Why is it necessary to study financial management? Specialty "Finance and Credit"

The rapid development of the market has led to the emergence of many previously unknown professions. A special focus in the work of many companies has become management methods that affect all areas of activity. Depending on the assigned functions, such an employee may perform various duties. For example, control and organization of sales or financial management.

Economic relations involve management of capital and other funds of the company. The consolidation of business has led to a demand for specialists who can professionally manage financial affairs and carry out their correct accounting.

A financial manager is a manager who combines an accountant and a specialist who knows the market situation at the same time. He ensures that the efficiency of their use becomes even greater, and the company’s goals are achieved in the shortest possible time.

Financial manager - a person reporting to the director of finance

This position involves performing several functions. Firstly, it is achieving a balance between material and financial resources in the process of capital turnover. Secondly, this is a distribution function, which implies right direction cash flows. This is also the creation of funds and the proper use of their funds. The last function is control over all financial resources and comparison of the profit received with the expected result.

The main task performed by a financial manager is to obtain maximum profits with minimal production costs. He must also carry out restructuring to ensure a reasonable ratio.

Responsibilities financial manager include searching for sources from related activities, from the sale of unused types of property, long-term investments and fixed assets.

It should be revised according to market conditions to increase sales revenue. His responsibilities also include improving financial relations with subsidiaries.

If the company is large, then it has a group of people on staff who are engaged in the initial task that the financial manager performs is to build an organizational structure that allows for the effective distribution and control of funds.

He is obliged to identify the size of the company's need for financial injections. The search for alternative sources of funds and their development to obtain the final result are encouraged.

The financial manager must always be aware of the current situation this moment On the market. It controls fluctuations in supply and demand, as well as price levels.

That is why a person applying for this position must be sociable, economically educated, inquisitive, and striving for self-improvement. He must have an excellent understanding of the structure of the market and finance. The well-being and prosperity of any company depends on his work.

Sergey Tatynov

Associate Professor of the Department of Management and Logistics IRBiS SSTU

One of the main children's questions is “Who should I be?” Over time, the question becomes “Where should I go to study?”

One of the main children's questions is “Who should I be?” Over time, the question becomes “Where should I go to study?” A huge number of doors are open to modern high school students educational institutions: institutes, universities, colleges, lyceums. And very often, when choosing this or that university, a certain specialty, the graduate does not fully understand who he will become after graduation and what kind of profession he has chosen. Associate Professor of the Department of Management and Logistics IRBiS SSTU, Ph.D. in Economics, told us about who financial managers are and why they are most in demand in the modern labor market. Tatynov Sergey Ivanovich.

– The very concept of “financial management” consists of two parts: “finance” and “management”. What is more important in this name?

– Although this training profile relates to management, the financial management course itself stands apart. In any other management (production, strategic) the key word will be “management”, in financial management the key word will be “financial”. This is a completely different field of activity, different skills, techniques and different education.

Financial management is the management of financial flows in an enterprise; in a broader sense, it is the management of enterprise activities financial methods. The emphasis, of course, is not on management, but on finance. In general, financial management is not an independent science, but an applied course, a set of tools and methods that are used specifically for management cash flows.

– What should a person who decides to study financial management be prepared for?

– I would like to clarify right away that financial management is not a specialty, but a specialization, a training profile in the “Management” direction. I would say to young people choosing a profession for themselves that while there are few good managers in our country, there are almost no financial managers. Only a few of the students I know have become good financial managers. But they are really in demand, they have excellent career and, of course, decent wages. After all, when choosing a future specialty, what attracts young people most of all is the salary. Today they pay about $20,000 for a good financial manager. Once, in a conversation with a very respectable business owner from Europe, the president of a large holding company, we touched upon the topic of remuneration for financial managers. He said that he pays a good manager no less than he pays himself. Good manager European level is quite expensive, although he is not the owner of the business, he is financially no less successful than its owners. Therefore, there is no need to put financial managers and store managers on the same level; these are concepts different levels.

