Michael Goldman & Associates, L.L.C. - Consulting
& CPA Services
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FINANCIAL
MANAGEMENT - THE ROLE OF A FINANCIAL EXECUTIVE Planning
for Control To
establish, coordinate and administer, as an integral part of management, an
adequate plan for the control of operations.
Such a plan would provide, to the extent required in the business, profit
planning, programs for capital investing and for financing, sales forecasts,
expense budgets and cost standards, together with the necessary procedures to
effectuate the plan. Provision
of Capital To
establish and execute programs for the provision of the capital required by the
business, including negotiating the procurement of capital and maintaining the
required financial arrangements. To maintain adequate sources for the company's
current borrowings from commercial banks and other lending institutions.
Coordinates the long-range plans of the company, assesses the financial
requirements implicit in these plans, evaluates potential return on investment,
and develops alternative ways in which financial requirements can be satisfied. Investor
Relations To
establish and maintain an adequate market for the company's securities and, in
connection therewith, to maintain adequate liaison with investment bankers,
financial analysts and shareholders. Reporting
and Interpreting To
compare performance with operating plans and standards, and to report and
interpret the results of operations to all levels of management and to the
owners of the business. This
function includes the formulation of accounting policy, the coordination of
systems and procedures, the preparation of operating data and of special reports
as required. Provides management with information required by them to
carry out their assigned responsibilities. Evaluating
and Consulting To
consult with all segments of management responsible for policy or action
concerning any phase of the operation of the business as it relates to the
attainment of objectives and the effectiveness of policies, organization
structure and procedures. Tax
Administration To
establish and administer tax policies and procedures. Government
Reporting To
supervise or coordinate the preparation of reports to government agencies. Protection
of Assets To
assure protection for the assets of the business through internal control,
internal auditing and assuring proper insurance coverage. Economic
Appraisal To
continuously appraise economic and social forces and government influences, and
to interpret their effect upon the business. Banking
and Custody To
maintain banking arrangements, to receive, have custody of and disburse the
company's moneys and securities and to be responsible for the financial aspects
of real estate transactions. Credits
and Collections To
direct the granting of credit and the collection of accounts due the company,
including the supervision of required special arrangements for financing sales,
such as time payment and leasing plans. Investments To
invest the company's funds as required, and to establish and coordinate policies
for investment in pension and other similar trusts. Insurance To
provide insurance coverage as may be required. |
Send mail to
michaelgoldman@mindspring.com with
questions or comments about this web site.
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