The top 9 functions of financial management can help you understand the functions of a financial manager in a better way.
Financial planning helps procure funds and utilises the same in business forecasting. It allows planning, organising, directing, and controlling of resources by managing them effectively.
Cash management can be done effectively by the finance manager. Financial management allows them to determine the revenue a company that are needed to reach its goals.
Financial management helps in determining the size of the business, predicting its profitability and understanding company policies.
Financial management effectively determines the capital structure of a company. When the capital requirement estimation is complete, it helps decide the capital composition.
Financial management helps in directing a company's financial position by effectively producing reports. It makes strategies for the future and manages budgets.
Financial management helps in deciding the sum amount of funds a company retains and how much it distributes as dividends to its shareholders from its overall profit.
It allows the company to understand how much money it has, what is the source of that money and what expenses they have incurred during a financial year or specific accounting period.