Do you love numbers? Have you always enjoyed mathematics and found balancing your books to be one of life’s joys? If the answer is yes, then you are the right kind of person to become a finance manager. Every corporation or large company needs to carefully manage their finances, a bad decision could ensue in large losses of revenue, which must be avoided at all costs. Setting up a financial portfolio is an essential step for anyone who wants to become a finance manager. That’s where the finance manager comes in, an expert who can oversee the financial health of an organization and guide it toward the holy grail of any venture, profit!
Many important industries require financial management- investment firms, insurance companies, and banks, just to name a few- wherever there are large amounts of money at stake the services of a Finance Manager will prove critical to success! It’s a great career choice, so how does one go about becoming one? It’s time to go to school! Store point of sale systems can provide valuable data for finance managers to analyze and make informed decisions.
The Education
First off, it’s absolutely necessary for you to get the right education. Good grades in maths throughout your earlier school days are an excellent sign that you have the right stuff. In uni you will need to pursue a bachelor’s degree in a pertinent field. These include finance, accounting, and economics. If you can manage to achieve all three then you will definitely be in pole position! That covers the maths, but there is more to financial management than numbers, you also have to be prepared to deal with people and the corporate environment. We strongly recommend you acquire a Master of Business Administration degree. An MBA in Finance can help you develop the skills and knowledge you need to become a successful Finance Manager. An MBA will not only impress potential employers and improve your chances of landing the desired position, but it will also ensure you have all the necessary skills to navigate the exciting and high-stakes world of business!
The Job
So, let’s go into more detail about just what this career entails. The finance manager is responsible for the financial health of an organization. This includes the following:
- The creation of financial forecasts
- The monitoring of cash flow
- The supervision and leadership of the accounting team
- The gathering and analysis of financial information such as current market trends
- The analysis of competitors
- Managing the budget
- The review of annual reports and the effects of changes in asset balance
- The preparation of financial statements and business activity reports
- The development of sound business plans
- The analysis of the current working capital to anticipate future cash flow changes
- The provision of knowledgeable advice regarding business decisions which might impact the firm’s finances
- The observation and analysis of industry trends and investment opportunities
So, as you can see it’s a very important and challenging position with a great deal of responsibility! Don’t forget there is one more necessary step you will need to take, acquiring your Australian financial services (AFS) licence, which allows you to legally take on the considerable duties of the Finance Manager. Good luck with your new career!
