Financial management

Financial Management

• Financial managers are those who conduct research and decide what type of capital to raise in order to finance a company's assets and maximize the value of the company to shareholders.

• Financial management focuses on key performance indicators, both equity and debt. This is useful for managing fluctuations in foreign currencies and product cycles, as well as in financial market management.

• These are specialised functions that are directly linked to top management but are also designated in such a way that the objectives of the organisation are achieved. The importance of each of these functions can be seen in different ways, which are defined differently by different experts in the field.

• The issue of shareholder dividends is as important a part of a company's management strategy as its financial performance.

What are the jobs and responsibilities?

• The Finance Manager develops the departmental budget in consultation with the Chief Financial Officer (CFO) and the Head of Finance and Finance Management.

• Finance managers develop departmental budgets in cooperation with the head of the finance department and a senior finance official.

• Prepare relevant financial forecasts for the company and work with other managers and their employees to determine its future budget.

• The department monitors current expenditure to ensure that it is not out of budget, and the responsible manager is asked to clarify whether or not his expenditure in the department exceeds the specified budget.

• He or she monitors and supervises departmental budgets, oversees current expenditure, ensures that it is not outside the budget, and prepares for future budgets.

• Responsible for the correct and timely reporting of the various projects and takes responsibility for various projects, delegates them to the employees and accompanies the employees during the project progress.

• Make timely performance assessments and provide timely feedback to employees.

• In order to build a strong team, he or she must be able to give presentations and lead various staff meetings. He/she must have been responsible for the development and implementation of the project and its implementation.

• Identify areas of cost reduction and operational improvement and create a plan to analyze information about current processes and compare actual performance with previous years fiscal data.

What are the skills required?

• Strong analytical skills.

• Familiarity with Microsoft Office suite and their organization's computer system.

• Can handle various financial applications and reporting tools.

• Excellent oral and written communication skills

• Strong leadership and interpersonal skills

• A strong sense of responsibility for his/her employees

Eligibility: 12th (All streams, Mathematics preferable). Need to get a bachelor’s degree in finance, management, accounting, business administration, or other relevant fields. Students with CPA certifications and/or MBAs will have an added advantage.

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What is the scope for Financial Management in India?

Graduates can find employment opportunities in every sector from organisations & different companies, banks, government departments and agencies or educational institutions, Banking and Financial institutions, Hedge Fund firms, etc. Top job profiles-

• Finance Manager

• Financial Planner

• Financial Analyst

• Financial Auditor

• Investment Banking Analyst

• Actuary

• Accountant

• Investor Relations Associate

How much do they earn?

• Average Salary - Rs 998,052/year

• Less than 1 year - Rs 509,649/year

• 1-4 years of experience - Rs 776,993/year

• With 5-9 years of experience - Rs 1,092,092/year

• With 10-19 years of experience - Rs 1,213,633/year

Who are the top recruiters?

• HSBC

• ICICI Bank

• State Bank of India

• Standard Chartered Bank

• Wipro

• HDFC Bank Pvt Ltd

• Genpact

• EY (Ernst & Young)

Top colleges for Financial management in India

• Narsee Monjee Institute of Management Studies, Mumbai

• NIMS University, Jaipur

• Noida International University, Greater Noida

• National Institute of Financial Markets, New Delhi

• Indian School of Business Management and Administration, Chennai

• Mumbai University

• NMIMS Global Access School for Continuing Education, Mumbai

• Mansarovar Group of Institutions, Bhopal

What are the books and study materials available?

• How to Prepare for QA for CAT by Arun Sharma

• Quantitative-Aptitude-Quantum-By-Sarvesh-Kumar

• Quantitative Aptitude for CAT by Nishit Sinha

• How to Prepare for VA & RC for CAT by Meenakshi Upadhyay and Arun Sharma

• The-Pearson-Guide-to-Verbal-Ability-and-Reading-Comprehension-for-CAT-By-Nishit-Sinha

• Word-Power-Made-Easy-by-Norman-Lewis

• A Modern Approach to Logical Reasoning by R.S.Agarwal

Interesting Facts

Dr Eugene Fama is popularly known as the father of modern finance.