SCOPE OF FINANCE FUNCTIONS
The functions of Financial Manager can generally be sub-divided into two: The Routine functions and the Managerial Functions.
Managerial Finance Functions:
Need skilful planning, control and execution of the financial activities. There are four significant managerial finance functions.
- These are as shown below:
- Investment of Long-term asset-mix choices
- Financing decisions
- Division of earnings decision
- Liquidity decision
Routine functions:
For the efficient execution of the managerial finance functions, routine functions have to be executed. Such decisions concern procedures and systems and include a lot of paper work and time. In most situations these decisions are delegated to junior staff in the organization