Analysis of Contemporary Financial Management

Introduction: When discussing, examining, or otherwise explaining the duties and nature of the work a financial manager involves him/herself in, the conversation can grow quite lengthy. Professional responsibilities will vary within a specific title as well as in the realm or arena of the company, organization, etc. Depending upon more specifications, a financial manager or chief of finances may work for a private company, a public organization, and/or a combination of the two and therefore the concerns will be tailored accordingly. But in the preservation of a drawn out dialogue, the main objectives of the position is to administer, supervise, or on the whole, manage all of the organization’s, corporation’s, etc. financial documents and reports, devise effective and efficient cash management policies, as well as keeping an eye on and maintaining any and all investment activities, movement, etc. The accountability and responsibilities of a financial manager is truly great. The significance of their trade can in a sense, make or break the institute for which they are employed. I depict the roles of a financial chief as that of a juggler. The organization needed to organize dynamics such as public and private interests, analyzing current economic conditions, weighing risk factors, foreseeing return features, forecasting situations, and implementing plans accordingly can be nothing less than a juggling act.

With all the pre-existing concerns and duties a financial manager must run, he/she must nonetheless continue to explore innovative ways in which to succeed. Perhaps one of the most challenging and potentially detrimental roles a financial manager must undertake is the forecasting and planning finances appropriately. Planning in itself must take heed of past missteps, oversights, etc as well as pay mindful attention to significant financial achievements and successes, all while allowing creative, novel ideas be tested with. In present conditions,...