Management is the head, knowledge, skills. Business can be lost, but knowledge and skills can only be lost along with your head. Financial management is serious profession, which cannot be mastered very easily. Naturally, the start is education. Therefore, basic training of people who come to study for financial specialties is very important. They are required to be able to perceive a lot of different information in large volumes, to know a lot of terminology, because this is a discipline in which nothing will work out in other words. During his studies, a person must not only comprehend the huge volume of new information, but it is also mandatory, after graduating from university or in parallel, to start working in your specialty. And if there are any complex disciplines, we must strive to comprehend them, and not avoid them.

– Are there any abilities or aptitudes that are necessary to become a successful financial manager?

– If we don’t talk about especially gifted people, talented people who exist in every profession, then to become a successful financial manager, you need a special type of thinking, an analytical mindset, good memory. A distracted, disorganized person has nothing to do with finances. After all, to put it very simply, a financial manager is a person who makes sure that at the time of each payment the company has the required amount of money, and during the rest of the period there is no free money. There are situations of force majeure, and then it is the financial manager, and not the head of the company, who must quickly make decisions and calculate not only purely financial possibilities, but also political aspects. So a financial manager is also a strategist. This is why outstanding financial managers in the world are worth their weight in gold.

Financial Director (CFO, English - Chief Financial Officer) - one of the top managers of the company, responsible for managing the financial flows of the business, for financial planning and reporting. The profession is suitable for those who are interested in mathematics and economics (see choosing a profession based on interest in school subjects).

Synonyms: financial manager, financial manager. The financial director determines financial policy organization, develops and implements measures to ensure its financial stability. Manages financial management work based on the strategic goals and development prospects of the organization, identifying sources of financing taking into account market conditions. In a typical company management scheme, he holds the position of Vice President of Finance and reports to the President of the company or to CEO. Knows everything about cash flows in the organization and knows how to distribute them with maximum benefit.

Features of the profession

The CFO is a key figure in any business sector. Any enterprise has financial resources at its disposal that need to be managed. They make decisions about allocating funds, obtaining loans, planning a budget (not to be confused with an accountant who only monitors the movement of funds and reports on them to government agencies). expenses.

Very often in the literature, the job titles “financial director”, “financial manager” and “financial manager” are used as synonyms. This is explained by the fact that the labor functions of specialists in the field of finance have not yet been regulated at the legislative level. We can talk about a clear distribution of functions between financial workers in relation to foreign companies or foreign representative offices. So, for example, in foreign companies It is accepted that all financial work is managed by the vice president for finance (financial director), to whom the head of the financial department and chief accountant report. The latter, in turn, supervise financial managers, economists, accountants, analysts and other specialists.

At Russian industrial, commercial and other enterprises there is still no clear understanding of the structure of financial management. Therefore, in a small enterprise, the employee responsible for financial work, arbitrarily (as a rule, by decision of the director of the enterprise) is called either a financial director or a financial manager. The clearest regulation of the functions of financial managers has been adopted in banking and credit institutions, brokerage firms and trust companies.

Pros and cons of the profession

The advantages of the profession include its prestige, respectability, and high wages. But to the highest level Only people with nerves of iron can meet responsibility. The company's position in the market largely depends on the actions of the financial director. You have to simultaneously work with securities, draw up a budget, evaluate cash flows, the investment attractiveness of the enterprise, study the market situation, the maneuvers of competitors, and the capabilities of your own company.

Place of work

Industrial enterprises and trading firms, banks, investment, trust and Insurance companies, government and commercial organizations different levels, brokerage firms, exchanges.

Important qualities

The ability to analyze a large amount of information, the ability to soberly assess a situation, the ability to make decisions, good memory, high concentration, patience, communication skills, the ability to convince people that you are right.

Additional requirements: The financial director must know financial management, legislation, economics, domestic and international markets valuable papers, financial and economic analysis. It is also necessary to understand accounting, statistical reporting enterprise, financial information published in the press (including foreign), analyze the financial results of the enterprise. Financial manager - educated and talented person IN many respects.

