Page 9 - DBP5043

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RESPONSIBILITIES OF FINANCIAL
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MANAGERS
Making decisions on financial management is usually
done by a financial manager. The main task of the
financial manager is to determine how financial
resources are obtained and used effectively and
efficiently to achieve the objectives of the company that
is to maximize profits of the company or increase
shareholders’ wealth.
Among the most common activities undertaken by
financial managers are:
i) Forecasting and planning:

Financial managers must be able to forecast the

company’s future performance. Forecasting is made

based on the company’s past and present performance

as well as other factors such as economic performance,

customer’s preference and the future demand for their

products.

Based on the forecasts and interaction with other

executives, the financial manager will lay plans, which

will shape the company’s future position.