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The Role of the Financial Manager
Member rating: No Rating | Words: | Submitted: Tue Jun 20 2006
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The Role of the Financial Manager Ernesto Lembert University of Phoenix FIN/554 Finance For Managerial Decision Making Oluwole Akindahunsi, Ph. D. March 23, 2006 The primary goal of every corporation is to maximize shareholder wealth, primarily through cash dividends and share value appreciation. To this end, the role of the financial manager is to act in accord with this premise. Ross-Westerfield-Jaffe (2004) stated, "The most important job of a financial manager is to create value from the firm's capital budgeting, financing, and net working-capital activities." Moreover, how do financial managers create value? They mentioned to ways to do it: First, the firm should try to buy assets that generate more cash than they cost. Second, the firm should sell bonds and stocks and other financial instruments that raise more cash than they cost (Chapter 1). Financial managers oversee the preparation of financial reports, direct investment activities, and implement cash management strategies. Their...
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