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Essay / Research Paper Abstract
A 3 page paper comparing the role of the financial manager to that of the accountant. The financial manager acts as the intermediary between the firm and financial markets, while the accountant keeps control of daily activities. Bibliography lists 2 sources.
Page Count:
3 pages (~225 words per page)
File: CC6_KSfinMgrAcct.rtf
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Unformatted sample text from the term paper:
competitive than ever before, and every business is required to operate with as much efficiency as it can find within itself. The financial manager has direct influence on daily
efficiencies, but s/he also influences long-term efficiencies in terms of judicious use of financial resources. The purpose here is to compare the role of the financial manager with the
role of the accountant. The Financial Manager The financial manager is the one who is most likely to be aware of the requirement
of businesses to return value to stakeholders. The financial manager at a very large company is the Chief Financial Officer (CFO), with at least a treasurer and controller reporting
to him. Smaller companies also need these functions, but they may all be accomplished by a single individual. It is the primary
role of the CFO to formulate financial policy and perform high-level corporate planning. Financial policy includes determining how the business will handle debt; how much it will pay dividends
to investors; how it will deal with currency risk; what principles will guide its financial reporting. The table below lists the duties of the financial manager, and indicates where
the accountant fits into the plan. Position Duties Chief Financial Officer Financial policy Corporate planning Treasurer Cash management Raising capital Banking relationships Controller Preparation of financial statements Accounting Taxes Accounting
(reports to Controller) Categorizes costs and revenues Summarizes cost categories Accounts payable Accounts receivable General ledger Source: (Brealey, Myers and Marcus, 2001; p. 14)
The financial manager stays abreast of trends in financial markets, the companys industry and the companys finances, for the purpose of gaining the greatest return possible on the companys
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