Financial Management

Текст № 2 для письменного перевода.

Контрольная работа

Английский язык

Текст №1 для письменного перевода

What is a Manager?

A number of different terms are used for "manager", including "director", "administrator" and "president". The term "manager" is used more frequently in profit-making organisations, while the others are used more widely in government and non - profit organisations such as universities, hospitals and social work agencies.

What, then, is a manager?

When used collectively the term "management" refers to those people who are responsible for making and earring out decisions within the system.

An individual manager is a person who directly supervises people in an organisation.

Some basic characteristics seem to apply to managers in all types of organizatarions; they include hard work on a variety of activities, preference for active tasks, direct personal relationships.

Almost everything a manager does involves decisions. The reason for making a decision in that a problem exists. In decisionmaking there is always some uncertainty and risk.

Managing is a hard job. There is a lot to be and relatively litlle time to do it.

Big companies have many managers heading departments. They are all reponsible to the managing director. Among various departamental managers (directors) the following can be mentioned:

- sales manager

- personnel manager

- chief manager

- district manager

- sales and marketing manager

- industrial engineering manager

- etc.

In the past, financial management was not a major concern for a business. A company used to establish relations with a local hank. The hank handled the financing and the company took care of producing and selling.

Today only a few firms operate in this way. Ussually businesses have their own financial managers who work with the banks. They negotiate terms of financial transactions, compare rates among competing financial institutions. Financial management begins with the creation of a financial plan. The plan includes timing and amount of funds and (lie inflow and the inflow and outflow of money.

The financial manager develops and controls the financial plan. He also forecasts the economic conditions, the company's revenues, expenses and profits.

The financial manager's job starts and ends with the company's objectives. He reviews them and determines the funding they require. The financial manager compares the expenses involved to the expected revenues. It helps him to predict cash flow. The available cash consists of beginning cash plus customer payments and funds from financing.

The financial manager plans a strategy to make the ending cash positive. If cash outflow exceeds cash inflow the company will run out of cash. The solution is to reduce outflows. The financial manager can trim expenses or ask the customers to pay faster.

The financial manager also chooses financing techniques. One of them is short -term financing. Another is long term financing.

At the end of the fiscal year the financial manager reviews the company's financial status and plans the next year's financial strategy.

Дата добавления: 2015-05-29