Fin Assigmnt

7/31/2019 Fin Assigmnt

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Finance Manager &

Manufacturing Sector

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Prepared by :Harshvardhan PatilAbhimanyu Bhatia

Shobhit TiwariShilpa SabooMeghna Avala


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What does the Finance Manager do?

General PerceptionNumber crunching

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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

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Flow Chart

Firms

Operations

Real

Assets

InvestorsFinancialManager

FinancialMarkets

FinancialIntermediaries

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Manufacturing firm structure

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Finance Model of the Firm

CFO

Management Accountant

Financial Accountant

Internal Auditor

Credit Controller

Accounts Payable Accountant

Accounts Clerk

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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.

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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.

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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.

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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.

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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.php


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* 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.php


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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.


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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_resources


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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


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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

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THANK YOU

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Fin Assigmnt

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