Managerial Functions of Accounting

Financial Management
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Financial Management
As a financial manager in a company, I will ensure that monetary policies are formulated using the company's financial objectives. I will ensure that the policy will involve controlling the balance sheet, the income statements, and the cash flow statement. Examining these statements will help me derive the company's overall financial position while deriving a trajectory for income generation and budgetary expenses for the company (Abor, 2017). To execute financial planning and control effectively, I will be expected to provide budgets. I will have to examine the different elements defined as functions, communicating, financial monitoring and scheduling, and program implementation.
In preparing a budget for my company, I will analyze the costs by exploring the company's expenses in every department. I will ensure that I negotiate the prices of supplies with my suppliers. After exploring the costs, I will then estimate the revenues I will expect from the outlined operations and projects for the company. In this way, I will have determined the gross profit ma...