Training to become a financial director

Financial managers are trained at economic faculties with specialties: “Finance and Credit”, “Economics and Management”, “Accounting and Audit”. Industry-specific universities prepare financial managers to work specifically in their industry.

Salary

Salary as of 04/02/2019

Russia 40000—120000 ₽

Moscow 60000—150000 ₽

The remuneration of financial directors is directly proportional to their responsibility and work experience. Applicants must demonstrate excellent knowledge of financial management and have the skills strategic management. Applicants with more than 5 years of experience in the position of financial director of a holding company, a large enterprise or a company with a branch network can count on the maximum income. Employers often require candidates to have an ACCA, CFA, CPA, or MBA degree. Competitive advantages when applying for employment, applicants who are fluent in English language and having excellent skills in transforming reporting in accordance with international standards.

Career steps and prospects

Graduates of the faculties of economics and finance who have work experience as a chief accountant or more than 2 years of experience in managing a financial service can apply for the post of financial director. The main requirements of the vacancies relate to the high competence of candidates in accounting and tax accounting, in the field of planning, budgeting and analysis of economic and financial activities.

Portrait of a financial director

According to labor market research, the majority of applicants for the position of financial director are specialists aged 30 to 40 years (49%). There are almost equal numbers of women and men among candidates for this post: 46% versus 54%. All financial directors have higher education. Every third person is fluent in English.

Finding your calling - an integral part of life. With the existing variety of professions, each of us faces the problem of choice. After all, you want all the “puzzles” to fit together - and the work is to your liking, and there are certain abilities for it, and so that it brings real income.

Today, the labor market shows that the most in demand profession is a manager. The relevance of this type of activity lies in its versatility. Graduates of the specialty “Management” receive a complex of fundamental knowledge, skills and practical skills in different areas, in particular in economics, marketing, advertising, etc. Moreover, any campaign focused on active business development needs an intelligent manager. The moral follows: there will always be a demand for effective managers.

Despite the fact that all professions are needed, all professions are important, today we will talk about the specialty “Management”. What to do as a manager? You will find the answer on this page!

New generation manager. Who is he?

The challenges of the new millennium, caused by globalization and integration, place new demands on the manager as a specialist and person, in particular, on his way of thinking, skills and professional qualities.

A manager of the 21st century must combine several roles:

1. Manager - develops the strategy of the enterprise, delegates authority, sets specific tasks for employees and involves them in joint decision-making.
2. A leader leads, inspires, gives confidence, charges the team with optimism and enthusiasm.
3. Coach – arouses interest, encourages the generation of new ideas, helps to reveal potential, promotes personal growth colleagues.
4. Diplomat – establishes business contacts, concludes deals, plays the role of mediator and intermediary.
5. Innovator – fluent in IT technologies and able to implement them into production.
6. An entrepreneur is looking for opportunities to increase company profits and is not afraid of reasonable risks.
7. The individual is educated, has a broad outlook, has organizational abilities and moral qualities.

Having examined the modern traits of a manager, we can come to the conclusion that society now needs competent and creative manager-leaders who are able to work productively in a dynamic business environment.

Management: who to work with a relevant diploma?

In the process of formation and development, management was divided into functional types activities. They are united by common tasks, the implementation of which is necessary to achieve the goals of the organization.

Let's look at the main areas of management and, concurrently, the positions that a specialist manager can hold.

So, management, who to work with?

1. In the field of marketing.

The responsibilities of a marketer include market research, modernization of old and development of new products/services, formation of pricing policies, and promotion of goods.

For example, a vacancy for a BTL manager for those who want to organize advertising campaigns at points of sale to promote a brand.

A brand manager is responsible for the promotion, positioning and recognition of one or a number of brands using accessible methods. To do this, you need to have broad knowledge and a creative streak.

The profession of sales manager is widely used in the field of wholesale trade. The main task of the specialist is to fulfill the sales plan. This is a very popular occupation today, since not only the organization of sales of a specific product, but also the expansion of the client base and maintaining relationships with current partners depends on the quality work of the manager.

