number of employees, number of clients, travel requirements, and facilities management needs have grown far beyond anything that the original partners had ever imagined. Attorney Jeter called a meeting of the partners to discuss the matter. Before the meeting, opinions about the pressing problems of the day and proposed solutions were sought from the entire staff. The meeting resulted in a formal decision to create a new position, general manager of operations. The partners proceeded to compose a job description and job announcement for recruiting purposes. Highlights and major responsibilities of the job description include: • Supervising day-to-day office personnel and operations (phones, meetings, word processing, mail, billings, payroll, general overhead, and maintenance). • Improving customer relations (more expeditious processing of cases and clients). • Expanding the customer base. • Enhancing relations with the local communities. • Managing the annual budget and related incentive programs. • Maintaining an annual growth in sales of 10 percent while maintaining or exceeding the current profit margin....

Words: 1469 - Pages: 6