Companies need money to make money. Finance is considered the lifeblood of any business and it is imperative to ensure that there is a continuous flow of funds in and out. This is where effective financial management plays a pivotal role in an organization. Financial management is the process of planning, directing, organizing and monitoring the financial resources of an organization.
Objectives of Financial Management
- Identifying Cash Requirements – Capital requirements have to be considered keeping in mind both short-term and long-term requirements
- Determining Capital Structure – The capital structure means the composition of capital that includes decisions with regards to the debt-equity ratio, both short-term and long- term.
- Developing Financial Policies – Financial policies need to be developed with regards to cash control, borrowing, lending, etc.
- Allocating the Scarce Resources – Ensuring that the scarce financial resources are optimally utilized in order to maximize the return on investment.
What is the Role of a Financial Manager?
Financial managers are responsible for the financial health of a company. They are responsible for generating financial reports and developing strategies and plans to achieve the long-term financial goals of the company. The core responsibilities of financial managers include:-
- Preparing financial statements, business activity reports, and forecasts
- Monitoring financial activities to ensure proper adherence to legal requisites.
- Supervising the work of professionals who are responsible for financial reporting and budgeting.
- Reviewing company financial reports and planning strategies to reduce costs.
- Analyzing market trends in order to identify opportunities for expansion
- Helping management make smart financial decisions.
Eventually, the primary objective of financial managers is to maximize the company’s value. With growing businesses, the need for proficient financial managers has become imperative in order to ensure financial stability and growth. Every company today is looking out for proficient financial managers who are capable of fulfilling their financial objectives
Advanced Financial Management Courses
Advanced financial management courses are specially designed for professionals who are working in the corporate finance domain. From the introduction to the financial management to the understanding of advanced concepts and techniques, this course comprehensively covers all critical areas of the financial management field. It provides financial managers with a great opportunity to reinforce their knowledge base, advance their careers, and apply for top-level finance posts within the organization.
Eligibility Criteria for Advanced Financial Management Courses
In order to be eligible for advanced financial management courses, an individual must satisfy the following criteria:-
- He or she should possess a graduate degree (10+2+3) or diploma degree (10+2+3) from a recognized institution
- He or she should have four years of minimum working experience in the financial domain
Employment of financial managers is predicted to increase by 19% from 2016 to 2026, much faster than the average for all other occupations. Owing to a rapidly growing marketplace, several core functions of financial managers such as cash management, risk management and investment management is expected to grow in the coming years.
Individuals who are pursuing financial management courses have great prospects of getting a high-paying job in well-recognized companies. Additionally, with advanced financial management courses, currently, working professionals can take a step further in their careers and apply for higher-level finance positions within their organizations.
More Information:
Embarking on a Successful Career in Finance
How to start a career in Financial Analytics in India?
How basic financial skills can boost your career prospects?
What Are the Most Popular Careers in Financial Management?
