Functions of the Chief Financial Manager

Chief Financial manager is the top officer of finance department. In America he is known as Vice-president finance and in India he is called Chief Financial Controller. He performs following functions:

(1) Financial Planning :– He determines the capital structure and prepares financial plan.

(2) Procurement of Funds:- Financial manager makes the necessary funds available from different sources.

(3) Co-ordination:- Financial manager establishes co-ordination among the financial needs of various departments. He is a member of finance committee.

(4) Control:- Financial manager examines whether the work is being performed as per pre-determined standards or not. He gets the reports prepared, controls the cost and analyses profits.

(5) Business Forecasting:– Financial manager evaluates the effects of all national, international, economic, social and political events on industry and company.

(6) Miscellaneous Functions:– It includes the management of assets, management of inventory, arrangement of data and management of bank deposits etc.