financialtreat – will explain about What is a Finance Manager and What are the Requirements to Become a Finance Manager? which you will find in the following article. let’s look at this article carefully!
Finance Manager is an individual who manages financial management, makes strategies, makes decisions, and applies them according to company goals. The purpose of the financial manager is to lead the finance division and report directly to the company director.
The need for a Finance Manager because the finance sector is something that has a big impact on the company because it involves the company’s income to be used in various business activities. Without money, the company will not be able to execute all of its business plans.
What is a Finance Manager and What are the Requirements to Become a Finance Manager?
What are the Duties of a Finance Manager?
The financial manager has various duties related to the financial function within the company. Here’s the explanation.
1. Prepare the company’s general financial planning
The financial manager is in charge of preparing financial plans for company operations that are valid in one accounting period. Financial planning is adjusted to the needs and activities of the company in that period.
2. Cooperate with managers from other divisions
Finance managers need to work together with other managers to develop financial plans as needed. Each division must have its own budget. In addition, they must also cooperate in other matters related to company projects. It can be said that financial managers often hold meetings with other managers.
3. Execute the company’s financial needs efficiently
One of the goals of financial managers who prepare financial plans is for the company’s money to be used efficiently. Throughout the execution of the company’s operations, the financial manager will ensure that the money provided is used according to the plan.
If additional money is needed, the financial manager will not immediately provide the money, but must be reviewed carefully before making a decision.
4. Making decisions regarding company investment
Companies often invest in an instrument or cooperate with other companies to earn a profit. Investment decisions are made by financial managers who are able to assess whether the investment is good for the company’s future or not.
5. Linking companies to financial markets
The financial manager is also responsible for linking the company with financial markets to raise more funds. The financial market is a place for securities transactions. Financial managers usually know how to choose the best money market instruments for the company.
6. Advancing the company’s financial condition
The company’s financial condition must always be healthy, and continue to grow which indicates the company’s progress. The task of maintaining and developing the company’s financial condition is in the hands of the financial manager.
What Are the Responsibilities of a Financial Manager?
The responsibilities of a financial manager are many and involve the success of the company. This is the explanation.
1. Plan and manage the company’s financial budget
The finance manager is in charge of controlling the use of company funds as a whole in collaboration with other divisions. Controls are carried out so that the available funds are sufficient and do not require additional funds.
2. Prepare financial reports according to accounting guidelines
Assisted by accountants, financial managers make financial reports according to accounting rules that apply in Indonesia. The financial statements are made for one period and will be updated every year.
3. Ensure that financial transactions run in an orderly manner
The finance manager is also responsible for ensuring that financial transactions run smoothly and orderly, there are no transaction delays, and no theft of money that harms the company.
4. Manage corporate tax properly
One of the responsibilities of a financial manager is to manage corporate taxes in accordance with government regulations. Business taxes must be paid appropriately and recorded according to the format.
5. Control the company’s cash flow
The finance manager is also responsible for maintaining short-term financial functions, such as smooth cash flow and timely debt payments. The existence of cash flow has a big influence on the company’s operations.
What is the Salary of a Finance Manager?
The salary of a financial manager is high because of the big responsibility. In Indonesia, the salary starts from IDR 10 million to IDR 16 million per month. That doesn’t include bonuses either. You want to be a financial manager?
You can start by becoming a junior accountant first. When you consistently pursue a career in that field and have a lot of experience, you will be able to get the position.
Finance Manager Qualifications
Not just anyone who is able to become a financial manager because it takes a lot of experience and certain qualifications. These are the qualifications that a financial manager must have.
1. Minimum S1 graduate in finance
Financial managers are required to have an appropriate educational background in their field. Minimum S1 in a major related to finance. From that education, financial managers usually have broad and critical financial knowledge when dealing with financial problems in the company.
2. Experience in finance at least 2 years
To become a financial manager, a minimum of 2 years of experience in finance is required. It is undeniable that experience is something that makes a person more skilled and knows what he is doing.
3. Age is 30 to 40 years old
Financial managers in Indonesia have an average age of at least 30 to 40 years. At that age a person is considered to have sufficient experience and the most important thing is to have good emotional intelligence.
4. Able to lead a team
The financial manager must be able to be a reliable leader by the team. Only a few people can reach this position because of the difficulty of being a leader.
Requirements and How to Become a Finance and Accounting Manager
Here are the requirements and how to become a great financial and accounting manager in the future:
1. Motivate Yourself
It’s not an easy thing to motivate yourself. Because most people tend to adjust to their mood. So how do you motivate yourself?
Start by telling and convincing yourself that you can be a great manager in the company. This initial step can be a trigger for your subconscious to give a positive aura to beliefs and help in forming commitments.
So that indirectly, you will start doing activities that support you to reach your dream as a finance and accounting manager.
For those of you who want to be a great Manager, your type of leadership style is highly valued by both your boss and your subordinates. So, organizing is the right solution so that you are ready to face all the challenges in society, and that way you will be trained by yourself.
3. Quality Education
A solid education is a great foundation for any knowledge-based profession. Just being a graduate or being an MBA cannot be called a good education. Start by always challenging yourself to a professional course at the hardest level. This will take your knowledge to a new level.
Trying to take part in a new and challenging professional course will ignite your passion for a good education. A good education does not mean that studying in reputable schools. Good education always comes from within the individual.
That passion will drive you toward learning new skills, subjects and technologies. Unless, you have a strong inclination towards learning and education, it is always impossible to become a good consultant.
For example, if you are an accountant or a management accountant, it will always help you a lot to become a good financial consultant.
Read more financial management:
- Benefits of Capital Markets for Investors and the Economy
- Benefits of Accounting Systems That You Must Maximize for Business
4. Studying Intermediate & Advanced Accounting Theory
If you have entered semester 3 to semester 7 in lectures, you must have experienced the courses of financial statement analysis, financial accounting, and advanced financial accounting. There is nothing wrong for those of you who want to be a reliable manager, to explore this material again. Because that way, your knowledge and insight will get better.
5. Participate in Finance and Accounting Training
This is an investment for you, because nothing is instant and requires a process. Finance & accounting training is very important, why? Because it will increase knowledge and hone skills.
You can take training, such as Financial Accounting Training, take part in the Financial Accounting Development Center (PPAK), take the Certified Public Accountant (CPA) exam, and many more.
From the explanation above, are you interested in becoming a financial manager? Hopefully this information is useful, yes!