1. Internet management.

Social Media Marketing is a specialist in product promotion using social networks(VKontakte, Odnoklassniki, Google, Yandex, etc.).

In addition, the SMM manager establishes communications with Internet users, conducts competitor analysis, and manages projects.

It should be noted that the profession involves career growth. Having started working as a group administrator on a certain platform, and having gained experience, you can open your own SMM agency.

The position of Internet project manager will be of interest to everyone who is familiar with modern Internet technologies. The profession is considered very promising, and also provides unlimited opportunities for the implementation of creative ideas. Responsibilities include creating, administering, developing and promoting websites.

An anti-crisis manager, who is also an economist-manager, conducts an analysis of business processes, on the basis of which he forms a set of measures aimed at restoring the organization in a crisis with minimal losses.

The arbitration manager is also involved in crisis management. But it is appointed by the arbitration court, and depending on the bankruptcy case, it helps the borrower repay the debt to the creditor.

1. Motivational management.

A business coach is responsible for training and developing company personnel. Using special techniques, it helps to unlock the potential of employees, which has a beneficial effect on a particular organization.

1. Real estate management.

The profession of development manager in the post-Soviet space is more familiar to us as a developer. The activities of such a business development manager are aimed at making a profit from the creation and sale of real estate.

The position of event manager is suitable for those who know how to organize events. All kinds of events for customers, partners and employees are held to promote a product or maintain corporate culture.

1. Innovation management.

The profession of innovation manager is very relevant, since the implementation innovative technologies into production affects the profitability of the product.

The manager solves problems of various kinds, from market research to determine the need for a new service, technology or product to concluding contracts with suppliers.

1. Personnel management.

HR manager, better known as personnel manager. Such a specialist performs recruiting tasks, the actual selection of personnel; maintains personnel documentation and draws up training plans for the organization's employees.

A head hunter performs a high-quality search for successful specialists. This could also be luring a specific executive or top manager to another company. This vacancy is one of the highest paid.

1. International Management.

A person who wants to work as an international manager should know foreign language and the legislation of the country in which the market intends to develop. And, of course, understand cultural characteristics and the mentality of foreign partners. The success of the activity will directly depend on the level of intelligence and erudition.

1. Quality management.

The quality manager is responsible for introducing new work methods that will improve the quality of management, which in turn is important for helping to improve product quality.

1. Management of the tourism industry and hotel and restaurant business.

In the entertainment industry, such professions as tourism and hotel management stand out. The scope of responsibilities depends on where the manager works.

Often, job responsibilities Tourism managers are established in accordance with the area of ​​activity and specialization: someone is responsible for booking tickets, someone works with clients, someone issues visas, etc. Although there are generalists who can organize a trip for a client from A to Z themselves.

The manager of a restaurant or hotel is responsible for the coherence and quality of work of the entire team. Its functions include distributing tasks among colleagues, monitoring their implementation, and coordinating the activities of related services. You can learn the specifics of a manager’s work in the tourism and hospitality industry through practice.

1. Financial management.

A financial manager is a person who manages a company's financial resources to increase profits. Many enterprises need competent managers, so it will not be difficult to find a job in their specialty.

1. Transport management.

The profession of a transport logistician is to ensure the rational movement of goods. The logistician chooses what type of transport the cargo will be moved and along what route. A specialist must have an analytical mind, as the specifics of the profession require it.

Effective resource management is a priority task for any enterprise. Depending on the development strategy and accounting policy The company is developing principles for managing cash flows and forming relationships between business entities.

Tasks of a financial manager

The functions of accounting, control, and resource distribution are assigned to the manager economic department. He is responsible for correct implementation economic policy company and is obliged to create conditions for the effective operation of the enterprise. The main functions and tasks of a financial manager at an enterprise:

• efficient use of resources;
• optimization of cash flow;
• minimizing risks;
• grade potential opportunities companies;
• search for solutions that ensure the current economic sustainability of the enterprise;
• cost planning and control;
• ensuring the solvency and liquidity of the company;
• working with clients.

