Clarify the duties of the financial manager within a business firm.
Financial managers measure the firm's performance, find out what the financial consequences will be if the firm maintains its present course or changes it, and suggest how the firm must use its assets. Financial managers also situate external financing sources and suggest the most beneficial mix of financing sources, & they find out the financial expectations of the firm's owners.
All financial managers should be able to communicate, analyze, and make decisions depend on information from several sources. To do this, they have to be able to analyze financial statements, forecast and plan, and find out the effect of size, risk, and timing of cash flows.