BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Perform data analysis and advise senior managers on profit-maximizing ideas.
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Not responsible for the financial health of an organization, only on analyzing data
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They are not responsible on creating financial reports
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They make/do direct investment activities, and develop plans for the long-term financial goals of their organization
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Detailed explanation-1: -Financial managers take care of the financial health of an organisation. They produce financial reports, direct investment activities and develop strategies and plans for the long-term financial goals of an organisation. Financial managers monitor financial details that meet legal requirements of the company.
Detailed explanation-2: -By definition, a financial manager is someone who oversees the financial health of an organisation and helps ensure financial sustainability. They supervise many important functions such as monitoring cash flow, managing expenses, producing accurate financial data, and strategising for profit.
Detailed explanation-3: -The process of planning and managing a firm’s long-term investments is called capital budgeting. In capital budgeting, the financial manager tries to identify investment opportunities that are worth more to the firm than they cost to acquire.
Detailed explanation-4: -Financial managers generally oversee the financial health of an organization and help ensure its continued viability. They supervise important functions, such as monitoring cash flow, determining profitability, managing expenses and producing accurate financial information.
Detailed explanation-5: -The financial manager must decide how much money is needed and when, how best to use the available funds, and how to get the required financing. The financial manager’s responsibilities include financial planning, investing (spending money), and financing (raising money).