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Finance Management

Money, in other words the capital or finance makes every business possible and for a successful business this capital has to be managed very carefully. Finance is the field which deals with the concepts of time, money and risk and how they are interrelated. Financial Management is the science of money management which is concerned with managing the finance of a company or organization and helping to accomplish their goals. It is about planning income and expenditure and making decisions that will enable the company to survive financially. In the existing scenario of globalization and recession each and every company is looking for financial experts who can cut off the cost and maximize their profit. With the growing Indian economic system, these professionals are in great demand in the big corporate sectors and also in small firms. Though it is a glamour less profession, a career in financial management is quite rewarding. They are the investment doctors who are responsible to take care of an individual or organisation's financial health, ensuring orderly and systematic achievement of the financial goals. Preparing financial reports, guiding investment activities and overall money management are the major duties of a Financial manager. They help the organization to achieve its enduring goals by developing financial strategies. A good finance manager is a valuable asset to the organization and what makes a good Finance Manager is not the skill to earn money but the capability of dealing with money. MBA qualified professionals are most in demand for the position of Finance manager, but graduates with good experience and skill can also be in the track of success. For some financial management positions, formal education can be secondary to work experience. Though a career in Finance Management is lucrative, the road leading to it, is definitely a hard one. A fast-track career in Finance Management depends on sound knowledge of money trends and the investment market. Eligibility Most Business schools in India teach finance as a specialization of MBA curriculum. The basic qualification to this 2 year fulltime programme is graduation in any discipline and the admission is based on written test, group discussion and interview. Some institutes offer executive MBA program in Finance for those who have some years of experience in the field. Apart from MBA, many certificate, diploma, graduate and postgraduate courses helps one to enter the profession. Some of the available courses on Financial management are Chartered Financial Analysis (CFA), Chartered Accountancy, Cost and Management Accountancy, Certified Treasury manager course, Certified Public Accountant course, Certified Investment Banker course, Certified Risk and Insurance Management course etc. The minimum educational qualification to join these courses is graduation in Commerce or Economics. Personal Skill : One who aspires to become a Financial Manager should have an excellent grounding in financial analysis, creative thinking and should possess good communicative and interpersonal skill. One must keep on updating the knowledge about the subject and the current global- national financial scenario. They should have the love for numbers, good mathematical and analytical skills, knowledge of latest computer technology, integrity, problem-solving, decision-making and organization skills. They must have the idea about the corporate system and be aware of all the tax and other financial laws regarding their industry. As Financial Managers have to work extensively with various departments in a firm, a broad understanding of business is essential. Proficiency in any foreign language is an added advantage in this profession.

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