There are many different jobs in the field of finance. Each of them has its own peculiarities, so it is impossible to say that one profession is better or worse than the other. In this paper, I would like to consider two professions from the area of finance which are quite popular, but nevertheless they are in high demand in the labor market.
The Role and Value of an Accountant in the Company
Even the smallest company or enterprise cannot work without a specialist in the figures and reports. An accountant keeps records of the income and expenses, regulates the passage of financial flows and does a lot of other necessary and important work for the firm.
The value of an accountant in the enterprise cannot be underestimated because the efficiency of his work is directly connected with the success of the company. Careful and thorough recording of all the operations of the company and reflection of them in a documentary form – this is an accounting, without which it is impossible to imagine the activity of any company nowadays.
The main objective of an accountant is to provide truthful information about the state of the enterprise to its managers in order to conduct an effective control. In this connection, he performs several important functions:
• Informational – the provision of reliable, systematic and timely information on the business operations of the enterprise to its management and supervisory bodies;
• Controlling - it is realized in the form of a preliminary (recruitment of qualified staff), current (development of quality standards and their maintenance) and final (planning the activity of the enterprise on the basis of the available balance) control;
• Analytical - regular analysis of the efficiency of the work of each department of the company;
• Feedback function – providing the information about the collaboration of the enterprise with the counterparties and correlation of the results of its work with the data on the work of the subsidiaries.
In addition, an accountant ensures the safety of the company's assets through the periodic inventory of its property. Taking into account full diversity of accounting, it is important to outsource it to a professional. Taking into account a full diversity of accounting, it is important to find a real professional.
The information of an economic nature is the basis for management decision-making in the enterprise. In its turn, it is the result of a systematic and continuous accounting which reflects each business operation of the company in terms of money. Thus, I can say with confidence that the basis for a profitable business is a competent accountant (Len Jui, 2013).
Characteristics of the Employee
A good accountant needs such personal qualities as responsibility, discipline, punctuality, high intellectual performance, advanced logic and memory, high concentration of attention and interference immunity, high level of abstract and symbolic thinking and computer literacy (Marty Schmidt, 2016).
The Role and Value of a Financial Manager in the Company
It is obvious that in order to achieve the strategic goals of the company it is necessary to make the required accumulation of economic resources and make their usage the most effective not only in terms of production, but also from a financial point of view. Financial efficiency is the main task of the financial manager.
A financial manager is an agent of the business owner who has to work in their common interests. His activities take place not in the isolation from the other business leaders. On the contrary, the financial manager is working closely with the planning department, marketing managers, accountants, chief engineers and other key figures in the company in order to achieve common strategic objectives.
Financial management considers the maximization of the wealth of business owners as the main and final goal of the company’s activity. It should be noted that the maximization of the wealth of business owners and the achievement of the strategic objectives of the company are not mutually exclusive. Conversely, the company’s head should set such strategic goals that will maximize the profitability in the long term period.
A financial manager has to deal with the assessment and planning of cash receipts and expenses that may occur or may not occur in the future. Thus, the task of the financial manager is to correctly identify and take into account the probability with which the future cash inflows and outflows will happen. In other words, the financial manager should be able to assess and manage the risks of the project.
Consequently, the financial manager is the company’s key to the preservation and maximization of the profit (MSG).
Characteristics of the Employee
A financial manager should possess responsibility (the ability to respond on the results of the work), flexibility (the ability to react flexibly on the changes in the different management situations), creativity, orderliness (the ability to plan some organizational activities). Also, this list includes criticality (the ability to identify and express significant deviations of the activity from the established norms), self-confidence, determination and the desire for continuous personal growth (Gemma Halder, 2014).
Recommendations
References
Gemma Halder. (2014). Job profiles: Financial manager. Retrieved from https://www.prospects.ac.uk/job-profiles/financial-manager
Len Jui. (2013). Roles and Importance of Professional Accountants in Business. Retrieved from https://www.ifac.org/news-events/2013-10/roles-and-importance-professional-accountants-business
Marty Schmidt. (2016). Accountant and Accounting Explained. Retrieved from https://www.business-case-analysis.com/accountant.html
Management Study Guide. (N.d). Role of a Financial Manager. Retrieved from http://www.managementstudyguide.com/role-of-financial-manager.htm
