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A Financial Manager takes care of many of the most important financial functions of a business. The in-depth experience, timely advice and guidance provided by a Financial Manager from The Finance Team will help add ongoing value to your business.

 

 

A Part-time or Interim Financial Manager from The Finance Team will:

  • Have the experience required to enable them to make clear and decisive decisions
  • Assume a hands-on approach to risk management
  • Understand operational performance and what contributes to better results
  • Review performance measures and ensure that they are appropriate and timely
  • Provide a good understanding of compliance requirements
  • Understand organisation structure and human resources issues
  • Manage the operational financial planning and produce reliable forecasts
  • Provide an awareness of the benefits of appropriate tax planning

A Financial Manager’s four main functions are:

  1. Planning
    1. Define financial requirements against mandated goals and objectives; how annual and longer-term goals and objectives can be met through the use of financial resources, and translate these into specific financial commitments
    2. Assess these requirements in financial terms, determining what is achievable using available financial resources through costing all aspects of these requirements
    3. Provide a roadmap to support the budgeting process
  1. Budgeting
    1. Forecast estimates for the predicted use of financial resources against the budgeted financial resources during a given fiscal year or period
    2. Allocate funds to specific accounts in the chart of accounts
    3. Monitor the actual use of financial resources against the approved budget and identifying variances
    4. Adjust the approved budget under directives from appropriate management and/or in response to variances between planned and actual expenditures
    5. Report findings and action taken to the appropriate authorities
  1. Management & Control
    1. Comply with the legal and statutory framework of policies, business processes, procedures and standards pertaining to recording, classifying, monitoring, and reporting on use and disposition of financial resources
    2. Establish, maintain, and apply an institution-specific framework of policies, business processes, procedures and standards pertaining to recording, classifying, monitoring, and reporting on the use and disposition of financial resources
  1. Performance Measurement
    1. Produce financial reporting which is the recording and presentation of financial statements that show the organisation’s financial position, operating performance and cash flow over a period of time through the use of financial statements
    2. Create management reports on a regular basis that are relevant to decision-making processes, measuring performance against measures and targets (output and outcomes) established during finance management planning, against budget objectives, and/or against financial management performance standards used within industry
    3. Evaluating and analysing findings, and exploring options for corrective action.
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