How a Business Admin can lead you into a successful leadership role in financial management - Research Paper Example

However, there are certain requirements that one need to fulfill before becoming a financial manager. This paper looks at the all the matters that concern financial management as a career from job description to the salaries as well as other factors that affect the job or are projected to affect it in the near future. The paper also explores the duties of a financial manager. As previously stated there are very many roles of financial managers. First off, they prepare financial statements, business forecasts and business activity reports.

Secondly they also monitor the financial details to make sure that they conform to the legal requirements. The managers are also supervisors of employees who handle budgeting and financial reporting issues in an organization. They are also needed to reduce costs through conducting reviews on the organizations financial reports (Occupational Outlook Handbook, Financial manager, 2014). They also have the duty to do market trend analysis and recommend expansion of the organization. Financial managers are also consultants during the decision making process by the management.

Financial managers have the core duty of changing the response to advancements in technology that are efficient in producing financial reports (Financial Manager | CareerGirls.). Their work also overlaps in that they have the role of analyzing data as well as advising the senior managers on how to optimize profits. Their roles differ depending on the organization that has employed them. For instance, in financial institutions such as banks they are tinged with the duty of overseeing various functions including lending (Occupational Outlook Handbook, Financial manager, 2014).

The cash managers will control the inflow and outflow of the company money so as to meet the business expectations of their firms. The insurance manager will look at the programs that are bound to minimize risks and cut down on losses so as to improve efficiency in business