financialtreat – will explain Tips for Becoming a Successful Personal Money Manager that you will get in the following article. let’s look at this article carefully!
A financial manager is a crucial position in an enterprise. The duties and responsibilities of the financial manager are enormous in the course of the company’s business. Therefore, managers must be able to lead a company so that the company can advance, especially with financial problems. For that, what are the tips for becoming a personal money manager?
You, as a business owner, need to hire an experienced and qualified individual for the position. To get to know him better, here is an explanation of things regarding personal money manager.
What is a Financial Manager?
A financial manager is an individual who organizes financial management, makes tactics, makes rules, and applies them in accordance with the goals of the company. The goal of the financial manager is to lead the financial division and make reports directly to the directors of the company.
The field of finance is something that has a big influence on the company because it concerns the company’s income to be used in various business activities. Without money, the company would not be able to execute all its business planning. So, the financial management of the company needs to be carefully controlled, and the financial manager is in charge of that.
Financial Manager Responsibilities
The finance manager has a variety of tasks related to the financial benefits of the company. This is the explanation.
1. Develop the Company’s General Financial Planning
The task of the financial manager is to draw up a financial plan for the operation of the enterprise that is applicable to one accounting period. Financial planning in accordance with the enterprise’s needs and activities in a single period
2. Collaborate with Divisional Managers
Financial managers need to work closely with other managers to develop financial planning that suits their needs. Each division certainly has its own budget. In addition, you must also cooperate in other matters related to the company’s projects. It can be said that financial managers often hold meetings with other managers.
3. Running the Company’s Financial Needs Efficiently
One of the goals of financial managers who compile financial planning so that company money is used efficiently is Throughout the company’s operational execution, the financial manager will ensure that the money provided is used in accordance with the plan. If additional money is needed, the financial manager will not give the money immediately but will carefully review the rules before taking it.
4. Making Provisions for Company Investment
Companies often invest in an instrument or cooperate with other companies in order to make a profit. A financial manager is in charge of taking investment provisions. This person can decide if the investment is good for the future of the company or not.
Connecting The Company With The Financial Markets
The financial manager is also responsible for connecting the company with the financial markets in order to raise more funds. The financial market became a place for transactions in securities. Financial managers usually know how to choose the best money market instruments for the company.
6. Advancing the Company’s Financial Situation
The company’s financial condition must be healthy and continue to develop. This indicates that the company is progressing. The job of the financial manager is to keep the company’s finances in good shape and help them grow.
Responsibilities of a Financial Manager
The responsibilities of the financial manager are many and concern the success of the company. Here comes the explanation.
1. Planning and Managing the Company’s Financial Budget
The financial manager is in charge of controlling the total utilization of company funds by cooperating with other divisions. Control is done so that the money that is already there is enough and doesn’t need to be added to.
2. Prepare Financial Statements in Accordance With Accounting Guidelines
Assisted by accountants, financial managers make financial statements in accordance with accounting rules that apply in Indonesia. The financial statements are made for one period and will be updated annually.
3. Ensuring that financial transactions are conducted in a timely and orderly manner
The financial manager is also responsible for ensuring that financial transactions are smooth and orderly, that there are no delays in transactions, and that there is no money theft that harms the company.
4. Managing Corporate Taxes Correctly
One of the responsibilities of the financial manager is to manage the company’s taxes in accordance with the decisions of the government. Business tax must be paid precisely and recorded according to its format.
5. Controlling the Company’s Cash Flow
The finance manager is also responsible for maintaining short-term financial needs, such as smoothly rotating cash flow and timely debt repayment. Cash flow has a big impact on how the business runs.
6. Ensuring the Company’s Workflow Efficiency
Another responsibility charged is that it must be able to ensure the efficient running of the company’s performance. It should not be pedantic and also not take time to work less effectively and swell the company’s finances. Managers of the financial division must be able to keep the company running smoothly and efficiently.
7. In charge of the company’s tax management.
The name is a company, so in its performance, it will definitely be subject to a work tax. Well, it is the responsibility of the manager and this division itself to be able to manage the existing corporate taxes in order to be paid on time. Do not let swelling occur in order to keep the company away from the tax penalty charged.
What is the salary of a finance manager?
The salary of the financial manager is quite high because the responsibilities are also large. In Indonesia, his salary starts at Rp 10 million to Rp 16 million per month. That doesn’t even include incentives. Do you want to be a financial manager? You can start by becoming a junior accountant first. As you continue to pursue a career in that field, the experience is already a lot. Therefore, you can also get the position.
Qualifications of a Financial Manager
It’s not just anyone who can become a financial manager because it requires a lot of experience and exclusive qualifications. Here are the qualifications that a financial manager must have.
- Minimum S1 finance graduate
- At least two years of finance experience
- It is 30 years old to 40 years old.
- able to lead a team.
1. Minimum S1 Finance Graduate
Financial managers are required to have an educational background tailored to their field. Minimum S1 in finance-related majors.From that education, financial managers usually have fairly broad and critical financial knowledge when facing financial problems in the company.
2. At least two years of finance experience
At least 2 years of experience in finance are required to become a financial manager. It is undeniable that experience is something that makes a person more expert and clear about what they are doing.
3. He is 30 years old to 40 years old.
Financial managers in Indonesia have an average age of at least 30 years to 40 years. At that age, a person is recognized as having enough experience and the most important thing is to have good emotional intelligence.
Read more financial Management:
- Important Roles, Functions of Job Description Office Manager
- What is a Finance Manager and What are the Requirements to Become a Finance Manager?
4. Capable of Leading a Team
The financial manager must be able to be a leader that the team relies on. It is only a few people who are able to achieve this position because it is so difficult to become a leader.
Well, those are some of the review that discusses personal money manager. Some of the review above is hopefully useful and can be a reference in becoming a manager.