A business or company is often known by its owner. The owners name becomes the most prominent title in the market. Though he or she plays a pivotal role in the business, there are numerous other roles that make the business an overall success. Each of these people plays an active role in the growth and prosperity of the company. Of the many integral positions in a business house, an important role is that of the Financial Manager.
A Financial Manager is the person who is assigned with the task of providing sound financial advice to the company heads. The success or failure of any business depends largely on the financial decisions taken by the decision makers. The financial manager is appointed to provide with the correct guidance to the employees and the clients in order to help them make the right decision in terms of the company cash flow and expenditure.
Why is financial planning important?
Financial planning or budgeting is the essence of any good business. Charting and planning the budget of the company is the first and foremost task that is to be done with utmost care and consideration. This enables the employees and the company heads to be aware of the financial expenses that the company can undertake or the risks that the company might incur and even the possible financial implications that the company may face with time. In short, one can decide how to fruitfully utilize the money in store and help earn profits.
What does the financial manager do?
The financial manager has a huge role in an organization. From preparing the accounts and collecting the periodic accounting to indulging in strategic analysis of the company funds, the financial manager does it all. The main responsibilities of the financial manager include,
1. Providing financial information in detail
2. Formulating short and long term business plans
3. Monitoring the cash flow of the company
4. Predicting future implications
5. Analyzing market trends
6. Developing cost-reduction opportunities
7. Conduct regular financial reviews
8. Maintain liaison with auditors
9. Maintain and manage the overall budget
10. Develop and hand over annual finance reports accurately
11. Develop and maintain appropriate external contacts with bankers, auditors, etc
12. Supervise the other staff members of the finance department
13. Arrange for new sources of funds in case of debt
14. Chart out possibilities to reduce financial risks
Financial professionals often work as consultants who handle the finances of various companies as and when required or on contractual basis. With work hours being long, most managers consider working independently. This allows them to be flexible in terms of work timings and project allotment.
With up to 3% of the population infected by HIV/AIDS, the disease is running rife in Papua. With this figure set to double, campaigners are calling for international attention.
Local leader, Agus Alua, of the Papuan People’s Assembly claims “this issue is as bad as genocide in West Papua.” However, reports indicate that the disease has spread as a result of high-risk sexual behaviour that can be tracked back to brothels, illegal fishermen and tradesmen, both attracting prostitution. So who organises the prostitution? “It cannot survive without support from the military or police” says Agus.
Produced by ABC Australia
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