In today's market economy, when having to compete with a large number of companies, commercial and industrial companies need to properly manage their financial resources. The control and distribution of the organization's financial flows are carried out by specialists from the economic unit, one of whom is the financial manager. To cope with the functions assigned to you, you need serious theoretical and practical training, as well as management skills.
Although a finance manager and an accountant work closely together, these are fundamentally different positions that require different skills. The differences look like this:
° Functions: An accountant maintains tax accounting records in accordance with the requirements and regulations of the legislation and provides reports to regulatory authorities, a financial manager specializes in managing working capital, planning, forecasting, and optimizing business processes.
° Goals: For an accountant, to align the financial activities of the company with tax legislation, for a financial manager, to increase the value of the company by increasing the return on capital.
° Sources of information: For an accountant, this is the tax legislation and primary data, for a financial manager: data from the financial and foreign exchange markets and documents related to management accounting.
The job of a financial manager involves the prevention of financial costs and risks of the company. He is dedicated to:
In order to become a sought-after specialist and cope with his duties, a financial manager needs to constantly monitor changes in legislation, improve the level of education and timely master new software. On the job, you will need knowledge of:
° Great demand in the modern labor market
° Work activities related to the field of financial management generate high and stable income; this will allow you to quickly solve your tasks, for example, buying a car or an apartment.
° Interesting and prestigious work. You can enter the history of the company by significantly increasing its capitalization - employers are willing to pay well for this.
° Education is available to everyone, in many universities in the country training profiles are available that can become the basis for obtaining a valued profession.
° It can be difficult to find work in small towns, because the services of a specialist can be paid mainly by large organizations.
° Activities associated with stressful situations.
° The schedule can be irregular.Thank You