Post on 05-Apr-2018
7/31/2019 Fin Assigmnt
1/18
Finance Manager &
Manufacturing Sector
1
Prepared by :Harshvardhan PatilAbhimanyu Bhatia
Shobhit TiwariShilpa SabooMeghna Avala
7/31/2019 Fin Assigmnt
2/18
What does the Finance Manager do?
General PerceptionNumber crunching
2
7/31/2019 Fin Assigmnt
3/18
What actually does ?
1. Planning and Forecasting2. Financing Decision
3. Investment Decision
4. Dividend Decision5. Financial Negotiation
6. Cash Management
7. Evaluating financial performance
8. Dealing with relevant parties in the FinancialMarkets
3
7/31/2019 Fin Assigmnt
4/18
Flow Chart
Firms
Operations
Real
Assets
InvestorsFinancialManager
FinancialMarkets
FinancialIntermediaries
4
7/31/2019 Fin Assigmnt
5/18
Manufacturing firm structure
5
7/31/2019 Fin Assigmnt
6/18
Finance Model of the Firm
CFO
Management Accountant
Financial Accountant
Internal Auditor
Credit Controller
Accounts Payable Accountant
Accounts Clerk
6
7/31/2019 Fin Assigmnt
7/18
Chief Financial Officer
This is the senior manager who isresponsible for overseeing thefinancial activities of an entire
company. This includes signing checks to
monitoring cash flow to financial
planning.
7
7/31/2019 Fin Assigmnt
8/188
7/31/2019 Fin Assigmnt
9/18
Management Accountant
To establish, coordinate and administer, as anintegral part of management, an adequate plan forthe control of operations.
To compare performance with operating plan and
standards and to report and interpret the results ofoperation to all levels of management, and to theowners of the business.
Administer tax policies and procedures.
To consult withal segments of managementresponsible for policy or action conserving anyphase of the operations of business.
Risk Management.
9
7/31/2019 Fin Assigmnt
10/18
Finance Accountant
Responsible for managing liquidity, operation of bankaccounts, ensure prudent and timely execution ofpayments; monitor and follow up financial riskexposures. Establish IT infrastructure, procedures andprocess descriptions.
Internal Auditor Most publicly-traded companies have internal
auditing teams to ensure not only complianceto internal structures, but also outsideregulatory agencies such as the SEBI.
10
7/31/2019 Fin Assigmnt
11/18
Credit ControllerThey keep a record of all communication with the customerand resolve all problems for clients, copy invoices, proof ofdelivery, credit notes, and liaise internally to progress anyproblems that are being handled in any other department.
Accounts Payable Accountant
He maintains an accounting entry that represents anorganizations obligation to pay off a short-term debt to itscreditors.
Accounts ClerkAn accounting clerk is a financial record keeper who uses
specialized ledgers and software to record and processexpenditures, receipts, payroll and all other financialtransactions for a business or organization.
11
7/31/2019 Fin Assigmnt
12/18Interaction with Other Departments 12
ADMINISTRATIONDEPARTMENT
HRDEPARTMEN
T
R & DDEPARTMENT
ITDEPARTMEN
T
MARKETINGDEPARTMENT
TRADINGDEPARTMEN
T
PRODUCTIONDEPARTMENT
MATERIALDEPARTMEN
T
FINANCE
DEPARTMENT
http://www.thetimes100.co.uk/theory/theory--aims-functions-production-department--206.php7/31/2019 Fin Assigmnt
13/18
* PRODUCTION CYCLE,
*SKILLED AND UNSKILLED LABOUR,
*STORAGE OF FINISHED GOODS,
*CAPACITY UTILISATION.
THE COST OF PRODUCTION
ASSUMES A SUBSTANTIAL PORTION
OF THE TOTAL COST REPLACING
MACHINERY, INSTALLATION OF
SAFETY DEVICES.
http://www.thetimes100.co.uk/theory/theory--aims-functions-production-department--206.php7/31/2019 Fin Assigmnt
14/18
The finance manager and material manager in a firm may come togetherwhile determining
ECONOMIC ORDER QUANTITY,
SAFETY LEVEL,
STORING PLACE REQUIREMENT, STORES PERSONNEL REQUIREMENT,
The costs of all these aspects are
to be evaluated so the finance
manager may come forward to
help the material manager.
7/31/2019 Fin Assigmnt
15/18
PERSONNEL DEPARTMENT
ENTRUSTED WITH THE RESPONSIBILITY
OF RECRUITMENT
TRAINING AND PLACEMENT
OF THE STAFF
THE WELFARE OF THE EMPLOYEES
AND THEIR FAMILIES
THIS DEPARTMENT WORKS WITH FINANCE
MANAGER TO EVALUATE EMPLOYEES
WELFARE, REVISION OF THEIR PAY SCALE,
INCENTIVE SCHEMES, ETC
http://en.wikipedia.org/wiki/Human_resourceshttp://en.wikipedia.org/wiki/Human_resources7/31/2019 Fin Assigmnt
16/18
THE SELLING OF GOODS AND
SERVICES TO THE CUSTOMERS. ENTRUSTED WITH FRAMING
MARKETING, SELLING, ADVERTISING
ACHIEVE THE SALES TARGET.
FRAME POLICIES TO MAINTAIN
AND INCREASE THE MARKET SHARE,
CREATE A BRAND NAME ETC.
FOR ALL THIS FINANCE IS REQUIRED, SOTHE FINANCE MANAGER HAS TO PLAY
AN
ACTIVE ROLE FOR INTERACTING WITH
THE MARKETING DEPARTMENT.
K l d Skill d
7/31/2019 Fin Assigmnt
17/18
Knowledge, Skills and
Abilities
Solid understanding of accounting and financial planning principles
Ability to prepare financial modelling and analysis
Reviews and explains financial performance (actual vs. budget)
Interprets results relative to business and strategic objectives
Thinks in terms of the entire process (takes on the enterprise view)
Utilizes a theoretical framework when evaluating the business
Provides insight and suggest opportunities to improve
Strong interpersonal and communication skill
17
7/31/2019 Fin Assigmnt
18/18
THANK YOU
18