Why do you think the role of financial manager is so important in a bu

QUESTION

Why do you think the role of financial manager is so important in a business?

What will be an ideal response?

ANSWER

Answer: Financial managers are responsible for planning and controlling the acquisition and uses of a firm’s funds. Central to the job of financial management is risk-return trade-off, in which financial managers continually try to balance the firm’s investment risk with the expected return from its investments. Financial managers oversee bill payment, collection of money owed, taxes, and accounting.
Explanation: Financial managers control much or all of the money processes within a firm; they are constantly working with the risk-return trade-off; and they oversee bill payment, collection of money owed, taxes, and accounting.