Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Each of these roles has an integral contribution to the overall performance of any enterprise. The reliance on a cross-functional team approach to managing risk while seeking to optimize returns on investments is what unifies these diverse teams together (Allen, 1992). The role structure of financial management depends on the transformational leadership skill of the CFO, Controller and senior management staff of the accounting and finance function (Rosen, Granbois, 1983). This team's combined validation and support for a given strategy is critical for tits success, without it nothing will happen and employees will not see the need to also change (Rosen, Granbois, 1983).
Excellently run financial teams also create a culture of accountability, authenticity, transparency and trust throughout their teams as well (De Loo, Verstegen, Swagerman, 2011). This is accomplished through the continual use of information sharing meetings and open door policies with regard to all planning and implementation meetings throughout a company. Further, the CFO is responsible...
The Controller of an enterprise is responsible for translating the strategic plans and goals of the organization into reality (Allen, 1992). This requires the Controller to be adept at team building, creating a culture rich with authenticity and trust, while also creating a culture of complete disclosure as well (De Loo, Verstegen, Swagerman, 2011). The highest-performing and most ethical teams have these attributes and excel as a result.
References
Allen, D. (1992). Financial management: The leading edge of management accountancy. Management Accounting, 73(12), 53-53.
De Loo, I., Verstegen, B., & Swagerman, D. (2011). Understanding the roles of management accountants. European Business Review, 23(3), 287-313.
Rosen, D.L., & Granbois, DH (1983). Determinants of role structure in family financial management. Journal of Consumer Research, 10(2), 253-253.
Executive Summary The financial manager's role is to understand the impact that different internal and external factors will impact the company's ability to achieve its financial and market objectives. The macroeconomic environment has both direct and indirect effects on the company. The major macroeconomic variables such as inflation, interest rates, unemployment, GDP, and exchange rates can all directly influence the financial performance of the company. But these variables also impact on
Financial Derivatives This study emphasized the importance roles of financial derivatives, which has been known for the last decade and its effects on the Global financial crisis. It further analyzes the impact of financial derivatives and how it can be controlled to prevent corporations from incurring a lot of risks. It also explains the existence of financial derivatives since 1970, to the recent Global Financial Crisis which occurred in the 2006. Risk
"A balanced fund seeks to provide long-term growth through its equity component as well as income to be generated by the portfolio's debt securities" (Galvin). 3. Factors Generating Changes in the U.S. Secondary Market for Common Stock The exchange of financial products expanded significantly since the 1960s as a direct consequence of the growing interest in stocks, bonds and other types of investments. Trading financial products is no longer destined only
Financial Management of Not-For-Profit Organizations: Generally, financial management of not-for-profit organizations is similar to the process of financial management in the profit making sector in several aspects. Nonetheless, there are several major differences that contribute to a different focus of a not-for-profit financial manager. In the commercial sector, the for-profit enterprises mainly focus on capitalizing shareholder value and overall profitability. On the contrary, not-for-profit organizations have the basic aim of providing
This also implies inadequacies in fiscal sustainability, which influences investments in private sectors. The second channel happens through the level, composition and quality involved within the public investment, which shows the level at which the public investment replaces the private investments (Schmidt- Hebbel, Serven, & Solimano, 1996). The final channel regards the level of taxation on the corporate earnings and the rules applicable in depreciations. There have been arguments that fiscal policy
Role of Accounting Information in Decision Making Process Accounting information plays an influential role in guiding decision making process in an organization. Our research shows that not all organizations would use accounting information in the same manner even though they might all utilize it for making better decisions. However some organizations might limit those decisions to the area of cost control while others would be comfortable using accounting information for making