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Financial managers take care of the financial health of an organisation. They produce financial reports, direct investment activities and develop strategies and plans for the long-term financial goals of an organisation. Financial managers monitor financial details that meet legal requirements of the company.
A financial manager supervises the employees who prepare financial reporting and budgeting for the organisation. They review the plans and focus on reducing the costs for the company. Analysing market trends, the managers play a decisive role in acquiring other companies. They help the management to make well informed decisions.
Finance managers must be aware of the industry trends in which they work for. For example, a finance manager working for a government agency must be an expert on government appropriations, and budgeting processes. Similarly, health care finance managers should be familiar with the issues in the healthcare industry.