The financial manager also has organizational responsibilities. He participates in the budget process and ensures the activities of the treasury. It also controls and analyzes economic activity and cash flows, explores the possibility of using various tools within the framework of enterprise policy and approved management principles.

Figure 1. Optimization of cash flows using the example of the software product “WA: Financier”.

Financial manager tools for monitoring, accounting and cash flow management

The financial manager uses a wide range of tools. The process of accounting and control is labor-intensive and responsible; a specialist has no right to make mistakes, since he manages the company’s assets. In order to improve quality and maximize systematization of processes, enterprises are introducing universal software products with wide functionality. This approach allows you to optimize labor and time costs and increase efficiency.

The "WA: Financier" system is a flexible tool for solving the most complex tasks management, it can be applied to any enterprise in Moscow or other regions of Russia. It allows you to increase the number of analytical tasks due to expanded functionality, so the economic manager can perform direct responsibilities more efficiently. The system is convenient and easy to use, easy to configure, the selection of options is carried out depending on the specialist’s goals.

The main functions and responsibilities of a financial manager include efficient organization treasury work and management accounting. “WA: Financier” allows you to implement them with the highest quality and efficiency. Rational cash management is a priority task of the company, therefore the organization of accounting begins with the construction of a treasury system (accounting for the movement of Money). The system includes a set of tools that allows you to solve problems as correctly as possible:

• formation of Cash Flow Budgets;
• management of the BDDS approval process;
• formation and control of applications in accordance with limits and plans;
• flexible interaction with accounting systems and client-bank;
• generation of reports.

Figure 2. Formation of a cash flow budget using the example of the software product “WA: Financier”.

This functionality allows you to:

• quickly implement and configure a treasury management system for use;
• test the system and evaluate its capabilities in relation to the enterprise.

"WA: Financier" can solve a number of large-scale problems. Therefore, the introduction of more complex models when changing a license allows you to expand the range of management actions. For example, “WA: Financier: Budgeting” allows you to effectively form:

• budget of income and expenses;
• operating budgets;
• budget according to the operating sheet.

Figure 3. Consolidated management reporting for a group of companies in the “WA: Financier” system.

The solution “WA: Financier: Management Accounting/IFRS” can also be applied if there is a need to implement a management accounting system. The contract management system can be effectively organized with the delivery option “WA: Financier: Contract Management”.

All products developed by WiseAdvice are complementary to each other. Upgrading to a different delivery option allows you to use the functionality of the previous model. New versions expand current functional solutions and allow specialists to use familiar tools that were available in previously used system versions.

Financial manager: responsibilities and specifics of activity

Depending on the scale and specifics of the enterprise’s activities, the principles of accounting policies and resource management, the range of functions of a financial manager may differ significantly. A specialist can solve individual problems of cash flow management or exercise full control over the economic condition of the company. The job description must reflect the range of all responsibilities assigned to the specialist. In addition, it should include a list of powers, which will allow the employee to determine his rights and effectively exercise them in the future. professional activity in accordance with the instructions.

Job descriptions are developed by companies in accordance with the specifics of their activities, but they have basic similarities in their structure:

1. General provisions.
2. Qualification level requirements.
3. Job responsibilities.
4. Criteria for assessing the quality of functions performed.
5. Specialist rights.
6. Powers and responsibilities of the manager.
7. Responsibility.

All provisions of the financial manager’s job description must be written clearly and completely. This approach will not allow a company employee to perform the functions of a financial manager ineffectively and will give him an understanding of the entire area of ​​responsibility assigned to him. In addition, guided by the provisions of the instructions, the specialist will structure the labor process more systematically and use his rights in a productive direction.

Qualitatively compiled job descriptions allow the recruiter to more effectively fill vacancies by evaluating resumes in accordance with the provisions of these documents. This approach optimizes the selection process professional personnel, regardless of whether the vacancy is filled as a sales specialist or a financial manager.